Following months of consultation with the public, the GBCC's Economic Development Committee will present what it has determined to be the main obstacles to economic growth on the island during a summit on Friday, June 10.

The event will be held at the Pelican Bay Hotel from 9:00 a.m. -12 noon and is free to members of the public.

GBCC president K. Peter Turnquest says, he is very pleased with the committee's work thus far.

"We're looking forward to closing off this phase and getting into the detailed report writing stage and strategic development stage,"?he said, referring to the creation of solutions to address the obstacles named.

Turnquest said he believes the time is ripe for a project such that the GBCC is undertaking.

"When we came into office we knew we wanted to do something significant. We knew the island was suffering and there didn't seem to be any real focus on the way forward, either from the (Grand Bahama) Port Authority who were in their own turmoil or from the government at that particular time, and so we decided that rather than relying upon these external factors, if we're going to be successful and if we're going to have a sustainable economy, we're really going to have to start doing our part, taking ownership of this island," he shared.

"What we're interested in is creating real wealth and economic opportunity for Grand Bahamians, which will obviously be stimulated by foreign direct investment."

Turnquest stressed that the plan will not only be focused on the Freeport area, but will address issues affecting residents of the entire island.

"We're not just saying Freeport, because Freeport has some unique challenges with respect to its governance, with respect to the interests that are being served here, but Grand Bahama has tremendous potential and we have to start looking outside, and controlling the things that we can control and stop worrying about what other people are doing and the challenges that they have. Those are their challenges, but we have opportunities and we need to take advantage of our opportunities," he said.

Consultant Edward Nelson, who is assisting the GBCC with its economic plan, and who facilitated the committee's meetings with various sectors of the community, noted that a significant amount of information was derived from those meetings.

"Some of it was surprising, some of it was probably not surprising, but it's necessary to really determine what the impediments are before we can even attempt to develop a strategy," he said.

Progress is not going to be swift, he acknowledged.

"It's not going to be easy. People want to see something happen right away and even though sometimes you're lucky, economic development doesn't happen overnight. It's going to take time, and sometimes you're going to get frustrated because things don't move as fast as you'd like, there may be some impediments that will be hard to get around, but you have to continue to work at it, you can't get frustrated. When there's a little success, you take it and you build on it,"?he said.

Turnquest agreed, noting that the project is a long term one.

"I think that's going to be the most important thing - that we stay focused and committed to the process," he said.

"In changing the economy, there's going to be a lot of work and it's going to take a lot of buying in from successive governments, in terms of the serious hurdles that are going to have to be crossed, and some of them are going to require some political will, so those are not going to be easy. Some people will not like to hear them but if we are going to accomplish and to really build a free market, a sustainable and durable economy, we're going to have to face them."

Speaking to the summit planned for next week, Turnquest said, the community should make it a priority to support the event.

"I think it's very important that all those individuals who are interested in the future of Grand Bahama make it their business to be out at the summit because it is going to affect them, it's going to affect, hopefully, the way that Grand Bahama is going to be developed in the future," he said.

"Governance should be about the people and certainly we should be listening and shaping policy to make sure that the dreams and desires of our citizens are being met."

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