By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Investors are planning to inject $2 million in start-up capital into an Abaco-based soybean, corn and dairy cattle farming venture that could create some 30 jobs.
Haziel McDonald, and long-time friend and Nebraska farmer, Jeff Larson of Larson & Larson Farms, have entered into a joint venture to head Caribe Farms. The company recently signed a 21-year lease agreement with the Bahamas Agricultural and Industrial Corporation (BAIC) for 2,000 acres of land in Spring City Abaco.
Mr McDonald yesterday told Tribune Business that Caribe Farms was looking to start clearing the land and bring in equipment near the end of June 2014.
“Soybean will be our first crop and afterwards we will move to corn,” he said. “We’re looking at about 800 acres for the first planting of soybean. Corn would come pretty much once we get the soybean in the ground.
“We will start working on another 500-600 acres of corn. We will also look to raise cattle, an extensive amount of cattle. We want to produce beef to supply to the country.”
Mr McDonald estimated that 15 workers would be employed in the company’s slaughter house alone. “We look to employ around 15 or 16 people in the slaughter house. We may start off with 12-15 employees on day one but that will grow. Two to three years in, you will have 30 something employees,” he added.
“Some time in the month of June we would begin to bring in some equipment and get people to work in clearing the land and get people prepared to plant. We want to say that before the end of June we will get the ball rolling.”
Mr McDonald estimated that around $2 million would be invested at the outset for the company to get the necessary equipment in place, with the total investment in the entire projects set to exceed that significantly. He was unable to put an exact figure on that at this time.
“We are going to be utilising modern technology. Nearly everything is going to be machine-driven. We have put a lot of research into this. The project will be done in stages. I think in three years we will get to where we will be able to start producing beef for the country. We’re very confident about the project. Mr Larson, who also happens to be a very good friend of mine has been in the farming business, all of his life,” said Mr McDonald.
Comments
afficianado 10 years, 6 months ago
Why didn't the government allow theses investors to be apart of the marine and agricultural institute in North Andros? In addition to the 30 jobs that it would provide it would also allow students to be exposed to manufacturing etc. Which creates a market for electrical engineers with experience in plc programming. It also creates a market for butane production from cattle and ethanol from corn and soybean which will reduce BEC's expenditure for propane importation and both can be used for cooking gas. The job opportunities are endless but sadly we have a government with no vison or ingenuity.
bcitizen 10 years, 6 months ago
I think the fact of the matter is Abaco and Freeport for example also have lots of land, water, much better infrastructure and larger local populations for example. The government cant force an investor to invest where they do not want too. There is a reason more faming is occurring on these two islands versus Andros despite all the efforts to turn Andros into a farm hub.
BigDuffus 10 years, 6 months ago
Govenment would not be able to bleed they for money as much if they did that and do real think they want to drop BEC cost. Then they can't bleed me and u for our money. Every one of the things u spock of brings in duty to government. The less of that they get the less they can slip in their pocket.
ohdrap4 10 years, 6 months ago
not to worry, this will go the way of the sea plane that only made one flight to elbow cay
and the way of the logging, as no custom duty examption occured
GQ 10 years, 6 months ago
Thanks to former Prime Minister Hubert Ingraham this project did not get approval three years ago all because of "The White Boy" from Man O War Cay's involvement.
Thank you Ingraham for the payback for all the years the people of Abaco supported you!
BigDuffus 10 years, 6 months ago
I wish them luck. May be like Sugar Land Farm. Was aproved and started then goverment slowly bleed them dry with red tape til it went under. Word of advice. U need twice the money u figer to start something like this. The extra is to pay government people off or to pay your interest while you try do it the right way. First off do u think the governmentS will do anything to help Abaco get ahead unless it means money in their pocket. And then they will hang them out to dry run them into the ground. I hope not but for their sake but history is not on their side.
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