Encouraging signs of big thinking
Regular readers of this column are well acquainted with our crusade for big thinking, particularly in relation to investment projects and government policies. This mindset, we believe, is necessary as the country continues its quest for greater development and improvement of the lives of our citizens.
We recall well the Government’s demonstration of this type of thinking when, in November 2022, it signalled its intention to table legislation paving the way for Jamaica to attract increasingly wealthy, job-generating billionaire investors.
Essentially, the Administration said its aim was to repeal and update the Income Tax Relief (Large-Scale Projects and Pioneer Industries) Act to “ensure that it is fit for purpose”.
“We have been working on it, given the vast economic benefits that the Act is intended to achieve for Jamaica. It is imperative that the Act finally be operational, so that the country can reap the rewards from the framework that it established to support large investments and economic development,” Finance Minister Fayval Williams said in the 2025/26 Budget Debate.
She pointed out that the Harmony Cove Limited Development Project — a large-scale luxury resort project in Trelawny — has been awaiting the Act’s passage.
That development will result in a US$1-billion investment in Jamaica, Minister Williams said.
Other projects that have come on stream in recent years fit well within the frame of the type of investments we have been advocating.
A few weeks ago we saw the official ground breaking of Kingston Gateway, a warehousing project conceptualised by SAJE Logistics Infrastructure Limited more than five years ago and which attracted joint venture partnership from Proven Properties Limited.
Kingston Gateway, located at Marcus Garvey Drive in St Andrew, will feature 21 commercial units within a 112,000-square-foot complex in close proximity to the Port of Kingston, and convenient links to Norman Manley International Airport.
Following that, last Wednesday Prime Minister Dr Andrew Holness broke ground for the construction of Raintree Commercial Complex at Ferry Pen in St Catherine, saying it marked the realisation of the Government’s long-held vision of transforming underutilised land into a centre of economic activity, employment, innovation, and inclusive growth.
The complex, being built on 108 acres of land, is a collaborative effort with the Urban Development Corporation taking the lead and is the first phase of a plan to develop more than 3,400 acres of land in Caymanas Estates.
The Raintree complex is projected to attract capital investment of at least $3.8 billion in infrastructure and will support long-term private investments exceeding $15 billion.
Additionally, more than 7,000 jobs could potentially be created from the development of the complex — 2,000 during the construction phase and more than 5,000 after completion.
Many of the jobs, he said, will be in high-growth sectors such as business process outsourcing, logistics, manufacturing, warehousing, and other commercial activities.
As we pointed out before, the global warehousing and storage services market is experiencing significant growth, valued at US$536.26 billion in 2024 and expected to grow to US$919.17 billion by 2033.
We are encouraged that Jamaica is positioning itself to capture its fair share of that growth. The Government clearly believes that it should “Go hard or go home!”