The Quonset Development Corporation (QDC) is a quasi-state agency established by the General Assembly in 2004 and operational since January 2005. It is responsible for the development and management of the Quonset Business Park (QBP) in Rhode Island, with the goal of attracting and retaining successful businesses to provide diversified job opportunities. Steven J. King, P.E., a University of Rhode Island graduate and Operation Desert Storm veteran, has been instrumental in QBP's success, serving as Chief Operating Officer since 2005 and later as Chief Executive and Managing Director from 2008.

Under the leadership of the QDC and Steven J. King, the Quonset Business Park has seen significant growth, with an increase of 626 acres of developed area, 4.3 million square feet of new facilities, and over $1.85 billion in private sector investment. As of 2022, QBP is a major economic driver in southern New England, hosting over 13,000 jobs, contributing $169.1 million in tax revenues, and providing wages that are 10% higher than the Rhode Island average. With future development plans, QBP is expected to further increase labor income for Rhode Island households. In recognition of these achievements, the Senate of the State of Rhode Island has proclaimed June 6th, 2023, as "Quonset Day" and commends the QDC for its contributions to the state's economy and the well-being of its citizens. A certified copy of this resolution is to be sent to Steven J. King, P.E., Managing Director of the Quonset Development Corporation.