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Investment Opportunities
JAMAICA
1
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
Ideal Location and
accessibility
Gateway to multiple
destination
EST Time Zone - convenient for
doiong business with the USA, Latin
American and
Caribbean
One hour from Miami
Three Hours from New York
Time zone 0-3 hours from North
America & 5-6 hours from Europe
Main shipping lanes for Panama
Canal
Stable Government &
Economy
Independent Judiciary
Diversified and well
developed capital market
No foreign exchange controls
Increased privatisation of public sec-
tor companies
Liberal export incentives
Liberal Import Policies
Educated English-speaking
workforce
Skilled, semi-skilled labour
Intensive Infrastructure
Efficient Telecomunications
Tropical climate
WHY JAMAICA?
2
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
Why Jamaica 1
About Jamaica 3
JAMPRO & Partners 6
GOVERNMENT OF JAMAICA PROJECTS:
Caymanas Economic Zone 8
Naggo Head ICT Park 10
Tinson Pen Logistics Centre Development Centre 12
Navy Island/Titchfield Lands 12
Vernamfield Development Project 13
Back Rio Grande Hydro Scheme 15
Great River Hydropower Plant 15
Laughlands Hydropwer 15
International Financial Services 16
PRIVATE PROJECTS
Amaterra Jamaica Ltd. 18
Negril Peninsula 19
Green Castle Estate 20
Barrett Hall Lifestyle Village 21
Barnett Tech Park 22
Cotton Tree Bay 23
Laughlands Tourist Development 24
Mahoe Bay 25
Mosquito Cove 26
San San 27
White Bay 28
DIVESTMENT PROJECTS:
Norman Manley International Airport (NMIA) 30
Wallenford Coffee Company Lid. (WCCL) 31
Mavis Bank Coffee Factory Limited (MBCFL) 31
The Oceana Building 32
The Office Centre Building 32
Font Hill 33
CONTENTS
3
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
Jamaica operates a mixed market
economy. The main sectors include
agriculture, mining, manufactur-
ing, tourism, financial and insur-
ance services, transport, and com-
munications. The services sectors
account for two-thirds of gross do-
mestic product. As an open econo-
my, Jamaica is well integrated into
the global economy with external
trade contributing prominently to
overall economic activity.
ABOUT JAMAICA
4
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
ABOUT JAMAICA
JAMAICA’S INFRASTRUCTURE FOR FOREIGN
DIRECT INVESTMENTS
Jamaica is advanced in modernising its port, air-
ports, roads, telecommunications, water supply
and sewerage infrastructure. Investment in in-
frastructure is an important priority in national
development, having regard to its impact on the
competitiveness in the economy. The island has
been a high performer in attracting foreign direct
investment over recent years particularly in the
area of tourism, and this performance has been
attributed to improvements in its infrastructure.
Jamaica has nine active ports. The Port of Kings-
ton is the largest, which at 21 square kilometres
of navigable water, is the seventh largest natural
harbour in the world. Located along the north/
south, east/west axis of the Caribbean, the port
is just 32 miles from the trade routes that pass
through the Panama Canal.
The Port of Kingston handles approximately 80%
of all imports. It includes a modern container ter-
minal, a large break-bulk wharf with roll-on/roll-
o facilities, an oil renery and dry bulk terminal.
The fully computerised terminal has 11 berths,
backed by 40 hectares of container yard space.
State of the art stevedoring equipment includes
seven rail-mounted 40-ton gantry cranes, 30
straddle carriers, yard chassis and hustlers,reefer
outlets and a freight station.
With stellar infrastructure, competitive rates and
a central location, the trans-shipment opportuni-
ties in Jamaica are limitless. Our easy accessibility
to the main shipping lanes that run through the
Panama Canal makes the Port of Kingston even
more attractive to international shipping compa-
nies. Over 30 shipping lines have operations in
Jamaica, covering all the major routes to the
North and South American continents, Europe
and the Far East.
Ò The natural harbour in Kingston is the 7th
largest in the worldÓ
5
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
ABOUT JAMAICA
AIR TRAVEL
Jamaica has two international airports, Norman Manley Interna-
tional Airport located in Kingston and the Sangster International
Airport in Montego Bay. Additionally, Jamaica facilitates domestic
air travel through four aerodromes namely, Tinson Pen (Kingston),
Ken Jones (Portland), Boscobel (St. Mary), and Negril (Westmore-
land).
The Norman Manley International Airport sits south of the Kings-
ton Harbour on 228 hectares (563 acres) of land. It has a runway
of 816 square metres (8,785 square feet) and is capable of accom-
modating aircrafts up to the size of the Boeing 747.
The Sangster International Airport runs along the northern strip
of the country, 3.2 km from downtown Montego Bay. It’s on ap-
proximately 235 hectares (580 acres) of land, with a runway of 809
square metres (8,700 square feet) and an associated parallel taxi-
way running the full length of the runway. The redevelopment of
the Sangster International Airport included the construction of a
new concourse and the upgrading of the existing one, which has
expanded the capacity of the airport to handle 9.5 million passen-
gers per annum – 3 times its previous size. It was completed in
August 2008. The airport handles the bulk of the traffic generated
by the tourism industry and now possesses the most modern pas-
senger facilities for shopping, immigration, customs and transport
services in the Caribbean region.
HIGHWAY 2000
HIGHWAY 2000 is the centre piece of a multi-year Millennium
Projects Programme initiated by the Government of Jamaica .
The main objective of these projects is to upgrade the country’s
infrastructure and assist in providing economic opportunities for
growth and the creation of jobs.
The highway is a four to six lane controlled-access, tolled motor-
way with fully grade separated interchanges and intersections
built according to modern international standards.
Sangster International
Airport, Montego Bay
Highway 2000
6
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
JAMAICA PROMOTIONS CORPORATION, JAMPRO
JAMPRO is the Government of Jamaica’s investment and export promotion
agency, which connects investors and entrepreneurs from around the globe to
the trade and investment opportunities available in the leading sectors of the
Jamaican economy.
Operating under the direction of the Ministry of Industry, Investment and Com-
merce, JAMPRO guides investors from the decision making stage, through the
approvals process, to when their investments become operational. The agency
focuses on the targeted sectors of tourism, manufacturing, agri-business,
information and communication technology, mining, energy, and the creative
industries (film, music and entertainment).
www.tradeandinvestjamaica.org
DEVELOPMENT BANK OF JAMAICA
The Development Bank of Jamaica facilitates the growth and development of
all viable enterprises in the productive sectors of the Jamaican economy. The
DBJ provides direct lending for large projects in strategic areas, medium and
long-term financing solutions to all entities, as well as supports the manage-
ment and privatization of national assets and investments.
www.dbankjm.com
PORT AUTHORITY OF JAMAICA
The Port Authority is the statutory corporation responsible for the regulation
and development of Jamaica’s port and shipping industry. The corporation is
responsible for the safety of all vessels navigating the ports of entry and the
regulation of the tariffs charged on goods passing through the public wharves.
In addition, the Port Authority regulates the establishment and operation of all
port facilities, develops and manages safe, secure and efficient world-class port
infrastructure in Jamaica and the related commercial operations that deliver
sustainable growth while satisfying the needs of all stakeholders.
www.portjam.com
URBAN DEVELOPMENT CORPORATION
The Urban Development Corporation has a mandate to stimulate urban devel-
opment through the planning and implementation of comprehensive develop-
ment projects and programmes.
www.udcja.com
PETROLEUM CORPORATION OF JAMAICA
The Petroleum Corporation of Jamaica has been mandated to develop indig-
enous renewable energy resources, to prevent adverse effects on the environ-
ment and to realize the goals of Jamaica’s Energy Sector Policy.
www.pcj.com
The Development Bank of Jamaica facilitates the growth and development of
The investment projects in this portfolio are managed/facilitated by the following government agencies:
7
JAMAICA
INVESTMENT OPPORTUNITIES
GOVERNMENT OF JAMAICA PROJECTS
8
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES MANUFACTURING/ICT
Caymanas is ideally located for a technology
park development, situated at the confluence
of the major population centres of Kingston,
Spanish Town and Portmore. All three loca-
tions are 25-40 minutes from the Norman
Manley International Airport with excellent
public transportation and networked with the
island’s Highway 2000.
Modern shipping and trans-shipment
services are less than 10 minutes away at
the Port of Kingston, all underpinned by a
sophisticated world-class telecommunica-
tions backbone.
•	 Kingston,	national	capital	with	an	es	
timated population of 580,000, offers
the region’s premier transportation
centre as well as 146 schools, 6
management institutes and 4
universities.
•	 Portmore	is	the	largest	middle–	 	
income dormitory community in the
English-speaking Caribbean with
over 265,000 residents many of
whom have post-secondary educa-
tion.
•	 Spanish	Town,	Jamaica’s	former	capi	
tal has over 150,000 reside.
The Caymanas Economic Free Zone (CEFZ)
consists of 1500 acres of prime real estate,
of which 40 acres have been earmarked for
the development of phase 1 of the ICT Park
which will house: Software Development,
Telecommunications/Co-Location sites, Bio-
Technology, Business Process Outsourcing
(BPOs) and IT/Security Consultancy (NOC).
Project Concept
An integrated ecosystem built on a modular
plan from seeding or staging site.
•	 Intelligent	self-contained	City	based	on		
work-play-live and Knowledge Innovation
Zone/Knowledge City concept
•	 Staging	site,	training	centre,		 	
light data centre facilities, meeting
rooms and business centre
•	 Immigration	Services,	Customs	offices,		
Free Zone certification, one-stop window
•	 Campus	offices	representing	all	major			
universities and recruitment/job fair
centre
•	 Support	services	include	restaurants,		
banks, ATMs, daycare, doctors offices,
emergency medical services, dedicated
transportation hubs
•	 Adjacent retail and recreational facilities
and middle income residential develop
ments for Knowledge Workers.
The Staging Site
Ready to occupy plug-and-play space in 50,000 sq feet
(10 Units) holding up to 700 seats. Starter facility which
permits new market entrants to pilot their business
model in a cost effective manner on the condition that
they build-out their own modular units in the ICT Zone
and relocate in 1 year. Staging sites are also aimed at
providing facilities to local entrepreneurs who can
leverage world-class facilities within their constraining
cost structures to provide sourcing services to global
clientele.
The Complete Project
•		 40	acres	of	land	with	1,200,000	square	feet	of		
production space hosting 12,000 seats and up
to 21,000 jobs.
•	 Target	rental	rates	of	US$10	per	square	foot			
per annum
•	 On-site	power	generation	with	excess	capacity		
sold back to the national grid
•	 Telecommunications	providers	will	supply	last		
mile connectivity
Infrastructure
•	 Modular	Floor	Layout	for	Office	Space
•	 Scalable	office	Infrastructure	(28-38,000	Sq.	Ft.		
Single Floor Plate).
•	 Earthquake	and	Hurricane	resistant	infrastruc	
ture
•		 Centralized	air-conditioning	&	AHUs	located	on		
each floor
•		 OFC	and	Structured	Cabling	Network.
•	 Private	dedicated	power	supply	[IPP]	
•	 100%	Power	Backup	Support	(supported	by	on-site		
power generation by utility partner) 24 hour
uninterrupted water supply
•		 Large	Capacity,	High	Speed	Passenger	and	Service		
Lifts
CAYMANAS ECONOMIC ZONE
CAYMANAS ICT PARK
9
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
Amenities
•		 Security	-	Access	Control	and	Electronic	Surveillance.
•	 Transportation	services
•		 Multi-Cuisine	Food	Courts,	Banks	and	ATM’s,	Retail	Outlets,	Busines	Center,	etc.
•		 Ample	Parking	Space.
•	 Beautifully	landscaped	area	comprising	of	manicured	lawns	and	gardens.
Project Phasing:
•	 Phase 1: Infrastructure works
•	 Phase	2:	Staging	Site
•	 Phase	3:	Support	facilities
•	 Phase	4:	Modular	build-out	based	on	client	commitments
Subdivision Plan with splinter titling, building specifications and ownership options:
•		 Long term lease
•						Lease for purchase
•		 Outright purchase
Development Incentives:
Real Estate/Land:
The Jamaican Government has placed the 40 Acres of land at Caymanas in a Public-
Private partnership (PPP) vehicle for development. The developer will take advantage
of the following concessions offered under the Tax Incentive Programme for Urban
Renewal (TIP):
•	 Tax-free	status	on	bonds	issued	
•	 Tax	credits	of	25%	of	capital	expenditure
•	 100%	tax	concessions	on	rental	/	lease	income
Marketing
The Government of Jamaica through its Investment Promotions Agency, Jamaica
Trade and Invest/JAMPRO will co-market the‘Caymanas ICT Business Park’in conjunc-
tion with the Real Estate developer. Clients of the Park will receive the following
benefits:
Free Zone: Park clients who export more than 85% of their services offshore will
benefit from the following:
•	 No	restriction	on	repatriation	of	foreign	exchange
•	 Corporate	tax	exemption	on	profits	in	perpetuity
•	 Import	duty	exemption	on	capital	equipment
•	 Reimbursement	of	VAT	on	local	purchases
Training: The National Training Agency
(NTA)
The HEART Trust NTA gives technical support and financing
for employment training, institutional and via on-the-job
training/ partnerships with community organizations. The
agency partners with start-up investors to promote worker
training and certification with focus on high-skilled jobs
where training leads to certification.
Project Costing:
Total investment for completion of buildings estimated at
approximately	US$	90	million.		Typical	cost	to	build	a	facility	
is	estimated	at	US$75	per	square	foot	with	an	additional	
US$75	per	square	foot	for	fit-out.	Investment	for	infrastruc-
tural	works	is	a	projected	US$120	million.	Target	rental	rates:	
US$10	per	square	foot	per	annum.	Typical	time-to-build	is	
8 - 16 months.
MANUFACTURING/ICT
CAYMANAS ECONOMIC ZONE
10
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
INFORMATION COMMUNICATIONS
TECHNOLOGY ICT)
Demographics
The Municipality of Portmore is the English-
speaking Caribbean’s largest middle–income
dormitory community, and a strategic location
for Jamaica’s ICT development. With over 265,000
residents many of whom are tertiary educated;
Portmore offers a large certified workforce and
easy access to first-rate educational institutions.
Accessibility
Portmore is 10 minutes from the nation’s capi-
tal – Kingston and 25 minutes from the Norman
Manley International Airport with excellent road
connectivity and infrastructure for communica-
tion and utilities. It is connected by the Highway
2000 toll road as well as the Mandela Highway.
Portmore’s attractiveness has captured the atten-
tion of outsourcing industry heavy-weights such
as Affiliated Computer Services (ACS), and West
Corporation which facilitate the business process-
ing needs of Fortune 500 clients such as Delta Air-
lines, Xerox Corporation and Proctor and Gamble.
Jamaica’s world class telecommunications in-
frastructure extends to Portmore. The Fibralink
submarine cable network provides enhanced de-
livery of business and broadband traffic. Jamaica
is linked to the Americas Region Caribbean Ring
System (ARCOS-1) submarine cable in the Do-
minican Republic; the link to ARCOS-1 provides
seamless connectivity to US, parts of the Carib-
bean, Central America, and South America. There
are two major broadband carriers which provide
triple redundancy.
Project Concept
Within Portmore, the Government of Jamaica has
earmarked a region called ‘Naggo Head’ for the
purposes of establishing 21 acre Technology Park
which is expected to break ground in early 2011.
The Naggo Head ICT Park is premised on an in-
tegrated ecosystem built on a modular plan from
seeding or staging site. Typical time-to-build is
anywhere between 8 months to 16 months.
The Staging Site
Staging Sites have become a feasibly sound so-
lution, serving as a stop-gap measure for clients
while their decisions surrounding total real estate
requirements are satisfied – custom buildings,
large-scale facility lease, corporate-design fit-
outs etc. Staging Sites are meant to provide cli-
ent organizations with a facility to deploy “plug-
and-play” models with their chosen businesses.
In addition such sites are also aimed at providing
facilities to local entrepreneurs who can leverage
world-class facilities within their constraining cost
structures to provide sourcing services to global
clientele. Typically such sites have the configura-
tion as shown on Figure 1 overleaf. (See Fig. 1)
The Complete Project
● 600,000 square feet hosting
approximately 6,500 seats and up to 12,000
jobs.
●		Target	rental	rates	of	US$10	per	square
foot per annum
● On-site power generation with excess
capacity sold back to the national grid
● Telecommunications providers will
supply last mile connectivity
Infrastructure
● Modular Floor Layout for Office Space
● Scalable office Infrastructure
(28-38,000 Sq. Ft. - Single Floor Plate)
● Earthquake and Hurricane resistant
infrastructure
● Centralized air-conditioning & AHUs
located on each floor
● OFC and Structured Cabling Network.
●			Private	dedicated	power	supply	[IPP]
● 100% Power Backup Support
● 24 hour uninterrupted water supply
● Large Capacity, High Speed Passenger
and Service Lifts
Amenities
● Security - Access Control and Electronic
Surveillanceww
● Transportation services
NAGGO HEAD ICT PARK
PORTMORE MUNICIPALITY
11
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
● Ample Parking Space.
● Beautifully landscaped area comprising of
manicured lawns and gardens.
Development Incentives
Real Estate/Land
The Jamaican Government has placed the 21 Acres
of land at Naggo Head in a Public-Private partnership
(PPP) vehicle for development. The Urban Renewal Act
and Factory Incentives Act offer attractive tax-free Real
Estate benefits to encourage development.
Free Zone
Park clients who export more than 85% of their
services offshore will benefit from the following:
● No restriction on repatriation of foreign exchange
● Corporate tax exemption on profits in perpetuity
● Import duty exemption on capital equipment
● Reimbursement of VAT on local purchases
Training: The National Training Agency
The HEART Trust/National Training Agency gives tech-
nical support and financing for employment training
through an island-wide network of institutions, and
via on-the-job training/ partnerships with community
organizations. The agency partners with start-up in-
vestors to promote worker training and certification.
It has particular interest in high-skilled jobs where
training leads to certification. The agency offers finan-
cial assistance, usually in partnership with the firm, to
fashion on-the-job and in-plant curricula for compa-
nies creating new jobs. Project support are negotiated
and driven on specific project analysis.The Agency also
helps to recruit and screen applicants and assesses and
certifies on-the-job learners. Limited financial support
offered to firms that pursue accreditation as a training
organization.
Marketing
The Government of Jamaica through its Investment Promo-
tions Agency, Jamaica Trade and Invest/JAMPRO will help
facilitate marketing of the ‘Naggo Head ICT Business Park’ in
conjunction with the Real Estate developer.
Project Costing
Total investment for the completion of the buildings is esti-
mated	at	approximately	US$	45	million.	A	measure	of	US$	75	
is	estimated	per	square	foot	to	build	with	another	US$	75	per	
square foot for fit out.
Infrastructure works investment is projected at approximately
US$	60	million.
NAGGO HEAD ICT PARK
PORTMORE MUNICIPALITY
INFORMATION COMMUNICATIONS
TECHNOLOGY ICT)
12
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
The Tinson Pen Logistics Center proposes the development of an inter-
national, multi modal logistics and distribution center on 40 hectares of
land, which is currently occupied by the Tinson Pen Aerodrome. The de-
velopment of the Centre will include display areas, administrative
facilities, warehouses and the construction of a new aerodrome and as-
sociated facilities. The services to be provided include inter alia cargo lo-
gistics, warehousing and value added services. Located to the south-east
of Kingston, the property is zoned for industrial purposes and adjoins
the Port of Kingston and the Free Zone company operated by Kingston
Logistics Centre (KLC).
The facilities will consist of:
•	 showrooms	and	display	pavilions;	
•	 warehouses	for	value-added	and	fulfillment	services;	
•	 information	and	trade	research	center;	
•	 offices	(customs,	administrative	and	support	services).	
Key Highlights
•	 The	estimated	value	of	Investment	required	is	US$400	mn
•	 A	Feasibility	Study	is	currently	underway
•	 The	land	is	owned	by	the	Government	of	Jamaica
TINSON PEN LOGISTICS CENTRE
DEVELOPMENT
LOCATION: KINGSTON
Navy Island is a small 25 hectare island on the northeast coast of Jamaica
owned by the Port Authority of Jamaica (PAJ/The Authority). PAJ is de-
sirous of developing the property into an upscale resort and ecological
theme park. The property is in close proximity to Port Antonio’s upscale
tourism destinations, as well as the Ken Jones Aerodrome and has two
natural beaches. The Authority, is aggressively seeking a suitable inves-
tor who is willing to purchase or partner with The Authority for the fu-
ture development of the property.
Key Highlights
•	 There	are	two	natural	beaches	on	the	western	shore	of	the	island:		
Crusoe Beach and the v e r y s e c l u d e d Trembly Knee Beach
•	 Close	proximity	to	the	Errol	Flynn	Marina,	a	32-slip	mega	-yacht	
marina, and the Ken Wright Cruise Terminal
•	 Access	to	electricity	and	water	from	the	mainland
•	 Highway	2000	connectivity	to	other	premier	destinations	on	the		
North Coast
NAVY ISLAND/TITCHFIELD LANDS
LOCATION: PORTLAND
LOGISTICS/TOURISM
13
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
AIR CARGO, LOGISTICS, AVIATION
The re-development of the Vernamfield
property into a major air cargo hub, aircraft
maintenance and aviation training facility, as
well as a local military base, began as a con-
cept almost 20 years ago.
Located in central Jamaica, Vernamfield
comprises 1,773 hectares or 2,900 acres of
land, which makes it larger than Manhattan,
New York.
Current capacity includes a 5,000-foot con-
crete runway. The total development project
is	estimated	at	US$1	billion	to	design	and	
construct two parallel 11,000 foot runways
and taxi ways. These rehabilitated runways
will have the capacity to handle the largest
aircraft, including the Antonov AN-124, AN-
225 and the Airbus A-380. The development
includes the construction of Category Five
hurricane-proof aircraft hangers, which will
include offices and warehousing.
Once Vernamfield is developed, it will pro-
vide a new airport for cargo carriers, manu-
facturing and logistics, specifically:
•	 Air Cargo (centralized sorting and clear-
ance centres)
•	 Express Courier Cargo Handling Facility
•	 Fully equipped aerodrome with tele-
communications centre and flexible
runway capacities
•	 Air/Sea Logistics (distribution centres,
commercial space for trade shows, fire
and rescue station)
•	 Dry port concept (warehousing facility
for off-site manufacturing and assembly
plants)
•	 Aircraft maintenance facility
Historically, Vernamfield was the best loca-
tion in the region for the USA’s Intermodal
transportation system, and for the protec-
tion of their merchant fleets.
Its re-development has been the long-nur-
tured brainchild of veteran parliamentarian
and current Minister of Transport and Works,
Mike Henry, who has set out to make the
project a major catalyst for economic devel-
opment in the parish of Clarendon and the
broader central Jamaica region.
Vernamfield
Development Project
Several Incentives will be offered to Investors which
will result in greater levels of profitabiity and ease in
doing business.
These include:
•	 Industry Incentives Act: If a business in Jamaica
produces an“approved product”that has a supply
market of less than 60% of the demand market,
then it may gain “approved enterprise” status,
which exempts it from the payment of income tax
for a period of time.
•	 Foreign Sales Corporation (FSC) Act: An FSC is a
foreign corporation that is allowed to earn some
tax exemption on its exports to the U.S. This act
provides relief from the Common External Tariff
and the General Consumption Tax on equipment,
machinery, and materials coming into the coun-
try. In addition, it provides for up to five years of
income tax relief.
•	 International Financial Companies Act: In an effort
to promote offshore banking facilities, Jamaica
has provided international financicompanies with
income tax relief on both profits and capital gains.
VERNAMFIELD DEVELOPMENT
LOCATION: CLARENDON
14
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
Incentives cont’d
•	 Shipping Act: Once a company is recognized as an “ap-
proved shipping corporation,” it may receive tax relief and
concessions on import duties for up to 10 years.
•	 Moratorium on Duties: This is granted to companies that
don’t qualify for existing incentives, yet have the potential
to	contribute	significantly	to	foreign	exchange	earnings	
and employment. If the company can prove that it holds
this	potential,	it	may	be	granted	relief	from	import	duties	
for	up	to	three	years	by	the	Minister	of	Finance.	
•	 NOTE-	Most	of	these	legislations	will	be	reviewed	or	are	in	
the	process	of	review	to	expand	the	services	being	offered	
as well as to present Jamaica as more in tandem with the
demands	of	globalization.	It	will	demonstrate	Jamaica	as	
open	and	ready	for	robust	trade.
VERNAMFIELD DEVELOPMENT PROJECT
AIR CARGO, LOGISTICS, AVIATION
15
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
BACK RIO GRANDE HYDRO SCHEME
LOCATION: PORTLAND
Investment Type: Equity
Description: Construction of 4 hydro –electric schemes with total
capacity of 10mw and annual generation
potential of 32,210 MWH
Stage of Investment
Readiness: Proof of Concept
Value	of	Investment:	 US$34	m
Status: Feasibility study completed in December 2009
RENEWABLE ENERGY
GREAT RIVER HYDROPOWER PLANT
LOCATION: GREAT RIVER, ST. JAMES
Investment Type: Equity
Description: Construction of a hydropower plant with total
capacity of 8 mw and annual generation of 38,000 MWH
Stage of Investment
Readiness: Concept developed
Value of Investment: The value of Investment required is to be
determined.
Status: The value of Investment required is to be determined.
LAUGHLANDS HYDROPOWER
LOCATION: GREAT RIVER, ST. ANN
Investment Type: Equity
Description: Construction of a hydropower plant with total
capacity of 2 mw.
Stage of Investment
Readiness: Proof of Concept
Value	of	Investment:	 	 US$6.7	mn
Status: Feasibility study completed in December 2009
16
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
Project Overview
The	global	offshore	financial	sector	is	a	$5	
to	 $7	 trillion	 dollar	 global	 industry	 that	 has	
been	identified	by	Jamaica	as	a	key	area	for	
investment	 stimulation.	 The	 establishment	
of	 an	 offshore	 International	 Financial	 Ser-
vices	Centre	(IFSC),	where	relatively	large	
numbers	 of	 financial	 institutions	 become	
engaged	in	business	primarily	with	non-resi-
dents, represents a clear opportunity for the
Government	of	Jamaica	to	accrue	substan-
tial annual recurring revenues from statutory
fees. There are approximately 80 jurisdic-
tions that offer these services worldwide.
Having commissioned a comprehensive
KPMG	study	of	the	global	IFSC	market,	Ja-
maica has developed a clear strategy to en-
ter	the	market	with	a	unique	business	mod-
el, predicated on its politically independent
structure	of	Government	and	stable	financial	
system.
Investment Opportunity
The	 establishment	 of	 an	 offshore	 financial	
services centre is a key investment initiative
of	 the	 government	 of	 Jamaica.	 The	 objec-
tive	 is	 to	 leverage	 Jamaica’s	 strengths	 by	
entering	 the	 market	 as	 a	 Mid-Value	 Com-
petitor with a carefully planned strategy of
developing into a Centre of Excellence. As
a	 Mid-Value	 Competitor,	 we	 will	 develop	 a	
niche	market	and	build	our	reputation	in	the	
market	until	we	become	a	global	provider	of	
a highly specialized niche service.
The focus is on the provision of value-added
services, e.g. international holding compa-
nies, trust services, ship and aircraft registry
etc.,	which	are	enhanced	by	critical	success	
factors such as:
●		Jamaica	being	a	signatory	to	thirteen	
				double	taxation	treaties	and	to	a	Tax	
Information Exchange Agreement
(TIEA) with the United States.
●		Strong	financial	regulatory	system	and
				membership	on	regional	and	international				
				regulatory	bodies,	including	the	Caribbean
				Financial	Action	Task	Force	(CFATF)
● A large cadre of highly trained
English speaking professionals
● World-class telecommunications
● A mature tourism product with
excellent air links
● The capacity to host large meetings in
convention hotels, with more than
20,000 rooms
The	 vision	 of	 the	 IFSC	 is	 that	 multi-laterals	
and	other	enterprises	will	find	these	attributes	
attractive, particularly given that Jamaica
could position itself as a pool of relatively low
cost professional resources for international
finance	companies	seeking	to	reduce	cost.
INTERNATIONAL FINANCIAL SERVICES CENTRE
FINANCE
17
JAMAICA
INVESTMENT OPPORTUNITIES
PRIVATE PROJECTS
18
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
AMATERRA
Amaterra	Jamaica	Limited,	a	proposed	five-star	resort	and	mixed-
use development with a championship golf course and other at-
tractions, is located in the vicinity of Duncans in the parish of Tre-
lawny.
It is situated next door to the site of the exclusive Harmony Cove
development,	and	will	be	constructed	on	865	acres.	The	project	
is	potentially	one	of	Jamaica’s	flagship	mixed-use	developments,	
with plans that call for the construction of villas, condominiums and
hotels. Additionally, there is an ideal site for a conference centre
and/or casino with a natural outdoor amphitheatre.
Proposed Features
•			2300	hotel	rooms	in	exclusive	five	star	hotels
•			2000	villas	and	town-home	lots
•			Luxury	apartments
•			Championship	Golf	Course
•		100-acre	Commercial	Centre
Key Highlights
•	 Proximity	to	Airport	-	Approximately	30	minutes	from		 	
the Sangster International Airport.
•	 3.5	km	of	scenic	ocean	frontage	ranging	from	white		 	
	 sand	beaches	to	majestic	limestone	cliffs.
•	 Approvals	Granted	-	Subdivision	and	environmental	
	 approvals	have	already	been	secure.
Incentives Available
•			 The	Hotels	(Incentives)	Act	provides	income	tax	
relief and import duty concessions for up to 10
	 years	for	approved	hotel	enterprises,	and	15	years		 	
	 for	convention-type	hotels	with	350	or	more	bed	 	 	
rooms.
•	 The	Resort	Cottages	(Incentives	Act)	provides	
resort cottages with income tax relief for up to seven
	 (7)	years	and	import	duty	concessions	on	imported		 	
	 building	materials	and	furnishings.
TOURISM
19
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
•	 The	Resort	Cottages	(Incentives	Act)	provides	
resort cottages with income tax relief for up to
	 seven	(7)	years	and	import	duty	concessions	on		 	 	
	 imported	building	materials	and	furnishings.
NEGRIL PENINSULA
The	Negril	Peninsula	Resort	is	a	unique	concept	that	
brings	together	the	natural	resources	of	Jamaica	with	
first	 class	 resources	 in	 leisure,	 technology	 and	 both	
physical	and	spiritual	well-being,	to	create	a	vacation	
lifestyle experience.
This	mixed-use	development,	to	be	constructed	in	four	
phases, is consented for 1,202 residential units, three
hotels and a new marina to accept keeled yachts and
medium-sized	ocean-going	vessels.	Additionally,	five	
new	 beaches	 will	 be	 created	 to	 complete	 this	 new	
coastal destination.
The coastal shoreline of approximate-
ly	 one	 kilometre,	 which	 is	 fronted	 by	 the	
Caribbean	 Sea	 to	 the	 south,	 will	 also	 accom-
modate	 the	 creation	 of	 five	 new	 beaches.	 For	
sustainability,	 a	 substantial	 part	 of	 the	 lower	 ba-
sin	 has	 been	 earmarked	 for	 commercial	 life	 and	
will	 see	 the	 establishment	 of	 office	 buildings,	
retail areas, restaurants, sports and leisure
facilities. The development will also include a security
centre	and	medical	facilities,	and	will	be	completed	in	
four	phases	over	a	period	of	five	years.
Key Highlights
•	 Proximity	to	Airport	(Approximately	
90 minutes to the Sangster International
Airport in Montego Bay).
•	 Great	sunsets
•	 Seven	miles	of	white	sand	beach	nearby.
•	 Idyllic	getaway
•	 Approvals	Granted	(Resort	&	Hotel	Permits/
licences, Marina and Boat Yard Permit,
Planning Approval etc.)
Incentives Available
•	 The	Hotels	(Incentives)	Act	provides	income	tax	
relief and import duty concessions for up to 10
years	for	approved	hotel	enterprises,	and	15			
	 years	for	convention-type	hotels	with	350	or	more	
	 bedrooms.
TOURISM
20
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
GREEN CASTLE ESTATE
LOCATION: ST. MARY
Located on a 1,591 acre of prime real estate property near Annotto Bay (north
coast), 20 miles from Kingston, this project proposes the construction of high end
sustainable, eco-friendly accommodations. Of the 1591 acres, the initial plan indi-
cates construction on only 213-400 acres. The development will create a luxury,
low impact mixed used residential resort that will be environmentally, economi-
cally and socially sustainable.
Main features
•	 Beach	hotel	of	200	keys	
•	 Luxury	hotel	of	150	keys	
•	 Estate	residences	–	75	lots	
•	 Beach	Casitas	(15)
•	 Hillside	residences		-40	lots
•	 Equestrian	center	
Key highlights
•	 Highway	2000	connectivity	
•	 Close	proximity	to	the	Boscobel	Aerodrome	(St.	Ann)
•	 Beachfront	property	spanning	2	miles	on	the	coast	of	the	Caribbean	Sea	
TOURISM
21
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
BARRETT HALL LIFESTYLE VILLAGE
LOCATION: ST. JAMES
Barrett Hall, a 429 acre site located approximately 15 miles from
Montego Bay, Jamaica’s tourism capital, was identified as a well
suited location for a retirement village. The site was chosen for sev-
eral reasons, including:
•	 Close	proximity	to	the	beach	front	(only	0.25	miles	away)
•		 Nearby	health	facilities	in	Montego	Bay
•	 	Its	gentle	sloping	view	of	the	Caribbean	sea
•		 The	fact	that	it	is	only	20	minutes’	drive	from	Sangster	
International Airport – one of the largest and most successful
airports in the Caribbean, with connections to a host of
destinations worldwide.
•	 	Its	proximity	(5	miles)	to	the	“Elegant	Corridor”	which	hosts		 	
premier resorts such as the Ritz Carlton, Half Moon Club
and Sandals Royal Caribbean
The advantages of investing in this project include:
•	 Jamaica’s	close	proximity	to	Florida,	the	third	most	popular		 	
retirement destination in the United States
•	 The	development	of	a	new	private	hospital,	the	Hospiten	Group,		
which operates an international network of private hospitals
located in major cities and tourist towns in countries such
as Spain, the Dominican Republic and Mexico
TOURISM
•	 Proximity	to	the	North	Coast	Highway
•	 Located	approximately	15	minutes	from	recently	
modernized Sangster’s International airport
•	 Proximity	to	other	proposed	major	developments	in	the		
area including an ultra luxury resort that will offer casino
gaming and is approximately 15 minutes away from the
location of the Lifestyle Village.
The estimated value of Investment required for this
	 project	is	US$63.5	mn
22
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
BARNETT TECH PARK
LOCATION: ST. JAMES
Investment Type: Equity
Description: The Barnett Tech Park consists of 10 fully serviced lots within a 46 acre (18.6 Ha) gated
complex in the Fairfield area. The Tech Park is located on the western side of Montego Bay,
approximately 15 minutes from the Sangster International Airport, 5 – 10 minutes from major
hotels, restaurants and other leisure activities. It is approximately 8 – 15 minutes from the
various univer¬sities in St. James.
Stage of Investment
Readiness: Concept developed
Value	of	Investment:	 	 US$1.8	bn
Status: The principals obtained outline development approval from the local authority
INFORMATION COMMUNICATIONS
TECHNOLOGY ICT)
23
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
•	 The	Resort	Cottages	(Incentives	Act)	provides		
resort cottages with income tax relief for up to
seven (7) years and import duty concessions
on imported building materials and furnishings.
COTTON TREE BAY
Cotton Tree Bay is a short drive away from the casual, laid-
back	resort	town	of	Negril,	which	is	famous	for	its	seven-
mile	beach	strip.	The	new	super	highway	between	Montego	
Bay and Negril gives easy access to the property, which
consists	 of	 approximately	 200	 acres.	 It	 boasts	 two	 miles	
of waterfront starting at the eastern point of Green Island
Bay in the parish of Hanover and continuing east along the
northern coastline.
Some	grooming	and	development	of	these	beaches	may	
be	necessary	to	bring	out	its	optimum	pristine	beauty.	This	
desirable	location	has	many	possibilities,	and	it	ideally	suit-
ed for marina, resort and/or residential development, villas,
hotels, spa facilities, exclusive residential homes and riding
stables.
Its extensive coastline could offer various water sports from
sailing,	snorkeling	and	scuba	diving	to	spear-fishing.	The	
turquoise	water	offers	local	flora,	fauna	and	marine	life.
Key Highlights
•	 Proximity	to	Airport	-	Cotton	Tree	Bay	is	a	
50-minute drive from Montego Bay, but the
Negril Aerodrome has daily flights arriving from
the Sangster International Airport in Montego
Bay, which is 20 minutes in the air in each
direction.
•	 Great	Sunsets
•	 Beach	on	property	and	nearby	access	to	
Negril’s famed seven-mile white sand beach.
•	 Idyllic	and	secluded	getaway
Incentives Available
•	 The	Hotels	(Incentives)	Act	provides	
income tax relief and import duty concessions for up
to 10 years for approved hotel enterprises, and 15
years for convention-type hotels with 350 or more
bedrooms.
TOURISM
24
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
LAUGHLANDS
This property is located in St. Ann, known as Jamaica’s garden parish. It is
immediately off the north coast highway and is 124 acres with sea frontage.
The property sits next door to the Chukka Cove polo grounds and boasts
two main spectacular beach locations.
It is also in close proximity to an air strip for light planes, which can be ac-
cessed by reservation. Laughlands, due to its location and pristine white
sand beach stretches, is well poised for high-end resort development.
Key Highlights
•	 Proximity	to	Airport	-	1	½	hrs	from	Sangster	
International Airport
•	 Approvals	Granted	-	There	is	an	approved	
development plan, which includes the construc-
tion of hotels, condominiums or any mixture of
residential uses.
•	 Extensive	beach	and	cliff	frontage
Incentives Available
•	 The	Hotels	(Incentives)	Act	provides	income	tax	relief	and	
import duty concesions for up to 10 years for approved hotel
enterprises, and 15 years for convention-type hotels with 350 or more
bedrooms.
•	 The	Resort	Cottages	(Incentives	Act)	provides	resort	cottages	with	
income tax relief for up to seven (7) years and import duty
concessions on imported building materials and furnishings.
TOURISM
25
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
MAHOE BAY
This	38-acre	property	situated	in	Mahoe	Bay,	St.	James,	is	
within a short distance from Sandals Cay, which is owned
by	the	Sandals	Group,	and	15	to	20	minutes	away	from	the	
Sangster	International	Airport	by	car.
Proceeding	east	to	west,	the	coastline	of	the	first	third	of	
the	site	is	very	well	protected	by	a	wide	coral	reef	that	just	
breaks	the	surface	of	the	sea	at	roughly	300	feet	out.	Look-
ing west as the coral reef narrows and provides a natural
opening	to	the	sea,	the	coastline	recedes	to	form	a	double,	
white	 sand	 crescent	 beach	 that	 offers	 a	 beautiful	 beach	
front.
Three	hotels	have	been	identified	for	construction	on	the	
property,	two	of	which	have	been	granted	preliminary	ap-
proval. Due to the proximity of the Sangster International
Airport,	the	recommended	height	for			development	is	five	
stories.
Key Highlights
•	 Proximity	to	Airport	–	Mahoe	Bay	is	15	to	20	
minutes from the Sangster International Airport.
•	 Beautiful	white	sand	beach	front
•	 Approvals	already	granted	for	time	share	and	
hotel construction.
Incentives Available
•	 The	Hotels	(Incentives)	Act	provides	income	tax	
relief and import duty concessions for up to 10
	 years	for	approved	hotel	enterprises,	and	15	
	 years	for	convention-type	hotels	with	350	or	more			
	 bedrooms.
•	 The	Resort	Cottages	(Incentives	Act)	provides	
resort cottages with income tax relief for up to
	 seven	(7)	years	and	import	duty	concessions	on
	 imported	building	materials	and	furnishings.
TOURISM
26
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
MOSQUITO COVE
Mosquito	 Cove,	 a	 unique	 property	 equi-distant	 between	
Hopewell and Lucea in Hanover, is an ideal property for a
marina	and	hotel	development.	The	cove	is	protected	by	a	
reef,	but	allows	easy	access	to	yachts	entering	the	calm,	
protected	bay.
The	71-acre	property	is	located	on	the	eastern	side	of	the	
bay	and	is	north	of	the	highway	from	Montego	Bay,	Jamai-
ca’s second city.
South of the highway, approximately 200 acres of land rises
gently	and	can	be	developed	into	a	golf	course.	The	west-
ern side of the land is 14 acres and has a small white sand
beach.	The	owners	will	sell	parts	of	the	property	that	bear	a	
number	of	different	land	titles.
Key Highlights
•	 Proximity	to	Airport	–	Mosquito	Cove	is	
40 minutes from the Sangster International Airport.
•	 Beach	on	property.
•	 Excellent	prospects	for	marina	and	hotel	
development.
Incentives Available
•	 The	Hotels	(Incentives)	Act	provides	income	tax	
relief and import duty concessions for up to 10
	 years	for	approved	hotel	enterprises,	and	15		 	 	
	 years	for	convention-type	hotels	with	350	or	more	
	 bedrooms.
•	 The	Resort	Cottages	(Incentives	Act)	provides	
resort cottages with income tax relief for up to
	 seven	(7)	years	and	import	duty	concessions	on	
	 imported	building	materials	and	furnishings
TOURISM
27
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
SAN SAN
The San San Estate is one of the few remaining pristine
properties in Jamaica where there is an opportunity for high-
end resort development. The property is located in Portland
on	the	eastern	end	of	the	island	and	sits	on	a	total	of	600	
luxurious acres. On the property, the scenic San San Bay
consists of 10 acres with unsold villa lots and an 18-hole
golf	course.	There	is	a	significant	portion	of	the	land	that	is	
not yet developed, which offers exciting potential for villas,
a hotel and the maximisation of the golf course.
Key Highlights
• Proximity to Airport - Approximately 2
	 ½	hrs	by	road	or	20	minutes	by	air	to	the	
Norman Manley International Airport (NMIA)
Incentives Available
The Hotels (Incentives) Act provides income tax relief and
import duty concessions for up to 10 years for approved
hotel	enterprises,	and	15	years	for	convention-type	hotels	
with	350	or	more	bedrooms.
The	Resort	Cottages	(Incentives	Act)	provides	resort	cot-
tages	with	income	tax	relief	for	up	to	seven	(7)	years	and	
import	duty	concessions	on	imported	building	materials	and	
furnishings.
TOURISM
28
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
WHITE BAY
White	Bay,	ideally	located	close	to	Falmouth,	Trelawny	on	
the	north	coast	of	the	island,	is	a	superb	beach	front	prop-
erty with access to the new North Coast highway.
Permission	for	resort	development	of	30	villas	and	40	cot-
tages,	or	a	small	hotel	with	the	equivalent	rooms	has	been	
granted	and	could	be	increased	subject	to	the	requisite	ap-
provals	being	granted.	Due	to	the	fact	that	there	are	no	riv-
ers	nearby,	the	water	is	crystal	clear.	The	topography	of	the	
land	allows	for	villas	to	be	built	behind	the	beach	and,	as	the	
land rises, all villas can have a sea view.
The	main	white	sand	beach	in	the	western	section	is	ap-
proximately 1,200 feet. The eastern section is roughly 2,000
feet	half	of	which	is	rocky	cliffs.	Construction	can	begin	at	
White Bay immediately.
Key Highlights
•	 Proximity	to	Airport	–	White	Bay	is	30	minutes	from
the Sangster International Airport.
•	 Beach	on	property.
•	 Approvals	granted	for	resort	and	small	hotel	
development.
Incentives Available
•	 The	Hotels	(Incentives)	Act	provides	income	tax		
relief and import duty concessions for up to 10
	 years	for	approved	hotel	enterprises,	and	15	years	
	 for	convention-type	hotels	with	350	or	more	
	 bedrooms.
•	 The	Resort	Cottages	(Incentives	Act)	provides	
resort cottages with income tax relief for up to
	 seven	(7)	years	and	import	duty	concessions	on
	 	imported	building	materials	and	furnishings.
TOURISM
29
JAMAICA
INVESTMENT OPPORTUNITIES
DIVESTMENT PROJECTS
30
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
NORMAN MANLEY INTERNATIONAL AIRPORT
& SELECT GOJ AERODROMES
LOCATION: KINGSTON
Investment Type: Public Private Partnership
Description: NMIA is a one of two international air
ports in Jamaica. The existing concession
at NMIA is for a period of 30 years commenc-
ing October 2003. The divestment of NMIA
is being packaged to include the expansion
and development of other government owned
aerodromes including Negril, Boscobel, Ken
Jones, Vernamfield and Duckenfield
Stage of Investment
Readiness: Concept developed/ Pre-divestment
and Data Collection
Value of Investment: The value of Investment required is to be
determined.
Status: Technical, Market and Environmental Studies to
be done.
TRANSPORTATION
31
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
MAVIS BANK COFFEE FACTORY LTD. (MBCFL)
LOCATION: MAVIS BANK, ST. ANDREW
The Mavis Bank Coffee Factory, MBCF, is Jamaica’s largest and only fully integrated Jamaica
Blue Mountain® Coffee facility. The factory produces a diverse line of authentic 100% Ja-
maica Blue Mountain coffee sold under the Jablum brand and includes Blue Mountain Cof-
fee (roasted beans), Instant Coffee and Liquid Coffee Beverages. Approximately 1.4 million
pounds of green beans from over 6000 farmers are processed at the factory annually. The
Mavis Bank Coffee Factory Limited has had sales revenue over the last few years ranging
between	US$8	million	and	US$11.6	million	per	annum.
AGRICULTURE/AGRO-PROCESSING
WALLENFORD COFFEE COMPANY LTD (WCCL)
LOCATIONS: KINGSTON, CLARENDON, ST. CATHERINE,
ST. ANDREW, PORTLAND, ST. ELIZABETH AND ST. CATHERINE
The Wallenford Coffee Company is one of the largest licensed processors and exporters
of Jamaica Blue Mountain Coffee. The company is vertically integrated and is involved in
the purchasing, growing and processing components of the business process. Its Coffee
Farms are located in Kingston, Clarendon, St. Catherine, St. Andrew, Portland, St. Elizabeth
and St. Catherine. The Government of Jamaica is seeking investors who will undertake the
financing, development, operation and management of the WCCL.
The	Company	has	assets	valued	at	over	US$20	million	and	has	revenues	of	over	US$7	mil-
lion per annum in recent years.
32
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
THE OCEANA BUILDING
LOCATION: DOWNTOWN, KINGSTON
Investment Type: Equity
Description: The Oceana Building, formerly
a 200 room Oceana Hotel,
comprises of 12 floors located
on the scenic Kingston waterfront.
The building covers 222,129.44 sq. ft.
Stage of Investment
Readiness: The project is ready for investment
Value of Investment: Valuation available
Status: Expressions of interest requirements
include: business plan, physical plan,
financials, and other
REAL ESTATE
THE OFFICE CENTRE BUILDING
LOCATION: DOWNTOWN, KINGSTON
Investment Type: Equity
Description: The Office Centre Building comprises
of 12 floors with office spaces
located on the scenic Kingston
waterfront. The building covers
222,880 sq. ft.
Stage of Investment
Readiness: The project is ready for investment
Value of Investment: Valuation available
Status: Expressions of interest requirements
include: business plan, physical plan,
financials, and other.
33
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
FONT HILL
LOCATION: ST. ELIZABETH
The Font Hill property which comprises 1,054.5 hectares is
located on the south coast of Jamaica, approximately 8 km
west of Black River, in the parish of St. Elizabeth. The property is
owned and operated by the Petroleum Corporation of Jamaica
(PCJ) a statutory corporation and an agency of the Ministry of
Energy and Mining and is being zoned to facilitate development
in the areas of Agriculture, Tourism, Port & Logistics Facilities.
The Font Hill property has a unique and diverse ecosystem in
the wetland area. It is home to several protected, endemic and
rare species of wild life. It boasts a wide variety of endemic bird
species, turtles, crocodiles, indigenous plants and an extensive
mangrove wetland.
The land is constantly being developed by the PCJ. Studies have
been conducted for agriculture fuel wood pilot project, plans
drawn up for forest reserves, wildlife sanctuary and resort/resi-
dential and public beach park.
Land Features
•	 Pockets	of	white	sand	beach
•	 Approximately	7.5	km	of	beach	frontage
•	 Limestone	hill
TOURISM
34
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
For further information on these
investment projects, contact:
Claude Duncan
V.P. Investment Promotion
JAMAICA PROMOTIONS CORPORATION
18 Trafalgar Road
Kingston 10, Jamaica
T: 1 876 978-3337 ext. 2201
F: 1 876 978-0140
E: cduncan@jamprocorp.com
35
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
NOTES
36
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES
NOTES
HEAD OFFICE
18 Trafalgar Road
Kingston 10, Jamaica W.I.
Phone: +1 876 978 7755; 978-3337
Toll Free: +1 877 INVESTJA (468 4352)
Fax: +1 876 946 0090
email: info@jamprocorp.com
NORTH AMERICAN REGIONAL OFFICE
303 Eglinton Avenue East, 2nd Floor
Toronto, Ontario, M4P 1L3, Canada
Tel: 416-932-2200 (main) 416-598-3008
Fax: 416-932-2207
Toll-Free: 1-877-744-2208
E-mail: rkerr@jamprocorp.com
LONDON OFFICE
JAMPRO / Jamaica Trade Commission
1 Prince Consort Road,
London SW7 2BZ, England
Phone: + 44 20 7 584 8894
Fax: + 44 20 7 823 9886
email: jamprouk@jamprocorp.com

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JAMPRO - Jamaica Investment Opportunities - Sept2010

  • 2. 1 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES Ideal Location and accessibility Gateway to multiple destination EST Time Zone - convenient for doiong business with the USA, Latin American and Caribbean One hour from Miami Three Hours from New York Time zone 0-3 hours from North America & 5-6 hours from Europe Main shipping lanes for Panama Canal Stable Government & Economy Independent Judiciary Diversified and well developed capital market No foreign exchange controls Increased privatisation of public sec- tor companies Liberal export incentives Liberal Import Policies Educated English-speaking workforce Skilled, semi-skilled labour Intensive Infrastructure Efficient Telecomunications Tropical climate WHY JAMAICA?
  • 3. 2 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES Why Jamaica 1 About Jamaica 3 JAMPRO & Partners 6 GOVERNMENT OF JAMAICA PROJECTS: Caymanas Economic Zone 8 Naggo Head ICT Park 10 Tinson Pen Logistics Centre Development Centre 12 Navy Island/Titchfield Lands 12 Vernamfield Development Project 13 Back Rio Grande Hydro Scheme 15 Great River Hydropower Plant 15 Laughlands Hydropwer 15 International Financial Services 16 PRIVATE PROJECTS Amaterra Jamaica Ltd. 18 Negril Peninsula 19 Green Castle Estate 20 Barrett Hall Lifestyle Village 21 Barnett Tech Park 22 Cotton Tree Bay 23 Laughlands Tourist Development 24 Mahoe Bay 25 Mosquito Cove 26 San San 27 White Bay 28 DIVESTMENT PROJECTS: Norman Manley International Airport (NMIA) 30 Wallenford Coffee Company Lid. (WCCL) 31 Mavis Bank Coffee Factory Limited (MBCFL) 31 The Oceana Building 32 The Office Centre Building 32 Font Hill 33 CONTENTS
  • 4. 3 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES Jamaica operates a mixed market economy. The main sectors include agriculture, mining, manufactur- ing, tourism, financial and insur- ance services, transport, and com- munications. The services sectors account for two-thirds of gross do- mestic product. As an open econo- my, Jamaica is well integrated into the global economy with external trade contributing prominently to overall economic activity. ABOUT JAMAICA
  • 5. 4 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES ABOUT JAMAICA JAMAICA’S INFRASTRUCTURE FOR FOREIGN DIRECT INVESTMENTS Jamaica is advanced in modernising its port, air- ports, roads, telecommunications, water supply and sewerage infrastructure. Investment in in- frastructure is an important priority in national development, having regard to its impact on the competitiveness in the economy. The island has been a high performer in attracting foreign direct investment over recent years particularly in the area of tourism, and this performance has been attributed to improvements in its infrastructure. Jamaica has nine active ports. The Port of Kings- ton is the largest, which at 21 square kilometres of navigable water, is the seventh largest natural harbour in the world. Located along the north/ south, east/west axis of the Caribbean, the port is just 32 miles from the trade routes that pass through the Panama Canal. The Port of Kingston handles approximately 80% of all imports. It includes a modern container ter- minal, a large break-bulk wharf with roll-on/roll- o facilities, an oil renery and dry bulk terminal. The fully computerised terminal has 11 berths, backed by 40 hectares of container yard space. State of the art stevedoring equipment includes seven rail-mounted 40-ton gantry cranes, 30 straddle carriers, yard chassis and hustlers,reefer outlets and a freight station. With stellar infrastructure, competitive rates and a central location, the trans-shipment opportuni- ties in Jamaica are limitless. Our easy accessibility to the main shipping lanes that run through the Panama Canal makes the Port of Kingston even more attractive to international shipping compa- nies. Over 30 shipping lines have operations in Jamaica, covering all the major routes to the North and South American continents, Europe and the Far East. Ò The natural harbour in Kingston is the 7th largest in the worldÓ
  • 6. 5 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES ABOUT JAMAICA AIR TRAVEL Jamaica has two international airports, Norman Manley Interna- tional Airport located in Kingston and the Sangster International Airport in Montego Bay. Additionally, Jamaica facilitates domestic air travel through four aerodromes namely, Tinson Pen (Kingston), Ken Jones (Portland), Boscobel (St. Mary), and Negril (Westmore- land). The Norman Manley International Airport sits south of the Kings- ton Harbour on 228 hectares (563 acres) of land. It has a runway of 816 square metres (8,785 square feet) and is capable of accom- modating aircrafts up to the size of the Boeing 747. The Sangster International Airport runs along the northern strip of the country, 3.2 km from downtown Montego Bay. It’s on ap- proximately 235 hectares (580 acres) of land, with a runway of 809 square metres (8,700 square feet) and an associated parallel taxi- way running the full length of the runway. The redevelopment of the Sangster International Airport included the construction of a new concourse and the upgrading of the existing one, which has expanded the capacity of the airport to handle 9.5 million passen- gers per annum – 3 times its previous size. It was completed in August 2008. The airport handles the bulk of the traffic generated by the tourism industry and now possesses the most modern pas- senger facilities for shopping, immigration, customs and transport services in the Caribbean region. HIGHWAY 2000 HIGHWAY 2000 is the centre piece of a multi-year Millennium Projects Programme initiated by the Government of Jamaica . The main objective of these projects is to upgrade the country’s infrastructure and assist in providing economic opportunities for growth and the creation of jobs. The highway is a four to six lane controlled-access, tolled motor- way with fully grade separated interchanges and intersections built according to modern international standards. Sangster International Airport, Montego Bay Highway 2000
  • 7. 6 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES JAMAICA PROMOTIONS CORPORATION, JAMPRO JAMPRO is the Government of Jamaica’s investment and export promotion agency, which connects investors and entrepreneurs from around the globe to the trade and investment opportunities available in the leading sectors of the Jamaican economy. Operating under the direction of the Ministry of Industry, Investment and Com- merce, JAMPRO guides investors from the decision making stage, through the approvals process, to when their investments become operational. The agency focuses on the targeted sectors of tourism, manufacturing, agri-business, information and communication technology, mining, energy, and the creative industries (film, music and entertainment). www.tradeandinvestjamaica.org DEVELOPMENT BANK OF JAMAICA The Development Bank of Jamaica facilitates the growth and development of all viable enterprises in the productive sectors of the Jamaican economy. The DBJ provides direct lending for large projects in strategic areas, medium and long-term financing solutions to all entities, as well as supports the manage- ment and privatization of national assets and investments. www.dbankjm.com PORT AUTHORITY OF JAMAICA The Port Authority is the statutory corporation responsible for the regulation and development of Jamaica’s port and shipping industry. The corporation is responsible for the safety of all vessels navigating the ports of entry and the regulation of the tariffs charged on goods passing through the public wharves. In addition, the Port Authority regulates the establishment and operation of all port facilities, develops and manages safe, secure and efficient world-class port infrastructure in Jamaica and the related commercial operations that deliver sustainable growth while satisfying the needs of all stakeholders. www.portjam.com URBAN DEVELOPMENT CORPORATION The Urban Development Corporation has a mandate to stimulate urban devel- opment through the planning and implementation of comprehensive develop- ment projects and programmes. www.udcja.com PETROLEUM CORPORATION OF JAMAICA The Petroleum Corporation of Jamaica has been mandated to develop indig- enous renewable energy resources, to prevent adverse effects on the environ- ment and to realize the goals of Jamaica’s Energy Sector Policy. www.pcj.com The Development Bank of Jamaica facilitates the growth and development of The investment projects in this portfolio are managed/facilitated by the following government agencies:
  • 9. 8 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES MANUFACTURING/ICT Caymanas is ideally located for a technology park development, situated at the confluence of the major population centres of Kingston, Spanish Town and Portmore. All three loca- tions are 25-40 minutes from the Norman Manley International Airport with excellent public transportation and networked with the island’s Highway 2000. Modern shipping and trans-shipment services are less than 10 minutes away at the Port of Kingston, all underpinned by a sophisticated world-class telecommunica- tions backbone. • Kingston, national capital with an es timated population of 580,000, offers the region’s premier transportation centre as well as 146 schools, 6 management institutes and 4 universities. • Portmore is the largest middle– income dormitory community in the English-speaking Caribbean with over 265,000 residents many of whom have post-secondary educa- tion. • Spanish Town, Jamaica’s former capi tal has over 150,000 reside. The Caymanas Economic Free Zone (CEFZ) consists of 1500 acres of prime real estate, of which 40 acres have been earmarked for the development of phase 1 of the ICT Park which will house: Software Development, Telecommunications/Co-Location sites, Bio- Technology, Business Process Outsourcing (BPOs) and IT/Security Consultancy (NOC). Project Concept An integrated ecosystem built on a modular plan from seeding or staging site. • Intelligent self-contained City based on work-play-live and Knowledge Innovation Zone/Knowledge City concept • Staging site, training centre, light data centre facilities, meeting rooms and business centre • Immigration Services, Customs offices, Free Zone certification, one-stop window • Campus offices representing all major universities and recruitment/job fair centre • Support services include restaurants, banks, ATMs, daycare, doctors offices, emergency medical services, dedicated transportation hubs • Adjacent retail and recreational facilities and middle income residential develop ments for Knowledge Workers. The Staging Site Ready to occupy plug-and-play space in 50,000 sq feet (10 Units) holding up to 700 seats. Starter facility which permits new market entrants to pilot their business model in a cost effective manner on the condition that they build-out their own modular units in the ICT Zone and relocate in 1 year. Staging sites are also aimed at providing facilities to local entrepreneurs who can leverage world-class facilities within their constraining cost structures to provide sourcing services to global clientele. The Complete Project • 40 acres of land with 1,200,000 square feet of production space hosting 12,000 seats and up to 21,000 jobs. • Target rental rates of US$10 per square foot per annum • On-site power generation with excess capacity sold back to the national grid • Telecommunications providers will supply last mile connectivity Infrastructure • Modular Floor Layout for Office Space • Scalable office Infrastructure (28-38,000 Sq. Ft. Single Floor Plate). • Earthquake and Hurricane resistant infrastruc ture • Centralized air-conditioning & AHUs located on each floor • OFC and Structured Cabling Network. • Private dedicated power supply [IPP] • 100% Power Backup Support (supported by on-site power generation by utility partner) 24 hour uninterrupted water supply • Large Capacity, High Speed Passenger and Service Lifts CAYMANAS ECONOMIC ZONE CAYMANAS ICT PARK
  • 10. 9 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES Amenities • Security - Access Control and Electronic Surveillance. • Transportation services • Multi-Cuisine Food Courts, Banks and ATM’s, Retail Outlets, Busines Center, etc. • Ample Parking Space. • Beautifully landscaped area comprising of manicured lawns and gardens. Project Phasing: • Phase 1: Infrastructure works • Phase 2: Staging Site • Phase 3: Support facilities • Phase 4: Modular build-out based on client commitments Subdivision Plan with splinter titling, building specifications and ownership options: • Long term lease • Lease for purchase • Outright purchase Development Incentives: Real Estate/Land: The Jamaican Government has placed the 40 Acres of land at Caymanas in a Public- Private partnership (PPP) vehicle for development. The developer will take advantage of the following concessions offered under the Tax Incentive Programme for Urban Renewal (TIP): • Tax-free status on bonds issued • Tax credits of 25% of capital expenditure • 100% tax concessions on rental / lease income Marketing The Government of Jamaica through its Investment Promotions Agency, Jamaica Trade and Invest/JAMPRO will co-market the‘Caymanas ICT Business Park’in conjunc- tion with the Real Estate developer. Clients of the Park will receive the following benefits: Free Zone: Park clients who export more than 85% of their services offshore will benefit from the following: • No restriction on repatriation of foreign exchange • Corporate tax exemption on profits in perpetuity • Import duty exemption on capital equipment • Reimbursement of VAT on local purchases Training: The National Training Agency (NTA) The HEART Trust NTA gives technical support and financing for employment training, institutional and via on-the-job training/ partnerships with community organizations. The agency partners with start-up investors to promote worker training and certification with focus on high-skilled jobs where training leads to certification. Project Costing: Total investment for completion of buildings estimated at approximately US$ 90 million. Typical cost to build a facility is estimated at US$75 per square foot with an additional US$75 per square foot for fit-out. Investment for infrastruc- tural works is a projected US$120 million. Target rental rates: US$10 per square foot per annum. Typical time-to-build is 8 - 16 months. MANUFACTURING/ICT CAYMANAS ECONOMIC ZONE
  • 11. 10 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES INFORMATION COMMUNICATIONS TECHNOLOGY ICT) Demographics The Municipality of Portmore is the English- speaking Caribbean’s largest middle–income dormitory community, and a strategic location for Jamaica’s ICT development. With over 265,000 residents many of whom are tertiary educated; Portmore offers a large certified workforce and easy access to first-rate educational institutions. Accessibility Portmore is 10 minutes from the nation’s capi- tal – Kingston and 25 minutes from the Norman Manley International Airport with excellent road connectivity and infrastructure for communica- tion and utilities. It is connected by the Highway 2000 toll road as well as the Mandela Highway. Portmore’s attractiveness has captured the atten- tion of outsourcing industry heavy-weights such as Affiliated Computer Services (ACS), and West Corporation which facilitate the business process- ing needs of Fortune 500 clients such as Delta Air- lines, Xerox Corporation and Proctor and Gamble. Jamaica’s world class telecommunications in- frastructure extends to Portmore. The Fibralink submarine cable network provides enhanced de- livery of business and broadband traffic. Jamaica is linked to the Americas Region Caribbean Ring System (ARCOS-1) submarine cable in the Do- minican Republic; the link to ARCOS-1 provides seamless connectivity to US, parts of the Carib- bean, Central America, and South America. There are two major broadband carriers which provide triple redundancy. Project Concept Within Portmore, the Government of Jamaica has earmarked a region called ‘Naggo Head’ for the purposes of establishing 21 acre Technology Park which is expected to break ground in early 2011. The Naggo Head ICT Park is premised on an in- tegrated ecosystem built on a modular plan from seeding or staging site. Typical time-to-build is anywhere between 8 months to 16 months. The Staging Site Staging Sites have become a feasibly sound so- lution, serving as a stop-gap measure for clients while their decisions surrounding total real estate requirements are satisfied – custom buildings, large-scale facility lease, corporate-design fit- outs etc. Staging Sites are meant to provide cli- ent organizations with a facility to deploy “plug- and-play” models with their chosen businesses. In addition such sites are also aimed at providing facilities to local entrepreneurs who can leverage world-class facilities within their constraining cost structures to provide sourcing services to global clientele. Typically such sites have the configura- tion as shown on Figure 1 overleaf. (See Fig. 1) The Complete Project ● 600,000 square feet hosting approximately 6,500 seats and up to 12,000 jobs. ● Target rental rates of US$10 per square foot per annum ● On-site power generation with excess capacity sold back to the national grid ● Telecommunications providers will supply last mile connectivity Infrastructure ● Modular Floor Layout for Office Space ● Scalable office Infrastructure (28-38,000 Sq. Ft. - Single Floor Plate) ● Earthquake and Hurricane resistant infrastructure ● Centralized air-conditioning & AHUs located on each floor ● OFC and Structured Cabling Network. ● Private dedicated power supply [IPP] ● 100% Power Backup Support ● 24 hour uninterrupted water supply ● Large Capacity, High Speed Passenger and Service Lifts Amenities ● Security - Access Control and Electronic Surveillanceww ● Transportation services NAGGO HEAD ICT PARK PORTMORE MUNICIPALITY
  • 12. 11 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES ● Ample Parking Space. ● Beautifully landscaped area comprising of manicured lawns and gardens. Development Incentives Real Estate/Land The Jamaican Government has placed the 21 Acres of land at Naggo Head in a Public-Private partnership (PPP) vehicle for development. The Urban Renewal Act and Factory Incentives Act offer attractive tax-free Real Estate benefits to encourage development. Free Zone Park clients who export more than 85% of their services offshore will benefit from the following: ● No restriction on repatriation of foreign exchange ● Corporate tax exemption on profits in perpetuity ● Import duty exemption on capital equipment ● Reimbursement of VAT on local purchases Training: The National Training Agency The HEART Trust/National Training Agency gives tech- nical support and financing for employment training through an island-wide network of institutions, and via on-the-job training/ partnerships with community organizations. The agency partners with start-up in- vestors to promote worker training and certification. It has particular interest in high-skilled jobs where training leads to certification. The agency offers finan- cial assistance, usually in partnership with the firm, to fashion on-the-job and in-plant curricula for compa- nies creating new jobs. Project support are negotiated and driven on specific project analysis.The Agency also helps to recruit and screen applicants and assesses and certifies on-the-job learners. Limited financial support offered to firms that pursue accreditation as a training organization. Marketing The Government of Jamaica through its Investment Promo- tions Agency, Jamaica Trade and Invest/JAMPRO will help facilitate marketing of the ‘Naggo Head ICT Business Park’ in conjunction with the Real Estate developer. Project Costing Total investment for the completion of the buildings is esti- mated at approximately US$ 45 million. A measure of US$ 75 is estimated per square foot to build with another US$ 75 per square foot for fit out. Infrastructure works investment is projected at approximately US$ 60 million. NAGGO HEAD ICT PARK PORTMORE MUNICIPALITY INFORMATION COMMUNICATIONS TECHNOLOGY ICT)
  • 13. 12 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES The Tinson Pen Logistics Center proposes the development of an inter- national, multi modal logistics and distribution center on 40 hectares of land, which is currently occupied by the Tinson Pen Aerodrome. The de- velopment of the Centre will include display areas, administrative facilities, warehouses and the construction of a new aerodrome and as- sociated facilities. The services to be provided include inter alia cargo lo- gistics, warehousing and value added services. Located to the south-east of Kingston, the property is zoned for industrial purposes and adjoins the Port of Kingston and the Free Zone company operated by Kingston Logistics Centre (KLC). The facilities will consist of: • showrooms and display pavilions; • warehouses for value-added and fulfillment services; • information and trade research center; • offices (customs, administrative and support services). Key Highlights • The estimated value of Investment required is US$400 mn • A Feasibility Study is currently underway • The land is owned by the Government of Jamaica TINSON PEN LOGISTICS CENTRE DEVELOPMENT LOCATION: KINGSTON Navy Island is a small 25 hectare island on the northeast coast of Jamaica owned by the Port Authority of Jamaica (PAJ/The Authority). PAJ is de- sirous of developing the property into an upscale resort and ecological theme park. The property is in close proximity to Port Antonio’s upscale tourism destinations, as well as the Ken Jones Aerodrome and has two natural beaches. The Authority, is aggressively seeking a suitable inves- tor who is willing to purchase or partner with The Authority for the fu- ture development of the property. Key Highlights • There are two natural beaches on the western shore of the island: Crusoe Beach and the v e r y s e c l u d e d Trembly Knee Beach • Close proximity to the Errol Flynn Marina, a 32-slip mega -yacht marina, and the Ken Wright Cruise Terminal • Access to electricity and water from the mainland • Highway 2000 connectivity to other premier destinations on the North Coast NAVY ISLAND/TITCHFIELD LANDS LOCATION: PORTLAND LOGISTICS/TOURISM
  • 14. 13 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES AIR CARGO, LOGISTICS, AVIATION The re-development of the Vernamfield property into a major air cargo hub, aircraft maintenance and aviation training facility, as well as a local military base, began as a con- cept almost 20 years ago. Located in central Jamaica, Vernamfield comprises 1,773 hectares or 2,900 acres of land, which makes it larger than Manhattan, New York. Current capacity includes a 5,000-foot con- crete runway. The total development project is estimated at US$1 billion to design and construct two parallel 11,000 foot runways and taxi ways. These rehabilitated runways will have the capacity to handle the largest aircraft, including the Antonov AN-124, AN- 225 and the Airbus A-380. The development includes the construction of Category Five hurricane-proof aircraft hangers, which will include offices and warehousing. Once Vernamfield is developed, it will pro- vide a new airport for cargo carriers, manu- facturing and logistics, specifically: • Air Cargo (centralized sorting and clear- ance centres) • Express Courier Cargo Handling Facility • Fully equipped aerodrome with tele- communications centre and flexible runway capacities • Air/Sea Logistics (distribution centres, commercial space for trade shows, fire and rescue station) • Dry port concept (warehousing facility for off-site manufacturing and assembly plants) • Aircraft maintenance facility Historically, Vernamfield was the best loca- tion in the region for the USA’s Intermodal transportation system, and for the protec- tion of their merchant fleets. Its re-development has been the long-nur- tured brainchild of veteran parliamentarian and current Minister of Transport and Works, Mike Henry, who has set out to make the project a major catalyst for economic devel- opment in the parish of Clarendon and the broader central Jamaica region. Vernamfield Development Project Several Incentives will be offered to Investors which will result in greater levels of profitabiity and ease in doing business. These include: • Industry Incentives Act: If a business in Jamaica produces an“approved product”that has a supply market of less than 60% of the demand market, then it may gain “approved enterprise” status, which exempts it from the payment of income tax for a period of time. • Foreign Sales Corporation (FSC) Act: An FSC is a foreign corporation that is allowed to earn some tax exemption on its exports to the U.S. This act provides relief from the Common External Tariff and the General Consumption Tax on equipment, machinery, and materials coming into the coun- try. In addition, it provides for up to five years of income tax relief. • International Financial Companies Act: In an effort to promote offshore banking facilities, Jamaica has provided international financicompanies with income tax relief on both profits and capital gains. VERNAMFIELD DEVELOPMENT LOCATION: CLARENDON
  • 15. 14 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES Incentives cont’d • Shipping Act: Once a company is recognized as an “ap- proved shipping corporation,” it may receive tax relief and concessions on import duties for up to 10 years. • Moratorium on Duties: This is granted to companies that don’t qualify for existing incentives, yet have the potential to contribute significantly to foreign exchange earnings and employment. If the company can prove that it holds this potential, it may be granted relief from import duties for up to three years by the Minister of Finance. • NOTE- Most of these legislations will be reviewed or are in the process of review to expand the services being offered as well as to present Jamaica as more in tandem with the demands of globalization. It will demonstrate Jamaica as open and ready for robust trade. VERNAMFIELD DEVELOPMENT PROJECT AIR CARGO, LOGISTICS, AVIATION
  • 16. 15 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES BACK RIO GRANDE HYDRO SCHEME LOCATION: PORTLAND Investment Type: Equity Description: Construction of 4 hydro –electric schemes with total capacity of 10mw and annual generation potential of 32,210 MWH Stage of Investment Readiness: Proof of Concept Value of Investment: US$34 m Status: Feasibility study completed in December 2009 RENEWABLE ENERGY GREAT RIVER HYDROPOWER PLANT LOCATION: GREAT RIVER, ST. JAMES Investment Type: Equity Description: Construction of a hydropower plant with total capacity of 8 mw and annual generation of 38,000 MWH Stage of Investment Readiness: Concept developed Value of Investment: The value of Investment required is to be determined. Status: The value of Investment required is to be determined. LAUGHLANDS HYDROPOWER LOCATION: GREAT RIVER, ST. ANN Investment Type: Equity Description: Construction of a hydropower plant with total capacity of 2 mw. Stage of Investment Readiness: Proof of Concept Value of Investment: US$6.7 mn Status: Feasibility study completed in December 2009
  • 17. 16 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES Project Overview The global offshore financial sector is a $5 to $7 trillion dollar global industry that has been identified by Jamaica as a key area for investment stimulation. The establishment of an offshore International Financial Ser- vices Centre (IFSC), where relatively large numbers of financial institutions become engaged in business primarily with non-resi- dents, represents a clear opportunity for the Government of Jamaica to accrue substan- tial annual recurring revenues from statutory fees. There are approximately 80 jurisdic- tions that offer these services worldwide. Having commissioned a comprehensive KPMG study of the global IFSC market, Ja- maica has developed a clear strategy to en- ter the market with a unique business mod- el, predicated on its politically independent structure of Government and stable financial system. Investment Opportunity The establishment of an offshore financial services centre is a key investment initiative of the government of Jamaica. The objec- tive is to leverage Jamaica’s strengths by entering the market as a Mid-Value Com- petitor with a carefully planned strategy of developing into a Centre of Excellence. As a Mid-Value Competitor, we will develop a niche market and build our reputation in the market until we become a global provider of a highly specialized niche service. The focus is on the provision of value-added services, e.g. international holding compa- nies, trust services, ship and aircraft registry etc., which are enhanced by critical success factors such as: ● Jamaica being a signatory to thirteen double taxation treaties and to a Tax Information Exchange Agreement (TIEA) with the United States. ● Strong financial regulatory system and membership on regional and international regulatory bodies, including the Caribbean Financial Action Task Force (CFATF) ● A large cadre of highly trained English speaking professionals ● World-class telecommunications ● A mature tourism product with excellent air links ● The capacity to host large meetings in convention hotels, with more than 20,000 rooms The vision of the IFSC is that multi-laterals and other enterprises will find these attributes attractive, particularly given that Jamaica could position itself as a pool of relatively low cost professional resources for international finance companies seeking to reduce cost. INTERNATIONAL FINANCIAL SERVICES CENTRE FINANCE
  • 19. 18 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES AMATERRA Amaterra Jamaica Limited, a proposed five-star resort and mixed- use development with a championship golf course and other at- tractions, is located in the vicinity of Duncans in the parish of Tre- lawny. It is situated next door to the site of the exclusive Harmony Cove development, and will be constructed on 865 acres. The project is potentially one of Jamaica’s flagship mixed-use developments, with plans that call for the construction of villas, condominiums and hotels. Additionally, there is an ideal site for a conference centre and/or casino with a natural outdoor amphitheatre. Proposed Features • 2300 hotel rooms in exclusive five star hotels • 2000 villas and town-home lots • Luxury apartments • Championship Golf Course • 100-acre Commercial Centre Key Highlights • Proximity to Airport - Approximately 30 minutes from the Sangster International Airport. • 3.5 km of scenic ocean frontage ranging from white sand beaches to majestic limestone cliffs. • Approvals Granted - Subdivision and environmental approvals have already been secure. Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bed rooms. • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. TOURISM
  • 20. 19 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. NEGRIL PENINSULA The Negril Peninsula Resort is a unique concept that brings together the natural resources of Jamaica with first class resources in leisure, technology and both physical and spiritual well-being, to create a vacation lifestyle experience. This mixed-use development, to be constructed in four phases, is consented for 1,202 residential units, three hotels and a new marina to accept keeled yachts and medium-sized ocean-going vessels. Additionally, five new beaches will be created to complete this new coastal destination. The coastal shoreline of approximate- ly one kilometre, which is fronted by the Caribbean Sea to the south, will also accom- modate the creation of five new beaches. For sustainability, a substantial part of the lower ba- sin has been earmarked for commercial life and will see the establishment of office buildings, retail areas, restaurants, sports and leisure facilities. The development will also include a security centre and medical facilities, and will be completed in four phases over a period of five years. Key Highlights • Proximity to Airport (Approximately 90 minutes to the Sangster International Airport in Montego Bay). • Great sunsets • Seven miles of white sand beach nearby. • Idyllic getaway • Approvals Granted (Resort & Hotel Permits/ licences, Marina and Boat Yard Permit, Planning Approval etc.) Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. TOURISM
  • 21. 20 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES GREEN CASTLE ESTATE LOCATION: ST. MARY Located on a 1,591 acre of prime real estate property near Annotto Bay (north coast), 20 miles from Kingston, this project proposes the construction of high end sustainable, eco-friendly accommodations. Of the 1591 acres, the initial plan indi- cates construction on only 213-400 acres. The development will create a luxury, low impact mixed used residential resort that will be environmentally, economi- cally and socially sustainable. Main features • Beach hotel of 200 keys • Luxury hotel of 150 keys • Estate residences – 75 lots • Beach Casitas (15) • Hillside residences -40 lots • Equestrian center Key highlights • Highway 2000 connectivity • Close proximity to the Boscobel Aerodrome (St. Ann) • Beachfront property spanning 2 miles on the coast of the Caribbean Sea TOURISM
  • 22. 21 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES BARRETT HALL LIFESTYLE VILLAGE LOCATION: ST. JAMES Barrett Hall, a 429 acre site located approximately 15 miles from Montego Bay, Jamaica’s tourism capital, was identified as a well suited location for a retirement village. The site was chosen for sev- eral reasons, including: • Close proximity to the beach front (only 0.25 miles away) • Nearby health facilities in Montego Bay • Its gentle sloping view of the Caribbean sea • The fact that it is only 20 minutes’ drive from Sangster International Airport – one of the largest and most successful airports in the Caribbean, with connections to a host of destinations worldwide. • Its proximity (5 miles) to the “Elegant Corridor” which hosts premier resorts such as the Ritz Carlton, Half Moon Club and Sandals Royal Caribbean The advantages of investing in this project include: • Jamaica’s close proximity to Florida, the third most popular retirement destination in the United States • The development of a new private hospital, the Hospiten Group, which operates an international network of private hospitals located in major cities and tourist towns in countries such as Spain, the Dominican Republic and Mexico TOURISM • Proximity to the North Coast Highway • Located approximately 15 minutes from recently modernized Sangster’s International airport • Proximity to other proposed major developments in the area including an ultra luxury resort that will offer casino gaming and is approximately 15 minutes away from the location of the Lifestyle Village. The estimated value of Investment required for this project is US$63.5 mn
  • 23. 22 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES BARNETT TECH PARK LOCATION: ST. JAMES Investment Type: Equity Description: The Barnett Tech Park consists of 10 fully serviced lots within a 46 acre (18.6 Ha) gated complex in the Fairfield area. The Tech Park is located on the western side of Montego Bay, approximately 15 minutes from the Sangster International Airport, 5 – 10 minutes from major hotels, restaurants and other leisure activities. It is approximately 8 – 15 minutes from the various univer¬sities in St. James. Stage of Investment Readiness: Concept developed Value of Investment: US$1.8 bn Status: The principals obtained outline development approval from the local authority INFORMATION COMMUNICATIONS TECHNOLOGY ICT)
  • 24. 23 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. COTTON TREE BAY Cotton Tree Bay is a short drive away from the casual, laid- back resort town of Negril, which is famous for its seven- mile beach strip. The new super highway between Montego Bay and Negril gives easy access to the property, which consists of approximately 200 acres. It boasts two miles of waterfront starting at the eastern point of Green Island Bay in the parish of Hanover and continuing east along the northern coastline. Some grooming and development of these beaches may be necessary to bring out its optimum pristine beauty. This desirable location has many possibilities, and it ideally suit- ed for marina, resort and/or residential development, villas, hotels, spa facilities, exclusive residential homes and riding stables. Its extensive coastline could offer various water sports from sailing, snorkeling and scuba diving to spear-fishing. The turquoise water offers local flora, fauna and marine life. Key Highlights • Proximity to Airport - Cotton Tree Bay is a 50-minute drive from Montego Bay, but the Negril Aerodrome has daily flights arriving from the Sangster International Airport in Montego Bay, which is 20 minutes in the air in each direction. • Great Sunsets • Beach on property and nearby access to Negril’s famed seven-mile white sand beach. • Idyllic and secluded getaway Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. TOURISM
  • 25. 24 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES LAUGHLANDS This property is located in St. Ann, known as Jamaica’s garden parish. It is immediately off the north coast highway and is 124 acres with sea frontage. The property sits next door to the Chukka Cove polo grounds and boasts two main spectacular beach locations. It is also in close proximity to an air strip for light planes, which can be ac- cessed by reservation. Laughlands, due to its location and pristine white sand beach stretches, is well poised for high-end resort development. Key Highlights • Proximity to Airport - 1 ½ hrs from Sangster International Airport • Approvals Granted - There is an approved development plan, which includes the construc- tion of hotels, condominiums or any mixture of residential uses. • Extensive beach and cliff frontage Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concesions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. TOURISM
  • 26. 25 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES MAHOE BAY This 38-acre property situated in Mahoe Bay, St. James, is within a short distance from Sandals Cay, which is owned by the Sandals Group, and 15 to 20 minutes away from the Sangster International Airport by car. Proceeding east to west, the coastline of the first third of the site is very well protected by a wide coral reef that just breaks the surface of the sea at roughly 300 feet out. Look- ing west as the coral reef narrows and provides a natural opening to the sea, the coastline recedes to form a double, white sand crescent beach that offers a beautiful beach front. Three hotels have been identified for construction on the property, two of which have been granted preliminary ap- proval. Due to the proximity of the Sangster International Airport, the recommended height for development is five stories. Key Highlights • Proximity to Airport – Mahoe Bay is 15 to 20 minutes from the Sangster International Airport. • Beautiful white sand beach front • Approvals already granted for time share and hotel construction. Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. TOURISM
  • 27. 26 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES MOSQUITO COVE Mosquito Cove, a unique property equi-distant between Hopewell and Lucea in Hanover, is an ideal property for a marina and hotel development. The cove is protected by a reef, but allows easy access to yachts entering the calm, protected bay. The 71-acre property is located on the eastern side of the bay and is north of the highway from Montego Bay, Jamai- ca’s second city. South of the highway, approximately 200 acres of land rises gently and can be developed into a golf course. The west- ern side of the land is 14 acres and has a small white sand beach. The owners will sell parts of the property that bear a number of different land titles. Key Highlights • Proximity to Airport – Mosquito Cove is 40 minutes from the Sangster International Airport. • Beach on property. • Excellent prospects for marina and hotel development. Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings TOURISM
  • 28. 27 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES SAN SAN The San San Estate is one of the few remaining pristine properties in Jamaica where there is an opportunity for high- end resort development. The property is located in Portland on the eastern end of the island and sits on a total of 600 luxurious acres. On the property, the scenic San San Bay consists of 10 acres with unsold villa lots and an 18-hole golf course. There is a significant portion of the land that is not yet developed, which offers exciting potential for villas, a hotel and the maximisation of the golf course. Key Highlights • Proximity to Airport - Approximately 2 ½ hrs by road or 20 minutes by air to the Norman Manley International Airport (NMIA) Incentives Available The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. The Resort Cottages (Incentives Act) provides resort cot- tages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. TOURISM
  • 29. 28 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES WHITE BAY White Bay, ideally located close to Falmouth, Trelawny on the north coast of the island, is a superb beach front prop- erty with access to the new North Coast highway. Permission for resort development of 30 villas and 40 cot- tages, or a small hotel with the equivalent rooms has been granted and could be increased subject to the requisite ap- provals being granted. Due to the fact that there are no riv- ers nearby, the water is crystal clear. The topography of the land allows for villas to be built behind the beach and, as the land rises, all villas can have a sea view. The main white sand beach in the western section is ap- proximately 1,200 feet. The eastern section is roughly 2,000 feet half of which is rocky cliffs. Construction can begin at White Bay immediately. Key Highlights • Proximity to Airport – White Bay is 30 minutes from the Sangster International Airport. • Beach on property. • Approvals granted for resort and small hotel development. Incentives Available • The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms. • The Resort Cottages (Incentives Act) provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. TOURISM
  • 31. 30 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES NORMAN MANLEY INTERNATIONAL AIRPORT & SELECT GOJ AERODROMES LOCATION: KINGSTON Investment Type: Public Private Partnership Description: NMIA is a one of two international air ports in Jamaica. The existing concession at NMIA is for a period of 30 years commenc- ing October 2003. The divestment of NMIA is being packaged to include the expansion and development of other government owned aerodromes including Negril, Boscobel, Ken Jones, Vernamfield and Duckenfield Stage of Investment Readiness: Concept developed/ Pre-divestment and Data Collection Value of Investment: The value of Investment required is to be determined. Status: Technical, Market and Environmental Studies to be done. TRANSPORTATION
  • 32. 31 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES MAVIS BANK COFFEE FACTORY LTD. (MBCFL) LOCATION: MAVIS BANK, ST. ANDREW The Mavis Bank Coffee Factory, MBCF, is Jamaica’s largest and only fully integrated Jamaica Blue Mountain® Coffee facility. The factory produces a diverse line of authentic 100% Ja- maica Blue Mountain coffee sold under the Jablum brand and includes Blue Mountain Cof- fee (roasted beans), Instant Coffee and Liquid Coffee Beverages. Approximately 1.4 million pounds of green beans from over 6000 farmers are processed at the factory annually. The Mavis Bank Coffee Factory Limited has had sales revenue over the last few years ranging between US$8 million and US$11.6 million per annum. AGRICULTURE/AGRO-PROCESSING WALLENFORD COFFEE COMPANY LTD (WCCL) LOCATIONS: KINGSTON, CLARENDON, ST. CATHERINE, ST. ANDREW, PORTLAND, ST. ELIZABETH AND ST. CATHERINE The Wallenford Coffee Company is one of the largest licensed processors and exporters of Jamaica Blue Mountain Coffee. The company is vertically integrated and is involved in the purchasing, growing and processing components of the business process. Its Coffee Farms are located in Kingston, Clarendon, St. Catherine, St. Andrew, Portland, St. Elizabeth and St. Catherine. The Government of Jamaica is seeking investors who will undertake the financing, development, operation and management of the WCCL. The Company has assets valued at over US$20 million and has revenues of over US$7 mil- lion per annum in recent years.
  • 33. 32 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES THE OCEANA BUILDING LOCATION: DOWNTOWN, KINGSTON Investment Type: Equity Description: The Oceana Building, formerly a 200 room Oceana Hotel, comprises of 12 floors located on the scenic Kingston waterfront. The building covers 222,129.44 sq. ft. Stage of Investment Readiness: The project is ready for investment Value of Investment: Valuation available Status: Expressions of interest requirements include: business plan, physical plan, financials, and other REAL ESTATE THE OFFICE CENTRE BUILDING LOCATION: DOWNTOWN, KINGSTON Investment Type: Equity Description: The Office Centre Building comprises of 12 floors with office spaces located on the scenic Kingston waterfront. The building covers 222,880 sq. ft. Stage of Investment Readiness: The project is ready for investment Value of Investment: Valuation available Status: Expressions of interest requirements include: business plan, physical plan, financials, and other.
  • 34. 33 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES FONT HILL LOCATION: ST. ELIZABETH The Font Hill property which comprises 1,054.5 hectares is located on the south coast of Jamaica, approximately 8 km west of Black River, in the parish of St. Elizabeth. The property is owned and operated by the Petroleum Corporation of Jamaica (PCJ) a statutory corporation and an agency of the Ministry of Energy and Mining and is being zoned to facilitate development in the areas of Agriculture, Tourism, Port & Logistics Facilities. The Font Hill property has a unique and diverse ecosystem in the wetland area. It is home to several protected, endemic and rare species of wild life. It boasts a wide variety of endemic bird species, turtles, crocodiles, indigenous plants and an extensive mangrove wetland. The land is constantly being developed by the PCJ. Studies have been conducted for agriculture fuel wood pilot project, plans drawn up for forest reserves, wildlife sanctuary and resort/resi- dential and public beach park. Land Features • Pockets of white sand beach • Approximately 7.5 km of beach frontage • Limestone hill TOURISM
  • 35. 34 CREATIVE INDUSTRIES JAMAICA INVESTMENT OPPORTUNITIES For further information on these investment projects, contact: Claude Duncan V.P. Investment Promotion JAMAICA PROMOTIONS CORPORATION 18 Trafalgar Road Kingston 10, Jamaica T: 1 876 978-3337 ext. 2201 F: 1 876 978-0140 E: cduncan@jamprocorp.com
  • 38. HEAD OFFICE 18 Trafalgar Road Kingston 10, Jamaica W.I. Phone: +1 876 978 7755; 978-3337 Toll Free: +1 877 INVESTJA (468 4352) Fax: +1 876 946 0090 email: info@jamprocorp.com NORTH AMERICAN REGIONAL OFFICE 303 Eglinton Avenue East, 2nd Floor Toronto, Ontario, M4P 1L3, Canada Tel: 416-932-2200 (main) 416-598-3008 Fax: 416-932-2207 Toll-Free: 1-877-744-2208 E-mail: rkerr@jamprocorp.com LONDON OFFICE JAMPRO / Jamaica Trade Commission 1 Prince Consort Road, London SW7 2BZ, England Phone: + 44 20 7 584 8894 Fax: + 44 20 7 823 9886 email: jamprouk@jamprocorp.com