The $700 million dollar investment proposed by Montana Holdings Ltd. will create hundreds of job opportunities for Rum Cay residents and encourages many to return Minister of Financial Services and Investments, the Hon. Vincent Peet said.
He added that residents should take full advantage of this investment and undoubtedly anticipate an increase in property values.
“Montana Holdings has also agreed to provide on the job technical training to Bahamian employees necessary to the promotion and advancement of all levels of this development”, he said.
Minister Peet’s remarks were made May 12, 2006 during the groundbreaking ceremony of the Rum Cay Resort Marina, Rum Cay. Also in attendance were Prime Minister the Rt. Hon. Perry Christie; Mr. Philip Davis, Member of Parliament for Rum Cay, San Salvador and Cat Island and other government officials.
“Not only will the resort be the direct employment opportunity for residents, but other economic benefits will develop such as providing an outlet for native products.”
The Minister implored Bahamians to become entrepreneurs to provide goods and services, as well as, understand the economic benefits of a resort of this type and magnitude.
The proposed development also allows for high school graduates to begin careers in the hospitality and recreational industry.
In addition, Minister Peet said, “The Company will also provide assistance to all levels of capital and curriculum to the School of Hospitality at the College of The Bahamas or The Bahamas Technical and Vocational Institute through the Ministry of Education.
“It is expected that Rum Cay will be the model for the future of economic growth for the surrounding areas as there will be an improvement in high quality of life.”
He added that a substantial revenue boat will be created for the entire community leading to the island’s rebirth.
Mr. John Mittens, chairman of Montana Holdings Ltd. said, “Much encouragement was received from the residents of Rum Cay and this development would bring much economic development for the residents.
“This would be a significant investment and the biggest in the southern Islands because we have absolute confidence in The Bahamas.”
Rum Cay is an “innocent island,” so it is important that the development of the 870 acres of land is conducted in a very eco-centric manner, Mr. Mitten said.
The Nassau Guardian
