FCJ Directed to Develop Turnkey Community Micro-Business Parks

  • The Factories Corporation of Jamaica (FCJ) has been directed to develop turnkey community micro-business parks islandwide as a means of creating more cost-effective operation spaces for micro, small and medium-sized enterprises (MSMEs). Prime Minister, the Most Hon. Andrew Holness, made the disclosure during the launch of Adam and Eve Day Spa’s new location on Old Hope Road in Kingston on Wednesday (May 15).
  • Mr. Holness said access to proper infrastructure, specifically purpose-built facilities, is a general challenge that businesses experience. He pointed out that the Government has directed the FCJ, that right across Jamaica, where they have property or where they do not, they should acquire to start building out “what we are calling the turnkey community micro-business parks”.
  • “We’re doing the first one in Morant Bay; we have made a massive investment in the parish of St. Thomas in building out the Morant Bay Urban Centre. The Morant Bay Urban Centre is on 25 acres of land. I toured there a few weeks ago; fantastic what is being done there in terms of buildings and facilities and infrastructure,” he stated.
  • “But we recognise that whilst we will have larger businesses moving in and occupying this space, we must support the MSMEs in and around the area to create this ecosystem of real estate and facilities. So, the first park will be built on an additional 10 acres that we have acquired. So, it is not only the urban centre in terms of the buildings that have been laid out for banks and for universities and for big shopping centres and so forth. But we will build out a business park for micro and small businesses,” the Prime Minister added.
  • Mr. Holness emphasised that MSMEs are a critical part of the economy, noting that there are about 425,000 of these entities across Jamaica. He also noted that, collectively, there are about 412,000 own-account workers (self-employed persons) in Jamaica.
  • Mr. Holness further informed that the FCJ has undertaken massive expansion of the GARMEX facility in two phases, with some $3.5 billion spent over the last three years. “It is a wonderful facility, and many businesses are finding accommodation there,” he said.

 (Source: JIS)