Prime Minister Dr Hubert Minnis looks on during the signing.
By Youri Kemp
A DEAL to open a school of medicine in Freeport is expected to make a $60m impact on the island of Grand Bahama.
The Heads of Agreement (HOA) was signed yesterday for the Western Atlantic University School of Medicine - and was hailed by Minister of Health Dr Duane Sands as “a step in the right direction” for the island.
About 150 jobs will be created at the peak of construction, with more than 50 permanent jobs being created after the first phase of the development.
Dr Sands, speaking to Tribune Business after the HOA was signed between the government and the school, said: “The build out is expected to have more than a $60m impact for Grand Bahama. Each student is averaged to have an annual spend of $25,000 a year when you calculate school fees, room and board and other spending for personal expenses inclusive of travel.”
He added: “Clearly this is a step in the right direction. The expectation is to redesign and redevelop Grand Bahama post Hurricane Dorian and every little bit counts.”
Dr Sands said the signing added to other recent heads of agreement, such as one with Carnival Cruise Line for a $100m proposed cruise port in East Grand Bahama; and one worth $80m for a pier at the northern end of Half Moon Cay.
Dr Sands added: “Grand Bahama may be down but not out.”
He was confident the latest deal would be an inducement to other potential investors eyeing Grand Bahama. He said: “Each project - whether they have a $10m or $100m or $1bn impact, it is a shot in the arm to Grand Bahama. The expectation is that other investors will be seeking opportunities. The government is open to innovative ideas to position Grand Bahama as the tech hub.”
Minister of State for Grand Bahama Senator Kwasi Thompson spoke at the signing and said: “Western Atlantic University School of Medicine projects significant economic impact for the island of Grand Bahama. The campus hopes that at the completion of all phases 2,300 students will enroll. Each student living in the Freeport community estimates to provide $25,000 per annum in revenue for Grand Bahama on housing, food, entertainment, goods, and on-island transportation. It is hoped that this will increase the critical mass of residents which is so badly needed in Grand Bahama.”
Mr Thompson said project will be divided into four phases with an overall investment of $64.2m.
Phase one calls for an investment of more than $13.5m, phase two will rise to a $23.6m investment, then $27.1m by the end of phase three. By phase four, the total investment will equal $30m.
The construction is set to commence before the end of this year.
Comments
proudloudandfnm 5 years ago
Last school of medicine had to leave Freeport when its students complained about the lack of everything. Since then Freeport has gotten much worse.
Seriously doubt we'll see anything from this.
Now. What about our once vibrant maritime industry? Is someone in government trying to figure out why ship calls are so far and few between now? And why they've been so low for the last 5 years?
Does the ignorant 25% value of cargo C-10 fee have anything to do with it?
How about the fact that our free anchorage now costs thousands to use?
Maybe it's the work permit fees being extorted from just about every ship manager to arrive in Freeport. Oh so sorry sir we don't have a record of your approved temporary work permit, that'll be $400.00 please. Cash, right now or we will lock you up.
Maybe it's the 1% processing fee?
Whatever it is government needs to stop chasing waterfalls and get on the ball and fix the problem with maritime in Freeport. PLEASE!!!
birdiestrachan 5 years ago
doc had his say and now Dr Sands has his say. these fellows lie so much. so they make up lies as they go. how much the students will spend. and the millions that will come into Grand Bahama. It is just talk. CHEAP TALK.
SP 5 years ago
With parts of the U.S. and Canada already inundated with snow, this indeed is a step in the right direction!
https://www.nytimes.com/2019/10/11/us/n…
The Bahamas' temperate climate, proximity, and ease of access to North America should be a winning formula to entice high-end universities, special education/vocational institutions, and retirement home developments from North America to expand here.
The benefits of local education opportunities would be limitless.
ohdrap4 5 years ago
In Grand Bahama they get "inundated" with hurricane surge instead. Much better.
This is similar to OBAN.
This school does not have a single student.
birdiestrachan 5 years ago
Nothing but pie in the sky and cheap talk.
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