JAMPRO - Jamaica Investment Opportunities - Sept2010

www.tradeandinvestjamaica.org

Investment Opportunities

JAMAICA

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CREATIVE INDUSTRIESJAMAICAINVESTMENT OPPORTUNITIES

Ideal Location and accessibility

Gateway to multiple destination

EST Time Zone - convenient for doiong business with the USA, Latin American and Caribbean

One hour from Miami

Three Hours from New York

Time zone 0-3 hours from North America & 5-6 hours from Europe

Main shipping lanes for Panama Canal

Stable Government & Economy

Independent Judiciary

Diversified and well developed capital market

No foreign exchange controls

Increased privatisation of public sec-tor companies

Liberal export incentives

Liberal Import Policies

Educated English-speaking workforce

Skilled, semi-skilled labour Intensive Infrastructure Efficient Telecomunications

Tropical climate

WHY JAMAICA?

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Why Jamaica 1

About Jamaica 3

JAMPRO & Partners 6

GOVERNMENT OF JAMAICA PROJECTS:

Caymanas Economic Zone 8

Naggo Head ICT Park 10

Tinson Pen Logistics Centre Development Centre 12

Navy Island/Titchfield Lands 12

Vernamfield Development Project 13

Back Rio Grande Hydro Scheme 15

Great River Hydropower Plant 15

Laughlands Hydropwer 15

International Financial Services 16

PRIVATE PROJECTS

Amaterra Jamaica Ltd. 18

Negril Peninsula 19

Green Castle Estate 20

Barrett Hall Lifestyle Village 21

Barnett Tech Park 22

Cotton Tree Bay 23

Laughlands Tourist Development 24

Mahoe Bay 25

Mosquito Cove 26

San San 27

White Bay 28

DIVESTMENT PROJECTS:

Norman Manley International Airport (NMIA) 30

Wallenford Coffee Company Lid. (WCCL) 31

Mavis Bank Coffee Factory Limited (MBCFL) 31

The Oceana Building 32

The Office Centre Building 32

Font Hill 33

CONTENTS

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Jamaica operates a mixed market economy. The main sectors include agriculture, mining, manufactur-ing, tourism, financial and insur-ance services, transport, and com-munications. The services sectors account for two-thirds of gross do-mestic product. As an open econo-my, Jamaica is well integrated into the global economy with external trade contributing prominently to overall economic activity.

ABOUT JAMAICA

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ABOUT JAMAICA

JAMAICA’S INFRASTRUCTURE FOR FOREIGN DIRECT INVESTMENTS

Jamaica is advanced in modernising its port, air-ports, roads, telecommunications, water supply and sewerage infrastructure. Investment in in-frastructure is an important priority in national development, having regard to its impact on the competitiveness in the economy. The island has been a high performer in attracting foreign direct investment over recent years particularly in the area of tourism, and this performance has been attributed to improvements in its infrastructure.

Jamaica has nine active ports. The Port of Kings-ton is the largest, which at 21 square kilometres of navigable water, is the seventh largest natural harbour in the world. Located along the north/south, east/west axis of the Caribbean, the port is just 32 miles from the trade routes that pass through the Panama Canal.

The Port of Kingston handles approximately 80% of all imports. It includes a modern container ter-minal, a large break-bulk wharf with roll-on/roll-o facilities, an oil renery and dry bulk terminal. The fully computerised terminal has 11 berths, backed by 40 hectares of container yard space. State of the art stevedoring equipment includes seven rail-mounted 40-ton gantry cranes, 30 straddle carriers, yard chassis and hustlers,reefer outlets and a freight station.

With stellar infrastructure, competitive rates and a central location, the trans-shipment opportuni-ties in Jamaica are limitless. Our easy accessibility to the main shipping lanes that run through thePanama Canal makes the Port of Kingston even more attractive to international shipping compa-nies. Over 30 shipping lines have operations in Jamaica, covering all the major routes to the North and South American continents, Europe and the Far East.

Ò The natural harbour in Kingston is the 7th largest in the worldÓ

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ABOUT JAMAICAAIR TRAVEL

Jamaica has two international airports, Norman Manley Interna-tional Airport located in Kingston and the Sangster International Airport in Montego Bay. Additionally, Jamaica facilitates domestic air travel through four aerodromes namely, Tinson Pen (Kingston), Ken Jones (Portland), Boscobel (St. Mary), and Negril (Westmore-land).

The Norman Manley International Airport sits south of the Kings-ton Harbour on 228 hectares (563 acres) of land. It has a runway of 816 square metres (8,785 square feet) and is capable of accom-modating aircrafts up to the size of the Boeing 747.

The Sangster International Airport runs along the northern strip of the country, 3.2 km from downtown Montego Bay. It’s on ap-proximately 235 hectares (580 acres) of land, with a runway of 809 square metres (8,700 square feet) and an associated parallel taxi-way running the full length of the runway. The redevelopment of the Sangster International Airport included the construction of a new concourse and the upgrading of the existing one, which has expanded the capacity of the airport to handle 9.5 million passen-gers per annum – 3 times its previous size. It was completed in August 2008. The airport handles the bulk of the traffic generated by the tourism industry and now possesses the most modern pas-senger facilities for shopping, immigration, customs and transport services in the Caribbean region.

HIGHWAY 2000

HIGHWAY 2000 is the centre piece of a multi-year Millennium Projects Programme initiated by the Government of Jamaica . The main objective of these projects is to upgrade the country’s infrastructure and assist in providing economic opportunities for growth and the creation of jobs.

The highway is a four to six lane controlled-access, tolled motor-way with fully grade separated interchanges and intersections built according to modern international standards.

Sangster InternationalAirport, Montego Bay

Highway 2000

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JAMAICA PROMOTIONS CORPORATION, JAMPRO

JAMPRO is the Government of Jamaica’s investment and export promotion agency, which connects investors and entrepreneurs from around the globe to the trade and investment opportunities available in the leading sectors of the Jamaican economy.

Operating under the direction of the Ministry of Industry, Investment and Com-merce, JAMPRO guides investors from the decision making stage, through the approvals process, to when their investments become operational. The agency focuses on the targeted sectors of tourism, manufacturing, agri-business, information and communication technology, mining, energy, and the creative industries (film, music and entertainment).www.tradeandinvestjamaica.org

DEVELOPMENT BANK OF JAMAICA

The Development Bank of Jamaica facilitates the growth and development of all viable enterprises in the productive sectors of the Jamaican economy. The DBJ provides direct lending for large projects in strategic areas, medium and long-term financing solutions to all entities, as well as supports the manage-ment and privatization of national assets and investments.www.dbankjm.com

PORT AUTHORITY OF JAMAICA

The Port Authority is the statutory corporation responsible for the regulation and development of Jamaica’s port and shipping industry. The corporation is responsible for the safety of all vessels navigating the ports of entry and the regulation of the tariffs charged on goods passing through the public wharves. In addition, the Port Authority regulates the establishment and operation of all port facilities, develops and manages safe, secure and efficient world-class port infrastructure in Jamaica and the related commercial operations that deliver sustainable growth while satisfying the needs of all stakeholders.www.portjam.com

URBAN DEVELOPMENT CORPORATION

The Urban Development Corporation has a mandate to stimulate urban devel-opment through the planning and implementation of comprehensive develop-ment projects and programmes.www.udcja.com

PETROLEUM CORPORATION OF JAMAICA

The Petroleum Corporation of Jamaica has been mandated to develop indig-enous renewable energy resources, to prevent adverse effects on the environ-ment and to realize the goals of Jamaica’s Energy Sector Policy.www.pcj.com

The Development Bank of Jamaica facilitates the growth and development of

The investment projects in this portfolio are managed/facilitated by the following government agencies:

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JAMAICAINVESTMENT OPPORTUNITIES

GOVERNMENT OF JAMAICA PROJECTS

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CREATIVE INDUSTRIESJAMAICAINVESTMENT OPPORTUNITIES MANUFACTURING/ICT

Caymanas is ideally located for a technology park development, situated at the confluence of the major population centres of Kingston, Spanish Town and Portmore. All three loca-tions are 25-40 minutes from the Norman Manley International Airport with excellent public transportation and networked with the island’s Highway 2000.

Modern shipping and trans-shipment services are less than 10 minutes away at the Port of Kingston, all underpinned by a sophisticated world-class telecommunica-tions backbone.

• Kingston,nationalcapitalwithanes timated population of 580,000, offers the region’s premier transportation centre as well as 146 schools, 6 management institutes and 4 universities.

• Portmoreisthelargestmiddle– income dormitory community in the English-speaking Caribbean with over 265,000 residents many of whom have post-secondary educa- tion.

• SpanishTown,Jamaica’sformercapi tal has over 150,000 reside.

The Caymanas Economic Free Zone (CEFZ) consists of 1500 acres of prime real estate, of which 40 acres have been earmarked for the development of phase 1 of the ICT Park which will house: Software Development, Telecommunications/Co-Location sites, Bio-

Technology, Business Process Outsourcing (BPOs) and IT/Security Consultancy (NOC).

Project ConceptAn integrated ecosystem built on a modular plan from seeding or staging site.

• Intelligentself-containedCitybasedon work-play-live and Knowledge Innovation Zone/Knowledge City concept

• Stagingsite,trainingcentre, light data centre facilities, meeting rooms and business centre

• ImmigrationServices,Customsoffices, Free Zone certification, one-stop window

• Campusofficesrepresentingallmajor universities and recruitment/job fair centre

• Supportservicesincluderestaurants, banks, ATMs, daycare, doctors offices, emergency medical services, dedicated transportation hubs

• Adjacent retail and recreational facilities and middle income residential develop ments for Knowledge Workers.

The Staging SiteReady to occupy plug-and-play space in 50,000 sq feet (10 Units) holding up to 700 seats. Starter facility which permits new market entrants to pilot their business model in a cost effective manner on the condition that they build-out their own modular units in the ICT Zone and relocate in 1 year. Staging sites are also aimed at providing facilities to local entrepreneurs who can leverage world-class facilities within their constraining cost structures to provide sourcing services to global clientele.

The Complete Project• 40acresoflandwith1,200,000squarefeetof production space hosting 12,000 seats and up to 21,000 jobs.

• TargetrentalratesofUS$10persquarefoot per annum

• On-sitepowergenerationwithexcesscapacity sold back to the national grid

• Telecommunicationsproviderswillsupplylast mile connectivity

Infrastructure• ModularFloorLayoutforOfficeSpace

• ScalableofficeInfrastructure(28-38,000Sq.Ft. Single Floor Plate).

• EarthquakeandHurricaneresistantinfrastruc ture

• Centralizedair-conditioning&AHUslocatedon each floor

• OFCandStructuredCablingNetwork.

• Privatededicatedpowersupply[IPP]

• 100%PowerBackupSupport(supportedbyon-site power generation by utility partner) 24 hour uninterrupted water supply

• LargeCapacity,HighSpeedPassengerandService Lifts

CAYMANAS ECONOMIC ZONE

CAYMANAS ICT PARK

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Amenities• Security-AccessControlandElectronicSurveillance.

• Transportationservices • Multi-CuisineFoodCourts,BanksandATM’s,RetailOutlets,BusinesCenter,etc.

• AmpleParkingSpace.

• Beautifullylandscapedareacomprisingofmanicuredlawnsandgardens. Project Phasing:• Phase 1: Infrastructure works

• Phase2:StagingSite

• Phase3:Supportfacilities

• Phase4:Modularbuild-outbasedonclientcommitments

Subdivision Plan with splinter titling, building specifications and ownership options:

• Long term lease

•Lease for purchase

• Outright purchase

Development Incentives:Real Estate/Land:

The Jamaican Government has placed the 40 Acres of land at Caymanas in a Public-

Private partnership (PPP) vehicle for development. The developer will take advantage

of the following concessions offered under the Tax Incentive Programme for Urban

Renewal (TIP):

• Tax-freestatusonbondsissued

• Taxcreditsof25%ofcapitalexpenditure

• 100%taxconcessionsonrental/leaseincome

MarketingThe Government of Jamaica through its Investment Promotions Agency, Jamaica

Trade and Invest/JAMPRO will co-market the ‘Caymanas ICT Business Park’ in conjunc-

tion with the Real Estate developer. Clients of the Park will receive the following

benefits:

Free Zone: Park clients who export more than 85% of their services offshore will

benefit from the following:

• Norestrictiononrepatriationofforeignexchange

• Corporatetaxexemptiononprofitsinperpetuity

• Importdutyexemptiononcapitalequipment

• ReimbursementofVATonlocalpurchases

Training: The National Training Agency (NTA)The HEART Trust NTA gives technical support and financing

for employment training, institutional and via on-the-job

training/ partnerships with community organizations. The

agency partners with start-up investors to promote worker

training and certification with focus on high-skilled jobs

where training leads to certification.

Project Costing:Total investment for completion of buildings estimated at

approximatelyUS$90million.Typicalcosttobuildafacility

isestimatedatUS$75persquarefootwithanadditional

US$75persquarefootforfit-out.Investmentforinfrastruc-

turalworksisaprojectedUS$120million.Targetrentalrates:

US$10persquarefootperannum.Typicaltime-to-buildis

8 - 16 months.

MANUFACTURING/ICT

CAYMANAS ECONOMIC ZONE

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INFORMATION COMMUNICATIONS TECHNOLOGY ICT)

Demographics

The Municipality of Portmore is the English-speaking Caribbean’s largest middle–income dormitory community, and a strategic location for Jamaica’s ICT development. With over 265,000 residents many of whom are tertiary educated; Portmore offers a large certified workforce and easy access to first-rate educational institutions.

Accessibility

Portmore is 10 minutes from the nation’s capi-tal – Kingston and 25 minutes from the Norman Manley International Airport with excellent road connectivity and infrastructure for communica-tion and utilities. It is connected by the Highway 2000 toll road as well as the Mandela Highway. Portmore’s attractiveness has captured the atten-tion of outsourcing industry heavy-weights such as Affiliated Computer Services (ACS), and West Corporation which facilitate the business process-ing needs of Fortune 500 clients such as Delta Air-lines, Xerox Corporation and Proctor and Gamble.

Jamaica’s world class telecommunications in-frastructure extends to Portmore. The Fibralink submarine cable network provides enhanced de-livery of business and broadband traffic. Jamaica

is linked to the Americas Region Caribbean Ring System (ARCOS-1) submarine cable in the Do-minican Republic; the link to ARCOS-1 provides seamless connectivity to US, parts of the Carib-bean, Central America, and South America. There are two major broadband carriers which provide triple redundancy. Project Concept

Within Portmore, the Government of Jamaica has earmarked a region called ‘Naggo Head’ for the purposes of establishing 21 acre Technology Park which is expected to break ground in early 2011.

The Naggo Head ICT Park is premised on an in-tegrated ecosystem built on a modular plan from seeding or staging site. Typical time-to-build is anywhere between 8 months to 16 months.

The Staging Site

Staging Sites have become a feasibly sound so-lution, serving as a stop-gap measure for clients while their decisions surrounding total real estate requirements are satisfied – custom buildings, large-scale facility lease, corporate-design fit-outs etc. Staging Sites are meant to provide cli-ent organizations with a facility to deploy “plug-and-play” models with their chosen businesses.

In addition such sites are also aimed at providing facilities to local entrepreneurs who can leverage world-class facilities within their constraining cost structures to provide sourcing services to global clientele. Typically such sites have the configura-tion as shown on Figure 1 overleaf. (See Fig. 1)

The Complete Project

● 600,000 square feet hosting approximately 6,500 seats and up to 12,000 jobs.

●TargetrentalratesofUS$10persquare foot per annum

● On-site power generation with excess capacity sold back to the national grid ● Telecommunications providers will supply last mile connectivity

Infrastructure

● Modular Floor Layout for Office Space

● Scalable office Infrastructure (28-38,000 Sq. Ft. - Single Floor Plate)

● Earthquake and Hurricane resistant infrastructure

● Centralized air-conditioning & AHUs located on each floor

● OFC and Structured Cabling Network.

●Privatededicatedpowersupply[IPP]

● 100% Power Backup Support

● 24 hour uninterrupted water supply

● Large Capacity, High Speed Passenger and Service Lifts

Amenities

● Security - Access Control and Electronic Surveillanceww

● Transportation services

NAGGO HEAD ICT PARKPORTMORE MUNICIPALITY

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● Ample Parking Space. ● Beautifully landscaped area comprising of manicured lawns and gardens.

Development Incentives

Real Estate/Land

The Jamaican Government has placed the 21 Acres of land at Naggo Head in a Public-Private partnership (PPP) vehicle for development. The Urban Renewal Act and Factory Incentives Act offer attractive tax-free Real Estate benefits to encourage development.

Free Zone

Park clients who export more than 85% of their services offshore will benefit from the following:

● No restriction on repatriation of foreign exchange ● Corporate tax exemption on profits in perpetuity ● Import duty exemption on capital equipment ● Reimbursement of VAT on local purchases

Training: The National Training Agency

The HEART Trust/National Training Agency gives tech-nical support and financing for employment training through an island-wide network of institutions, and via on-the-job training/ partnerships with community organizations. The agency partners with start-up in-vestors to promote worker training and certification. It has particular interest in high-skilled jobs where training leads to certification. The agency offers finan-cial assistance, usually in partnership with the firm, to fashion on-the-job and in-plant curricula for compa-nies creating new jobs. Project support are negotiated and driven on specific project analysis. The Agency also helps to recruit and screen applicants and assesses and certifies on-the-job learners. Limited financial support offered to firms that pursue accreditation as a training organization.

Marketing

The Government of Jamaica through its Investment Promo-tions Agency, Jamaica Trade and Invest/JAMPRO will help facilitate marketing of the ‘Naggo Head ICT Business Park’ in conjunction with the Real Estate developer.

Project Costing

Total investment for the completion of the buildings is esti-matedatapproximatelyUS$45million.AmeasureofUS$75isestimatedpersquarefoottobuildwithanotherUS$75persquare foot for fit out. Infrastructure works investment is projected at approximately US$60million.

NAGGO HEAD ICT PARKPORTMORE MUNICIPALITY


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The Tinson Pen Logistics Center proposes the development of an inter-national, multi modal logistics and distribution center on 40 hectares of land, which is currently occupied by the Tinson Pen Aerodrome. The de-velopment of the Centre will include display areas, administrative facilities, warehouses and the construction of a new aerodrome and as-sociated facilities. The services to be provided include inter alia cargo lo-gistics, warehousing and value added services. Located to the south-east of Kingston, the property is zoned for industrial purposes and adjoins the Port of Kingston and the Free Zone company operated by Kingston Logistics Centre (KLC).

The facilities will consist of:

• showroomsanddisplaypavilions;

• warehousesforvalue-addedandfulfillmentservices;

• informationandtraderesearchcenter;

• offices(customs,administrativeandsupportservices).

Key Highlights

• TheestimatedvalueofInvestmentrequiredisUS$400mn

• AFeasibilityStudyiscurrentlyunderway

• ThelandisownedbytheGovernmentofJamaica

TINSON PEN LOGISTICS CENTRE DEVELOPMENT

LOCATION: KINGSTON

Navy Island is a small 25 hectare island on the northeast coast of Jamaica owned by the Port Authority of Jamaica (PAJ/The Authority). PAJ is de-sirous of developing the property into an upscale resort and ecological theme park. The property is in close proximity to Port Antonio’s upscale tourism destinations, as well as the Ken Jones Aerodrome and has two natural beaches. The Authority, is aggressively seeking a suitable inves-tor who is willing to purchase or partner with The Authority for the fu-ture development of the property.

Key Highlights

• Therearetwonaturalbeachesonthewesternshoreoftheisland: Crusoe Beach and the v e r y s e c l u d e d Trembly Knee Beach

• CloseproximitytotheErrolFlynnMarina,a32-slipmega-yacht marina, and the Ken Wright Cruise Terminal

• Accesstoelectricityandwaterfromthemainland

• Highway2000connectivitytootherpremierdestinationsonthe North Coast

NAVY ISLAND/TITCHFIELD LANDS

LOCATION: PORTLAND

LOGISTICS/TOURISM

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AIR CARGO, LOGISTICS, AVIATION

The re-development of the Vernamfield property into a major air cargo hub, aircraft maintenance and aviation training facility, as well as a local military base, began as a con-cept almost 20 years ago.

Located in central Jamaica, Vernamfield comprises 1,773 hectares or 2,900 acres of land, which makes it larger than Manhattan, New York.

Current capacity includes a 5,000-foot con-crete runway. The total development project is estimated atUS$1billion todesign andconstruct two parallel 11,000 foot runways and taxi ways. These rehabilitated runways will have the capacity to handle the largest aircraft, including the Antonov AN-124, AN-225 and the Airbus A-380. The development includes the construction of Category Five hurricane-proof aircraft hangers, which will include offices and warehousing.

Once Vernamfield is developed, it will pro-vide a new airport for cargo carriers, manu-facturing and logistics, specifically:

• Air Cargo (centralized sorting and clear-ance centres)

• Express Courier Cargo Handling Facility

• Fully equipped aerodrome with tele-communications centre and flexible runway capacities

• Air/Sea Logistics (distribution centres, commercial space for trade shows, fire and rescue station)

• Dry port concept (warehousing facility for off-site manufacturing and assembly plants)

• Aircraft maintenance facility

Historically, Vernamfield was the best loca-tion in the region for the USA’s Intermodal transportation system, and for the protec-tion of their merchant fleets.

Its re-development has been the long-nur-tured brainchild of veteran parliamentarian and current Minister of Transport and Works, Mike Henry, who has set out to make the project a major catalyst for economic devel-opment in the parish of Clarendon and the broader central Jamaica region.

Vernamfield Development Project

Several Incentives will be offered to Investors which will result in greater levels of profitabiity and ease in doing business.

These include:

• Industry Incentives Act: If a business in Jamaica produces an “approved product” that has a supply market of less than 60% of the demand market, then it may gain “approved enterprise” status, which exempts it from the payment of income tax for a period of time.

• Foreign Sales Corporation (FSC) Act: An FSC is a foreign corporation that is allowed to earn some tax exemption on its exports to the U.S. This act provides relief from the Common External Tariff and the General Consumption Tax on equipment, machinery, and materials coming into the coun-try. In addition, it provides for up to five years of income tax relief.

• International Financial Companies Act: In an effort to promote offshore banking facilities, Jamaica has provided international financicompanies with income tax relief on both profits and capital gains.

VERNAMFIELD DEVELOPMENT

LOCATION: CLARENDON

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Incentives cont’d• Shipping Act: Once a company is recognized as an “ap-

proved shipping corporation,” it may receive tax relief and concessions on import duties for up to 10 years.

• Moratorium on Duties: This is granted to companies that don’t qualify for existing incentives, yet have the potential tocontributesignificantlytoforeignexchangeearningsand employment. If the company can prove that it holds thispotential,itmaybegrantedrelieffromimportdutiesforuptothreeyearsbytheMinisterofFinance.

• NOTE-Mostoftheselegislationswillbereviewedorareintheprocessofreviewtoexpandtheservicesbeingofferedas well as to present Jamaica as more in tandem with the demandsofglobalization.ItwilldemonstrateJamaicaasopenandreadyforrobusttrade.

VERNAMFIELD DEVELOPMENT PROJECT

AIR CARGO, LOGISTICS, AVIATION

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BACK RIO GRANDE HYDRO SCHEME

LOCATION: PORTLANDInvestment Type: Equity

Description: Construction of 4 hydro –electric schemes with total capacity of 10mw and annual generation potential of 32,210 MWH

Stage of Investment Readiness: Proof of Concept

ValueofInvestment: US$34m

Status: Feasibility study completed in December 2009

RENEWABLE ENERGY

GREAT RIVER HYDROPOWER PLANT

LOCATION: GREAT RIVER, ST. JAMES

Investment Type: Equity

Description: Construction of a hydropower plant with total capacity of 8 mw and annual generation of 38,000 MWH

Stage of Investment Readiness: Concept developed

Value of Investment: The value of Investment required is to be determined.

Status: The value of Investment required is to be determined.

LAUGHLANDS HYDROPOWER

LOCATION: GREAT RIVER, ST. ANN


Description: Construction of a hydropower plant with total capacity of 2 mw.

Stage of Investment Readiness: Proof of Concept

ValueofInvestment: US$6.7mn

Status: Feasibility study completed in December 2009

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Project Overview

Theglobaloffshorefinancialsector isa$5to $7 trillion dollar global industry that hasbeenidentifiedbyJamaicaasakeyareaforinvestment stimulation. The establishmentof an offshore International Financial Ser-vicesCentre (IFSC),where relatively largenumbers of financial institutions becomeengagedinbusinessprimarilywithnon-resi-dents, represents a clear opportunity for the GovernmentofJamaicatoaccruesubstan-tial annual recurring revenues from statutory fees. There are approximately 80 jurisdic-tions that offer these services worldwide.

Having commissioned a comprehensive KPMGstudyoftheglobalIFSCmarket,Ja-maica has developed a clear strategy to en-terthemarketwithauniquebusinessmod-el, predicated on its politically independent structureofGovernmentandstablefinancialsystem.

Investment Opportunity

The establishment of an offshore financialservices centre is a key investment initiative of the government of Jamaica. The objec-tive is to leverage Jamaica’s strengths byentering the market as a Mid-Value Com-petitor with a carefully planned strategy of developing into a Centre of Excellence. As aMid-ValueCompetitor, wewill develop anichemarketandbuildourreputationinthemarketuntilwebecomeaglobalproviderofa highly specialized niche service.

The focus is on the provision of value-added services, e.g. international holding compa-nies, trust services, ship and aircraft registry etc.,whichareenhancedbycriticalsuccessfactors such as: ●JamaicabeingasignatorytothirteendoubletaxationtreatiesandtoaTax Information Exchange Agreement (TIEA) with the United States.

●Strongfinancialregulatorysystemandmembershiponregionalandinternationalregulatorybodies,includingtheCaribbeanFinancialActionTaskForce(CFATF) ● A large cadre of highly trained English speaking professionals ● World-class telecommunications ● A mature tourism product with excellent air links ● The capacity to host large meetings in convention hotels, with more than 20,000 rooms

The vision of the IFSC is that multi-lateralsandotherenterpriseswillfindtheseattributesattractive, particularly given that Jamaica could position itself as a pool of relatively low cost professional resources for international financecompaniesseekingtoreducecost.

INTERNATIONAL FINANCIAL SERVICES CENTRE

FINANCE

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PRIVATE PROJECTS

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AMATERRAAmaterraJamaicaLimited,aproposedfive-starresortandmixed-use development with a championship golf course and other at-tractions, is located in the vicinity of Duncans in the parish of Tre-lawny.

It is situated next door to the site of the exclusive Harmony Cove development,andwillbeconstructedon865acres.TheprojectispotentiallyoneofJamaica’sflagshipmixed-usedevelopments,with plans that call for the construction of villas, condominiums and hotels. Additionally, there is an ideal site for a conference centre and/or casino with a natural outdoor amphitheatre.

Proposed Features

•2300hotelroomsinexclusivefivestarhotels•2000villasandtown-homelots•Luxuryapartments•ChampionshipGolfCourse•100-acreCommercialCentre

Key Highlights

• ProximitytoAirport-Approximately30minutesfrom the Sangster International Airport.• 3.5kmofscenicoceanfrontagerangingfromwhite sandbeachestomajesticlimestonecliffs.• ApprovalsGranted-Subdivisionandenvironmental approvalshavealreadybeensecure.

Incentives Available

• TheHotels(Incentives)Actprovidesincometax relief and import duty concessions for up to 10 yearsforapprovedhotelenterprises,and15years forconvention-typehotelswith350ormorebed rooms.

• TheResortCottages(IncentivesAct)provides resort cottages with income tax relief for up to seven (7)yearsandimportdutyconcessionsonimported buildingmaterialsandfurnishings.

TOURISM

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• TheResortCottages(IncentivesAct)provides resort cottages with income tax relief for up to seven(7)yearsandimportdutyconcessionson importedbuildingmaterialsandfurnishings.

NEGRIL PENINSULATheNegrilPeninsulaResortisauniqueconceptthatbringstogetherthenaturalresourcesofJamaicawithfirst class resources in leisure, technology and bothphysicalandspiritualwell-being,tocreateavacationlifestyle experience.

Thismixed-usedevelopment,tobeconstructedinfourphases, is consented for 1,202 residential units, three hotels and a new marina to accept keeled yachts and medium-sizedocean-goingvessels.Additionally, fivenew beaches will be created to complete this newcoastal destination.

The coastal shoreline of approximate-ly one kilometre, which is fronted by the Caribbean Sea to the south, will also accom-modate the creation of five new beaches. Forsustainability, a substantial part of the lower ba-sin has been earmarked for commercial life andwill see the establishment of office buildings, retail areas, restaurants, sports and leisure facilities. The development will also include a security centreandmedicalfacilities,andwillbecompletedinfourphasesoveraperiodoffiveyears.

Key Highlights

• ProximitytoAirport(Approximately 90 minutes to the Sangster International Airport in Montego Bay).• Greatsunsets• Sevenmilesofwhitesandbeachnearby.• Idyllicgetaway• ApprovalsGranted(Resort&HotelPermits/ licences, Marina and Boat Yard Permit, Planning Approval etc.)


• TheHotels(Incentives)Actprovidesincometax relief and import duty concessions for up to 10 yearsforapprovedhotelenterprises,and15 yearsforconvention-typehotelswith350ormore bedrooms.

TOURISM

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GREEN CASTLE ESTATELOCATION: ST. MARY

Located on a 1,591 acre of prime real estate property near Annotto Bay (north coast), 20 miles from Kingston, this project proposes the construction of high end sustainable, eco-friendly accommodations. Of the 1591 acres, the initial plan indi-cates construction on only 213-400 acres. The development will create a luxury, low impact mixed used residential resort that will be environmentally, economi-cally and socially sustainable.

Main features

• Beachhotelof200keys

• Luxuryhotelof150keys

• Estateresidences–75lots

• BeachCasitas(15)

• Hillsideresidences-40lots

• Equestriancenter

Key highlights

• Highway2000connectivity

• CloseproximitytotheBoscobelAerodrome(St.Ann)

• Beachfrontpropertyspanning2milesonthecoastoftheCaribbeanSea

TOURISM

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BARRETT HALL LIFESTYLE VILLAGELOCATION: ST. JAMES

Barrett Hall, a 429 acre site located approximately 15 miles from Montego Bay, Jamaica’s tourism capital, was identified as a well suited location for a retirement village. The site was chosen for sev-eral reasons, including:• Closeproximitytothebeachfront(only0.25milesaway)

• NearbyhealthfacilitiesinMontegoBay

• ItsgentleslopingviewoftheCaribbeansea

• Thefactthatitisonly20minutes’drivefromSangster International Airport – one of the largest and most successful airports in the Caribbean, with connections to a host of destinations worldwide.

• Itsproximity(5miles)tothe“ElegantCorridor”whichhosts premier resorts such as the Ritz Carlton, Half Moon Club and Sandals Royal Caribbean

The advantages of investing in this project include:

• Jamaica’scloseproximitytoFlorida,thethirdmostpopular retirement destination in the United States

• Thedevelopmentofanewprivatehospital,theHospitenGroup, which operates an international network of private hospitals located in major cities and tourist towns in countries such as Spain, the Dominican Republic and Mexico

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• ProximitytotheNorthCoastHighway

• Locatedapproximately15minutesfromrecently modernized Sangster’s International airport

• Proximitytootherproposedmajordevelopmentsinthe area including an ultra luxury resort that will offer casino gaming and is approximately 15 minutes away from the location of the Lifestyle Village.

The estimated value of Investment required for this projectisUS$63.5mn

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BARNETT TECH PARKLOCATION: ST. JAMES


Description: The Barnett Tech Park consists of 10 fully serviced lots within a 46 acre (18.6 Ha) gated complex in the Fairfield area. The Tech Park is located on the western side of Montego Bay, approximately 15 minutes from the Sangster International Airport, 5 – 10 minutes from major hotels, restaurants and other leisure activities. It is approximately 8 – 15 minutes from the various univer¬sities in St. James.

Stage of Investment Readiness: Concept developed

ValueofInvestment: US$1.8bn

Status: The principals obtained outline development approval from the local authority


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• TheResortCottages(IncentivesAct)provides resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings.

COTTON TREE BAYCotton Tree Bay is a short drive away from the casual, laid-back resort townofNegril,which is famous for itsseven-milebeachstrip.ThenewsuperhighwaybetweenMontegoBay and Negril gives easy access to the property, which consists of approximately 200 acres. It boasts twomilesof waterfront starting at the eastern point of Green Island Bay in the parish of Hanover and continuing east along the northern coastline.

Somegrooming and development of these beachesmaybenecessarytobringoutitsoptimumpristinebeauty.Thisdesirablelocationhasmanypossibilities,anditideallysuit-ed for marina, resort and/or residential development, villas, hotels, spa facilities, exclusive residential homes and riding stables.

Its extensive coastline could offer various water sports from sailing, snorkeling and scubadiving to spear-fishing.Theturquoisewaterofferslocalflora,faunaandmarinelife.

Key Highlights

• ProximitytoAirport-CottonTreeBayisa 50-minute drive from Montego Bay, but the Negril Aerodrome has daily flights arriving from the Sangster International Airport in Montego Bay, which is 20 minutes in the air in each direction.• GreatSunsets• Beachonpropertyandnearbyaccessto Negril’s famed seven-mile white sand beach.• Idyllicandsecludedgetaway

Incentives Available • TheHotels(Incentives)Actprovides income tax relief and import duty concessions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms.

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LAUGHLANDS

This property is located in St. Ann, known as Jamaica’s garden parish. It is immediately off the north coast highway and is 124 acres with sea frontage. The property sits next door to the Chukka Cove polo grounds and boasts two main spectacular beach locations.

It is also in close proximity to an air strip for light planes, which can be ac-cessed by reservation. Laughlands, due to its location and pristine white sand beach stretches, is well poised for high-end resort development.

Key Highlights

• ProximitytoAirport-1½hrsfromSangster International Airport

• ApprovalsGranted-Thereisanapproved development plan, which includes the construction of hotels, condominiums or any mixture of residential uses.

• Extensivebeachandclifffrontage


• TheHotels(Incentives)Actprovidesincometaxreliefand import duty concesions for up to 10 years for approved hotel enterprises, and 15 years for convention-type hotels with 350 or more bedrooms.

• TheResortCottages(IncentivesAct)providesresortcottageswith income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings.

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MAHOE BAYThis38-acrepropertysituatedinMahoeBay,St.James,iswithin a short distance from Sandals Cay, which is owned bytheSandalsGroup,and15to20minutesawayfromtheSangsterInternationalAirportbycar.

Proceedingeast towest, thecoastlineof thefirst thirdofthesiteisverywellprotectedbyawidecoralreefthatjustbreaksthesurfaceoftheseaatroughly300feetout.Look-ing west as the coral reef narrows and provides a natural openingtothesea,thecoastlinerecedestoformadouble,white sand crescent beach that offers a beautiful beachfront.

Threehotels havebeen identified for construction on theproperty, twoofwhichhavebeengrantedpreliminaryap-proval. Due to the proximity of the Sangster International Airport,therecommendedheightfordevelopmentisfivestories.

Key Highlights

• ProximitytoAirport–MahoeBayis15to20 minutes from the Sangster International Airport.

• Beautifulwhitesandbeachfront

• Approvalsalreadygrantedfortimeshareand hotel construction.

Incentives Available • TheHotels(Incentives)Actprovidesincometax relief and import duty concessions for up to 10 yearsforapprovedhotelenterprises,and15 yearsforconvention-typehotelswith350ormore bedrooms.


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MOSQUITO COVEMosquito Cove, a unique property equi-distant betweenHopewell and Lucea in Hanover, is an ideal property for a marinaandhoteldevelopment.Thecoveisprotectedbyareef,butallowseasyaccess toyachtsentering thecalm,protectedbay.

The71-acrepropertyislocatedontheeasternsideofthebayandisnorthofthehighwayfromMontegoBay,Jamai-ca’s second city.

South of the highway, approximately 200 acres of land rises gentlyandcanbedevelopedintoagolfcourse.Thewest-ern side of the land is 14 acres and has a small white sand beach.Theownerswillsellpartsofthepropertythatbearanumberofdifferentlandtitles.

Key Highlights

• ProximitytoAirport–MosquitoCoveis 40 minutes from the Sangster International Airport.• Beachonproperty.• Excellentprospectsformarinaandhotel development.

Incentives Available • TheHotels(Incentives)Actprovidesincometax relief and import duty concessions for up to 10 yearsforapprovedhotelenterprises,and15 yearsforconvention-typehotelswith350ormore bedrooms.

• TheResortCottages(IncentivesAct)provides resort cottages with income tax relief for up to seven(7)yearsandimportdutyconcessionson importedbuildingmaterialsandfurnishings

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SAN SANThe San San Estate is one of the few remaining pristine properties in Jamaica where there is an opportunity for high-end resort development. The property is located in Portland ontheeasternendoftheislandandsitsonatotalof600luxurious acres. On the property, the scenic San San Bay consists of 10 acres with unsold villa lots and an 18-hole golfcourse.Thereisasignificantportionofthelandthatisnot yet developed, which offers exciting potential for villas, a hotel and the maximisation of the golf course.

Key Highlights

• Proximity to Airport - Approximately 2 ½hrsbyroador20minutesbyairtothe Norman Manley International Airport (NMIA)

Incentives Available The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to 10 years for approved hotelenterprises,and15yearsforconvention-typehotelswith350ormorebedrooms.

TheResortCottages (IncentivesAct)provides resort cot-tageswith incometaxrelief foruptoseven(7)yearsandimportdutyconcessionsonimportedbuildingmaterialsandfurnishings.

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WHITE BAYWhiteBay,ideallylocatedclosetoFalmouth,Trelawnyonthenorthcoastoftheisland,isasuperbbeachfrontprop-erty with access to the new North Coast highway.

Permissionforresortdevelopmentof30villasand40cot-tages,orasmallhotelwiththeequivalentroomshasbeengrantedandcouldbeincreasedsubjecttotherequisiteap-provalsbeinggranted.Duetothefactthattherearenoriv-ersnearby,thewateriscrystalclear.Thetopographyofthelandallowsforvillastobebuiltbehindthebeachand,astheland rises, all villas can have a sea view.

Themainwhitesandbeach in thewesternsection isap-proximately 1,200 feet. The eastern section is roughly 2,000 feethalfofwhichisrockycliffs.ConstructioncanbeginatWhite Bay immediately.

Key Highlights

• ProximitytoAirport–WhiteBayis30minutesfrom the Sangster International Airport.• Beachonproperty.• Approvalsgrantedforresortandsmallhotel development.

Incentives Available • TheHotels(Incentives)Actprovidesincometax relief and import duty concessions for up to 10 yearsforapprovedhotelenterprises,and15years forconvention-typehotelswith350ormore bedrooms.


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DIVESTMENT PROJECTS

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NORMAN MANLEY INTERNATIONAL AIRPORT & SELECT GOJ AERODROMESLOCATION: KINGSTON

Investment Type: Public Private Partnership

Description: NMIA is a one of two international air ports in Jamaica. The existing concession at NMIA is for a period of 30 years commenc- ing October 2003. The divestment of NMIA is being packaged to include the expansion and development of other government owned aerodromes including Negril, Boscobel, Ken Jones, Vernamfield and Duckenfield

Stage of Investment Readiness: Concept developed/ Pre-divestment and Data Collection

Value of Investment: The value of Investment required is to be determined.

Status: Technical, Market and Environmental Studies to be done.

TRANSPORTATION

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MAVIS BANK COFFEE FACTORY LTD. (MBCFL)LOCATION: MAVIS BANK, ST. ANDREW

The Mavis Bank Coffee Factory, MBCF, is Jamaica’s largest and only fully integrated Jamaica

Blue Mountain® Coffee facility. The factory produces a diverse line of authentic 100% Ja-

maica Blue Mountain coffee sold under the Jablum brand and includes Blue Mountain Cof-

fee (roasted beans), Instant Coffee and Liquid Coffee Beverages. Approximately 1.4 million

pounds of green beans from over 6000 farmers are processed at the factory annually. The

Mavis Bank Coffee Factory Limited has had sales revenue over the last few years ranging

betweenUS$8millionandUS$11.6millionperannum.

AGRICULTURE/AGRO-PROCESSING

WALLENFORD COFFEE COMPANY LTD (WCCL)LOCATIONS: KINGSTON, CLARENDON, ST. CATHERINE, ST. ANDREW, PORTLAND, ST. ELIZABETH AND ST. CATHERINE

The Wallenford Coffee Company is one of the largest licensed processors and exporters

of Jamaica Blue Mountain Coffee. The company is vertically integrated and is involved in

the purchasing, growing and processing components of the business process. Its Coffee

Farms are located in Kingston, Clarendon, St. Catherine, St. Andrew, Portland, St. Elizabeth

and St. Catherine. The Government of Jamaica is seeking investors who will undertake the

financing, development, operation and management of the WCCL.

TheCompanyhasassetsvaluedatoverUS$20millionandhasrevenuesofoverUS$7mil-

lion per annum in recent years.

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THE OCEANA BUILDINGLOCATION: DOWNTOWN, KINGSTON


Description: The Oceana Building, formerly a 200 room Oceana Hotel, comprises of 12 floors located on the scenic Kingston waterfront. The building covers 222,129.44 sq. ft.

Stage of Investment Readiness: The project is ready for investment

Value of Investment: Valuation available

Status: Expressions of interest requirements include: business plan, physical plan, financials, and other

REAL ESTATE

THE OFFICE CENTRE BUILDINGLOCATION: DOWNTOWN, KINGSTON


Description: The Office Centre Building comprises of 12 floors with office spaces located on the scenic Kingston waterfront. The building covers 222,880 sq. ft.

Stage of Investment Readiness: The project is ready for investment

Value of Investment: Valuation available

Status: Expressions of interest requirements include: business plan, physical plan, financials, and other.

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FONT HILLLOCATION: ST. ELIZABETH

The Font Hill property which comprises 1,054.5 hectares is located on the south coast of Jamaica, approximately 8 km west of Black River, in the parish of St. Elizabeth. The property is owned and operated by the Petroleum Corporation of Jamaica (PCJ) a statutory corporation and an agency of the Ministry of Energy and Mining and is being zoned to facilitate development in the areas of Agriculture, Tourism, Port & Logistics Facilities.The Font Hill property has a unique and diverse ecosystem in the wetland area. It is home to several protected, endemic and rare species of wild life. It boasts a wide variety of endemic bird species, turtles, crocodiles, indigenous plants and an extensive mangrove wetland.

The land is constantly being developed by the PCJ. Studies have been conducted for agriculture fuel wood pilot project, plans drawn up for forest reserves, wildlife sanctuary and resort/resi-dential and public beach park.

Land Features

• Pocketsofwhitesandbeach

• Approximately7.5kmofbeachfrontage

• Limestonehill

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For further information on theseinvestment projects, contact:

Claude DuncanV.P. Investment PromotionJAMAICA PROMOTIONS CORPORATION

18 Trafalgar RoadKingston 10, JamaicaT: 1 876 978-3337 ext. 2201F: 1 876 978-0140E: [email protected]

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NOTES

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NOTES

HEAD OFFICE18 Trafalgar RoadKingston 10, Jamaica W.I.Phone: +1 876 978 7755; 978-3337Toll Free: +1 877 INVESTJA (468 4352) Fax: +1 876 946 0090email: [email protected]

NORTH AMERICAN REGIONAL OFFICE303 Eglinton Avenue East, 2nd FloorToronto, Ontario, M4P 1L3, Canada Tel: 416-932-2200 (main) 416-598-3008 Fax: 416-932-2207Toll-Free: 1-877-744-2208E-mail: [email protected]

LONDON OFFICEJAMPRO / Jamaica Trade Commission1 Prince Consort Road,London SW7 2BZ, EnglandPhone: + 44 20 7 584 8894Fax: + 44 20 7 823 9886email: [email protected]

JAMPRO - Jamaica Investment Opportunities - Sept2010

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