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PM Christie Speaks to Abaco's Increasing Number of Business Developments
By Eric Rose
Sep 24, 2016 - 9:58:46 AM

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MARSH HARBOUR, Abaco, The Bahamas - Prime Minister and Minister of Finance the Rt. Hon. Perry Christie said, on September 22, 2016, that despite infrastructural and utility challenges, Abaco has been fortunate in attracting experienced and quality developers willing to invest in training.

"There is also a high retention rate of employees within a motivated workforce willing to learn and put its best foot forward," Prime Minister Christie said, at the Abaco Business Outlook, held at the Great Abaco Beach Resort & Marina, in Marsh Harbour, Abaco.

Foreign direct investment has increased significantly with several high-end, mixed-use products coming on stream, he added.

"The real estate component of these investments has resulted in the lowered cost of capital expenditure in what has traditionally been very high cost, high risk environments," Prime Minister Christie noted.  "This has given rise to a very high quality product, which has driven business and airlift and subsequently raised the investment profile of Abaco."

Ongoing developments include Baker’s Bay Golf and Ocean Club -- a high end, mixed-use resort development with expenditure in excess of $250 million for development of over fifty second homes, employee housing, Community Centre and Beach park as part of a phased, near billion dollar mixed-use project, he noted.

"An additional $50 million is being spent by land owners of Baker’s Bay to develop the Dolphin Beach Resort on Great Guana Cay and to create housing for employees of Baker’s Bay," he pointed out.  "At the Abaco Club at Winding Bay, over $123million in capital works is underway to upgrade amenities and create new hotel and residential components."

Construction employment also continues at the Leeward Yacht Club and Marina, which was undergoing a $3 million capital improvement initiative and at Schooner Bay, which includes expansion of its residential offering and completion of the $2.5 million, eight-room Blackfly Lodge, he said.

"The recent introduction of the Treasure Sands Club, a high-end, innovative farm- to-table restaurant concept in Treasure Cay and a growing trend across the globe, provides a unique twist on upscale dining in Abaco," Prime Minister Christie said.  "With an exquisite beach back-drop, Treasure Sands has given Abaco’s visitors and residents the one thing they crave: more diverse and interesting dining options."

The Bahama Woodstar Farm, at Treasure Sands, with an 80 foot "high-tech" barn and greenhouse, provides locally grown produce to the restaurant, support for a school lunch program for pre-schools in the area and operation of a farmer's market for the community of Treasure Cay, Prime Minister Christie noted.

He added that the farm also provides educational opportunities for children to experience more holistic and organic culinary and lifestyle development, and the owners are now diversifying into development of 10 rental cottages to further enhance their business.

"The performance of these new developments and of traditional hotel businesses will continue to give Abaco more leverage with its supplier network of airlines such as Delta, which inaugurated twice weekly service to Marsh Harbour from Atlanta, and with traditional and online operators all of whom are attracted by the destination’s strong following of loyal consumers and those seeking new and trending destinations," Prime Minister Christie said.

Supporting those initiatives, he added, the development of the North Abaco Port will better facilitate the shipment of supplies to the Island, thereby reducing construction timelines and costs and encourage more timely and cost-effective industry development.

Prime Minister Christie said that Abaco has also been gaining traction in the agricultural sector.

"The Bahamas Agricultural and Industrial Corporation and the Government have large tracts of farmland for leasehold to farmers to create more entrepreneurial activity and improve quality, access and marketing of locally produced goods," he said.  "This will also inevitably strengthen the network of agricultural production at the national level."
 
"In a sense Abaco has always been at the forefront of innovation, leading the way as a pioneer in mass production of organic poultry Abaco which is sold nationwide by the Abaco Big Bird Poultry Farm."

While Abaco is second only to Bimini as the deep-sea fishing capital of The Bahamas, Prime Minister Christie noted, its performance in industrial fishing is second to none, with much of the $70 million per annum industry of seafood exports being sourced mainly from Abaco’s local fishing businesses.


"All this should leave no doubt as to Abaco’s considerable clout as an economic contributor and its growing dominance as a tourism player at both national and international levels," Prime Minister Christie said.

 

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