The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE Government needs to “level the playing field” and offer Family Island business operators the same concessions and incentives as those granted to foreign developers, the Eleuthera Chamber of Commerce’s president has argued.

Thomas Sands said no major development project would be successful unless communities developed at a similar pace.

Speaking at a press conference ahead of the second annual Eleuthera Business Outlook conference, Mr Sands said: “Let’s level the playing field. Let’s provide the same level of concessions and incentives you would provide to a development coming in. Let’s help them get to the point where they can upgrade their infrastructure.”

Mr Sands suggested that Family Island businesses be offered duty concessions that would allow them to purchase more energy efficient equipment. “We also encouraged the thought process of looking at exemptions on Stamp Tax relative to the purchase of real estate for business purposes, where their was a commitment to employ people by a certain period of time, and would encourage domestic and international investment in specific projects in the Family Islands that relate to the development of the infrastructure behind it,” he added.

Mr Sands said the vacation home rental business on Eleuthera has been pivotal to the island’s economy. “That’s an area which, over the last several years, has found its growth and subsidised the lack of hotel rooms on the island of Eleuthera,” he said.

“ Through the use of the Internet and individuals who have been very creative in marketing, they have been able to essentially replace that lack of inventory with vacation homes and new vacation homes have been built,” added Mr Sands.

“It has actually raised the standard of accommodations available because most people are searching internationally on-line and they are being rated. The vacation home industry is one indicator that there has been a sustained trend, even during the downturn. As of last year, in our personal business and in conversations with other realtors, we have seen some indications of some new real estate interest. After several years of now activity that again is another indicator.”