Good evening to our citizens and residents. This evening I bring you the post cabinet briefing for cabinet meeting held today May 21st, 2007.
A number of applications for tax concessions from small local companies, particularly in the manufacturing sector, were discussed and approved. Concessions awarded today were in support of the development of commercial activity in the rural parts of the country.
This is a deliberate part of the post-sugar strategy that supports the creation of jobs in the non-urban parts of the country so that former sugar workers, in particular, and the rural community in general can find employment in the comfort of their familiar environs. Very shortly, communities around the island of St. Kitts will witness the establishment of commercial and industrial developments similar to that at Cabbage Tree in Cayon and the St. Peters Commercial Development Complex.
Cabinet engaged in extensive discussions on a major project for the development of the private lands on the South-East Peninsula called the St. Kitts Peninsula Resort. The project concerned involves the development of two hotels of about 250 rooms in total, about 2000 residential units, commercial buildings including office space, a championship golf course and a marina with a residential retail village. Other facilities that will be developed in support of economic activities in the area are restaurants, shops, club houses, yachting facilities, swimming pool complexes, and tennis complexes.
Government will ensure that the private lands in the SE Peninsula area are developed in accordance with the development plan for that part of the country including ensuring that environmental and biological resources are specially protected. The Developers involved in this project, the Kiawah group and the Auberge group will be held to performance account because government has developed strict performance agreements for the contemplated development. The economic impact assessment on the St. Kitts Peninsula Resort estimates that the local economy will benefit in the amount of $1.5Billion every year over a 20-year period from the inception of the project.
Government is expected to sign off agreements with the Kiawah and Auberge groups within the next couple of weeks.
The Government has made a commitment to building a new athletic stadium at Bird Rock to provide a state of the art facility for the development of athletics in the Federation. Cabinet acknowledges that St. Kitts and Nevis has enjoyed great achievements in the field of athletics internationally and that we need to support the development of the athletic potential of our young men and women.
Today Cabinet accepted and approved the tender report for the construction of the stadium prepared by the engineering firm of Terra Forma Trinidad Ltd. Contracts have been awarded and the athletic stadium will be built and opened in time to allow St. Kitts and Nevis to host the March 2008 Carifta games. The total cost of this important social development project will be $12.7 M.
This brings to an end the post cabinet briefing for cabinet meeting held today Monday May 21st, 2007. I thank you.
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