By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

A CABINET minister has unveiled the ‘Coming Home’ initiative designed to attract Grand Bahamians to return home and exploit the island’s touted $2bn investment project pipeline.

Ginger Moxey, minister for Grand Bahama, told the House of Assembly during the mid-year Budget debate that Grand Bahama needs a critical population mass to return for its potential economic revival to succeed.

She added that Grand Bahama can easily accommodate more than 250,000 persons but currently hosts just 47,000. “We need all of you to help us to boom again. It’s time to come home because critical mass is what we need to thrive. We have the capacity to easily accommodate a population of over 250,000 yet we are barely scratching the surface,” Mrs Moxey said.

“Grand Bahama’s once 60,000 population has dwindled to 47,000 on an island that has some of the best infrastructure, modern amenities, and a ‘best of both worlds’ environment of native communities in the east and west and the city centre. Real estate is affordable. Where some see a dilapidated building others see an opportunity for redevelopment. So it’s all about perspective. It’s time to come home and grow together.”

Mrs Moxey highlighted tourism investments such as the $250m Six Senses project, Carnival’s $600m Celebration Key, and Royal Caribbean International and ITM Group’s $70m redevelopment of Freeport Harbour’s cruise port.

She said: “It’s time to come home because Carnival’s $600m Celebration Key will bring over four million cruise passengers every year to Grand Bahama, creating entrepreneurial opportunities to empower you and other Bahamians like you.

“It’s time to come home because Royal Caribbean, MSC (Mediterranean Shipping Company) and ITM are creating a new cruise port destination at Freeport Harbour with additional beach experiences creating entrepreneurial spin off opportunities for you. It’s time to come home because the airport redevelopment will create the meaningful opportunities for our people and give us our pre- clearance back.”

Mrs Moxey said Grand Bahama is projected to attract more than six million visitors annually by 2027 while, after 20 years, downtown Freeport is “alive again with over $13.5m in investments”.

She added: “After 20 years of decline, downtown is back and bustling with activity and much more to come. And, by 2027, it is projected that over six million visitors will be visiting Grand Bahama.

“Imagine the impact on our economy. And what I like to remind our people is, if at least 10 percent of cruise passengers leave the walls of the cruise port and traverse our communities, do you know what that can mean for you?”

Mrs Moxey said new healthcare facilities such as the $200m Freeport Health Campus, which is under construction; the $200m second phase of the Western Atlantic Medical School; and the $30m Doctors Hospital facility will provide medical care for residents.

“It’s also time to come home where healthcare will have the much-needed infrastructure with the Freeport Health Campus and Doctor’s Hospital flagship facility,” she added.

The minister for Grand Bahama said the ‘Coming Home’ initiative will be led by her ministry’s Collab unit and provide opportunities and plans for Grand Bahama.

She said: “Here you can find out what’s going on - the plans for the island opportunities for collaboration and for public-private partnerships. The same opportunity exists for those who have stayed there with us. If you have an idea, let’s see how we can assist you in making it happen.

Mrs Moxey said her ministry is collaborating with the Grand Bahama Port Authority and the Grand Bahama Chamber of Commerce to improve the ease of doing business on the island.

She added: “My ministry is always in active discussions with both the Grand Bahama Port Authority, as well as the Grand Bahama Chamber of Commerce, with respect to ease of doing business so that both local and international investors are always given the attention they deserve in Grand Bahama and we are not just playing lip service.”