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Long Island looking for further investment – video

The Family Island's economy has been bolstered by the second-home market, but still needs investment in infrastructure, according to Chamber of Commerce president. Tourism and real estate offer keys to further growth of the island. 

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Updated:
TheBahamasInvestor.com
Monday, August 22, 2011
Monday, August 22, 2011

Long Island needs further investment to fulfill its economic potential, according to the head of the island’s Chamber of Commerce.

Mario Cartwright, who was appointed president of the chamber in spring 2010, is calling for greater investment in the island to help grow the local economy and, in particular, the tourism industry.


“Something must be done to stimulate commerce on this island, investment is long overdue,” he says. “This is a wonderful island and we have such potential–both the people and the island.”

Long Island is particularly popular with those investing in property, according to Cartwright. The chamber president estimates that there are around 500 second homes on the island and believes that, despite the recent recession, this market is growing. “There are quite a number of second-home owners here and that is good for our economy. Folks come down for a large part of the year and spend money locally.”

However, Cartwright, who also owns the Flying Fish Marina in Clarence Town, says that to attract further investment, there needs to be an environment conducive to doing business, with improved infrastructure and lowered costs.

“Electricity is very expensive; the road system needs resurfacing,” he says. “We are a very industrious people, but this island needs the government to do its part. Give us some infrastructure and we will do the rest.”

Cartwright is also calling for the airport at Deadman’s Cay to be upgraded to an international facility and a port of entry, saying this will increase the tourist trade, as well as make the island more accessible to potential investors.

“We are a tourism-based economy and most of our visitors come from the US, so we need to make it more convenient for them to come here.”

For more information about Long Island, watch the video below.

cboal@dupuch.com

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