KINGSTON, Jamaica — Consistent with its mandate, the Factories Corporation of Jamaica Limited (FCJ) will continue activities during financial year 2024/25, geared towards stimulating sustainable economic growth, development, and job creation.

These are detailed in the Jamaica Public Bodies Estimates of Revenue and Expenditure for the year ending March 2025.

This year, the FCJ will prioritise upgrading of current facilities, improving infrastructure, and adding new spaces to increase revenue generation.

Consequent on this, the corporation plans to undertake capital investments totalling $1.13 billion.

These include continuing work on the 360,000-square-foot Garmex Expansion and Redevelopment Project with the construction of three warehouse buildings, which will add 96,000 square feet of space to facilitate commercial and retail activities.

Work will also be undertaken in respect of roads, sewerage networks, storm drains and other supporting infrastructure.

The FCJ will additionally advance plans for the Boundbrook Redevelopment Project, which will result in the construction of 140,000 square feet of commercial space on six acres of land in Port Antonio, Portland.

The corporation also plans to allocate $1.13 billion for capital investments aimed at upgrading and improving other FCJ commercial facilities to support the continued development of micro, small and medium-sized enterprises (MSMEs).

Additionally, the 448,000-square-foot property at the Morant Bay Urban Development Centre in St Thomas, which is being implemented via a joint-venture agreement, is expected to be completed this year.

The centre is poised to offer office and commercial spaces, thereby fostering economic development and employment opportunities in the parish.

The FCJ projects a surplus of $492.29 million from the programmed engagements, and an increased staff complement of 135.

— JIS