With her government faced with mounting criticism that promised investment projects are coming to fruition too slowly, Minister of Financial Services and Investments Allyson Maynard-Gibson said Thursday that by May, Kerzner International will create 500 new jobs as construction on Atlantis Phase III moves into full swing.
By the end of this expansion, Kerzner International Chairman Sol Kerzner has said the resort will add nearly 4,000 new jobs to the 6,000 jobs on Paradise Island.
But Minister Maynard-Gibson, who was a guest on the radio Love 97 programme “Issues of The Day” could not respond to reports in the Tribune this week that a one billion-dollar investment promised for Cable Beach had fallen through, due to government’s lethargy.
Speaking to another investment, however, she said developers of the Winding Bay project in Cherokee Sound, Abaco are now projecting to spend an additional $60 million on the project scheduled to open in December.
Initial projections for the investment were $140 million. However, Minister Maynard-Gibson said investor, Peter de Savary, is now projecting expenditure to be in the area of $200 million.
The venture is expected to drive economic growth in Abaco, creating thousands of additional jobs. The project, when completed in December 2004 will include a golf academy, a village style resort with about 95 villas, water sports facilities, second homes and an 18-hole golf course, among other amenities.
“In Abaco, there is full employment…Bahamians on the ground are employed including Bahamian contractors,” the Minister said. “Homes are being sold. Cottages are being built. When we were visiting, Mr. de Savry pointed out that one of the men who is a small contractor was washing cars just to get something done, but now he has a contract to build small sites on the project.”
She said she is pleased with the extent to which The Bahamas is a “hot spot” as far as investors are concerned. She added that she is especially pleased with the efforts regarding Family Island developments.
The minister foreshadowed that by 2007 Bahamians will see a very significant population shift from New Providence to the Family Islands. She urged Bahamians to avail themselves of the various opportunities that will continue to become available throughout the islands.
Minister Maynard-Gibson said it is imperative that infrastructure is in place to accommodate the various Family Island projects she said are coming on stream.
“In seven years’ time for example, I think we would easily have 10,000 people living in Exuma,” she predicted. “The Crooked Island project is going to need 100 to 150 more people living in Crooked Island. They’ve already said in Rum Cay that they’re going to need hundreds of people for the project there. If these number of people are needed, it means that the opportunities are there.”
Minister Maynard-Gibson also said that rent in Exuma has soared from $800 per month to $2,000 due to the recent developments there that have resulted in a population growth and scarcity of accommodations.
In addition, she said that the government will make an announcement in relation to a Heads of Agreement for a project in Governor’s Harbour, Eleuthera, as early as next week.
Questioned by talk show host, Jeff Lloyd, on what type of impact is expected, Minister Maynard-Gibson said about 200 jobs will be created.
“We’re also almost at a Heads of Agreement stage with another project that is going to be very, very transformative of the entire Eleuthera,” she said, adding that Eleuthera was once a thriving economy.
Last November, at the Progressive Liberal Party’s convention, Minister Maynard-Gibson revealed that 8,000 plus jobs will eventually be created over the course of the various capital investments.
She said on Thursday that within a year, no one will be able to lay criticism on the government regarding job creation.
“I want to emphasize, we’re not just talking about job creation in New Providence, but I really want people to focus on what we’re trying to do for many, many reasons including alleviation of the pressure here in New Providence on our infrastructure, social kind of pressures, crime and so forth,” Minister Maynard-Gibson said.
Hadassah Hall, The Bahama Journal
