American firm to bring up to 3,000 ICT jobs

BY JULIAN RICHARDSON Assistant business Co-ordinator richardsonj@jamaicaobserver.com

Wednesday, November 23, 2011

A major foreign firm will invest hundreds of millions of dollars in Jamaica's information and communications technology (ICT) space, creating 2,000 to 3,000 jobs over the next two years.

Minister of Industry, Investment and Commerce Dr Christopher Tufton revealed the news yesterday during his keynote address at the Private Sector Organisation of Jamaica Chairman's Club Forum at the Jamaica Pegasus Hotel in Kingston.

"We will make an announcement in another week," said Tufton, stating that the investing company signed off on an agreement to set up shop in Jamaica within the last two weeks.

A Business Observer source said that the company, which has not been named, is based in the US.

Government has set a target to facilitate the build-out of 500,000 square feet of space for the business processing industry over the next three to five years as part of its plan to more than double ICT jobs in Jamaica over that period.

"We have to build out infrastructure in order to house the investors and support funding," said Tufton.

"I have tremendous confidence that in the years to come a major source of jobs will flow from this industry," he added.

The minister noted that Jamaica has a grand opportunity to tap into the North American market for ICT services, in which India is a major player.

"There are five million seats currently located in India serving the North American market and increasingly investors are motivated by near-shore investment locations," said Tufton.

"Jamaica offers significant advantages in that respect. We have already gone through the learning curve, we have the labour force, we have an English language accent that is quite pleasing to the ear and we have a work-play location," he said.

Tufton said earlier this year that the prospects in ICT now represent for Jamaica what tourism did a few years ago in terms of the potential for growth, job-creation, economic activity and competitive advantages.

Aside from the half-million square feet of space that is proposed, the Development Bank of Jamaica (DBJ) through PetroCaribe will be providing support through a US$20-million financing facility being made available for ICT build-out.

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American firm to bring up to 3,000 ICT jobs