British Virgin Islands

Wednesday, Nov 25, 2020

Gov’t, Opposition legislators donate over $12K to D5 Economic Zone

Gov’t, Opposition legislators donate over $12K to D5 Economic Zone

Three district representatives have made personal contributions totalling more than $12,000 towards the Fifth Electoral District’s Economic Zone that government will build in the Huntums Ghut community of Tortola.
The pledges were made on Monday, October 19 at the groundbreaking ceremony for the project.

Territorial At-Large Representative Neville ‘Sheep’ Smith pledged to pay for a business workshop to educate the first entrepreneurs who will be part of the economic zone when it opens.

Smith also promised to pay the first month’s rent of each occupant who will be renting a space at the economic zone. After hearing that Fifth District Representative, Kye Rhymer has plans to open a pantry and build a library in the vicinity of the economic zone, Smith also promised to donate books for the library and $1,000 towards the building of the pantry.

Fourth District Representative Mark Vanterpool pledged $5,000 towards the economic zone. He made his contribution on behalf of his business OneMart Superstore.

Additionally, Territorial At-Large Representative Carvin Malone also pledged $7,500 towards the economic zone which will operate as a nursery for small business owners.

In his remarks, Rymer said about 18 businesses will be housed within the economic zone. He said interested persons will have to submit a business plan which will be used for the selection process.

Once the facility is built, each entrepreneur will pay a small monthly fee for upkeep.

Rymer also said as businesses grow, they will be expected to move out of the economic zone and make way for other aspiring entrepreneurs.

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