The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

Deputy Prime Minister Chester Cooper has forecasted that Grand Bahama is experiencing one of the lowest unemployment rates in the country, as local businesses struggle to find workers.

While in Freeport on Friday, Mr Cooper reported that hundreds of Bahamians are now employed at Carnival’s Celebration Key, which is expected to open sometime this month.

“Yesterday, we visited Carnival. We see 500 young Bahamians walking in spirited, taking their space there. So we are creating jobs,” he said.

According to Mr Cooper, over the past two days, he has met with both small and large business owners who are struggling to hire employees because of the large number of working individuals in Grand Bahama.

“It is so many in GB now working, I forecast that GB has one of the lowest unemployment rates in the country,” he said.

“This hasn’t truly come to fruition yet, but in a few weeks, when we see the opening of Carnival. One large business said yesterday that they can’t find employees. The point I am making is that with all these people working, there is going to be significant money in the economy flowing.”

Mr Cooper added that the economic activity taking place is already benefiting local businesses.

“So, people are already feeling it in their businesses, an increased level of enthusiasm, and uptake for goods and services. I went to a restaurant in Grand Bahama, and a few months ago I visited the same restaurant, and this week I could barely get a seat. Construction workers, tourists, locals—all help to drive the economy.”

While acknowledging the importance of foreign direct investment, Mr Cooper stated that the critical role of local small businesses accounts for about 70 percent of employment on Grand Bahama.

He attributed Grand Bahama’s economic resilience to “mom and pop shops” and service providers.

“GB has been resilient, not because of foreign direct investors, but because of mom and pop shops, and small businesses throughout all communities; people doing import-export services, and courier services, and providing services for Bahamians. There are now more Bahamians who are working, and therefore more services and goods are needed, and more tourists are coming on the island.”

Mr Cooper said Carnival Celebration Key is projected to bring one million visitors this year, two million the second year, and up to four million within three years.

“This is why the Business Innovation Center is so important. We need tours, restaurants, shops providing services for crew and guests, and we need GB to do it.”

Mr Cooper was in Grand Bahama to tour the progress of demolition at Royal Palm Resort, where the Business Innovation Center is being developed.

When asked for an update on the Grand Bahama International Airport, Mr Cooper said progress is being made but declined to provide any specifics.

“Updates on the airport—we are making progress. We always talk about the airport and Grand Lucayan Resort. We want the Bahamian people to know that beyond the big projects, we are looking out for small business development,” he stated.

He reiterated that Grand Bahama is expecting approximately $3 billion in new investments, contributing to a national total of around $12 billion.