Tech zone to bring 10,000 jobs

| 24/03/2011

(CNS): The private developers of the proposed technical and science zone say that if the project goes ahead it could create as many as 10,000 jobs in the Cayman Islands and generate some $500 milllion in revenue. According to an economic impact study by KPMG, the Cayman Enterprise City (CEC), a Special Economic Zone which will be constructed somewhere on Grand Cayman by Hon Developments, will contribute some 15 percent of the country’s GDP and over a three period and eventually generate some 5,000 jobs inside the park and a further 4,800 jobs outside the zone. At least 800 of those jobs, the developer said, would be created within the first year.

“New exciting careers will be created for Caymanians in the fields of IT, science, media, commodities, commerce and academia,” said Jason Blick from Hon and Chief Operating Officer for the CEC. “CEC is an entirely privately funded project and there is no investment being sought from the Cayman Islands Government.”

The proposed development was announced at the CBO conference in January, when the premier signed an MOU with the developers paving the way for discussions about concessions and specific legislation that would facilitate the creation of the commercial area.

Although the site for this special science and technology zone has not yet been revealed or which international firms or anchor tenants, if any, have agreed to move in once the CEC is completed, the developers say that it will host growing enterprises as well as giant global brands.

The Hon team will be visiting Dubai in the United Arab Emirates next week along with the premier to meet officials there to propose a working relationship that would benefit both Cayman and the UAE when Cayman Enterprise City becomes reality, Hon said in a release on Wednesday. McKeeva Bush is scheduled to meet the Hon team to lead the delegation to Dubai after his visit to Venice to examine a damn built by GLF.

Despite the unrest in the Arab world, reports from Bloomberg reveal that Dubai remains a safe haven as its financial markets continued climbing in the face of the regional problems this week. Home to a number of free trade specialist zones and currently planning an aerospace enterprise zone, Dubai’s wealth has stemmed from commerce because, despite being in the heart of the Arabian Gulf, the Emirate has no oil resources of its own.

“The achievements of the United Arab Emirates as a pioneer and global leader in the development of the world’s best Special Economic Zones are unprecedented,” said Bush. “We have identified great synergies between our jurisdictions and recognize that working cooperatively for mutual benefit can create enormous opportunities for both countries. As one of the world’s leading financial centres, the Cayman Islands seeks to partner with the best.”

The developers say that Cayman Enterprise City will expand the standard free zone model to offer flexible regulations and better incentives for international companies. The focus they say, will be on science and technology, research and academia, commerce and trade. Cayman Enterprise City will be the largest Technology, Communications and Commerce cluster in the Caribbean region.

“This visit to the UAE is enormously important to Cayman and the CEC project,” said Barry G Hon Chairman of Hon Developments. “One of our primary objectives is to forge relationships with key SEZ stakeholders in the UAE, and communicate the advantages to companies who establish a presence in CEC. Cayman will also benefit greatly from the exchange of information gleaned from this trip.

The developers say they are confident that providing access to clients in the important markets of North America and the emerging giants of South America will facilitate the work of key stakeholders currently in the UAE. Hon said Cayman’s strategic location as a gateway to the Americas and its position as the world’s 6th largest banking centre, will make Cayman Enterprise City appealing to international brands in Europe and the Middle East who wish extend their global reach.

“Having the premier personally reach out to high ranking officials in UAE is an indication of just how dedicated we all are to making Cayman Enterprise City a reality, Blick stated. “Partnerships with successfully established SEZs such as those within the UAE are crucial to CEC’s success.”
Once Cayman Enterprise City is an operating Special Economic Zone, Hon expects it will quickly create jobs for Caymanians and immediately boost the local economy. CEC will also diversify the Caymanian job market to create opportunities for the next generation.

The developers say they have a 50-year proven track record in successful master planned developments. Cayman Enterprise City will be state-of-the-art campus of innovative and sustainable architecture, designed to complement and respect the local environment. It will include: Cayman Internet Park, Cayman Biotech Park, Cayman Media Park, Cayman Global Commodities Park and Cayman International Academic. There will be no manufacturing or engineering within the park and CEC will create a knowledge based society with no environment consequences and will be an eco-friendly development.

International businesses establishing within the zone will not be permitted to trade in Cayman outside of the zone nor will they be permitted to compete with local businesses. Local Caymanian businesses outside the zone will benefit from new customers and new opportunities will be created for Caymanian entrepreneurs to service those doing business within the zone. Local Caymanian contractors and sub contractors will be sought to build the five campuses which will be developed in three phases comprising 500,000 sq feet of Class A office space.

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  1. Firefly says:

    I love this idea. This now provides me with an opportunity to go back to school on island and still work. I prefer not to do distance learning. I’m old school; I need a live bodied teacher in front of me. Afterward I will have an opportunity to work in my field and not muddle around trying to convince an employer why they need my skills. Truly how many people can say that they are actually in the field they studied in university?

    This provides opportunities for people with housing rental properties that are currently vacant. The supermarkets will have an increase in customers. Yes, this seems like more people will come, but it may be just what we need here on island. It does not appear to have an environmental impact such as the other far fetched proposals e.g. the oil refinery and the North Sound dredging.

    I am ecstatic that this project is not only catering to the rich, but to everyone.

    Bringing schools on island is perfect. It will bring students. Students will not initially compete for jobs, but will spend money on island eg. restaurants, supermarkets, gas stations, bars, dive shops, etc. After these students have completed their education, if at that point they compete with the local market so be it. Competition breeds progress, success and excellence. In any event during their period as students, it provided at minimum 2 years of spending locally!!! How can you beat that?!

    Survival of the fittest is the way of life. For Cayman to stay in the competitive market, we need to work with what we have. If we don’t have it then create it. This Special Economic Zone appears to do just that, creating opportunities and a new market for the island.

    Work with these people Cayman. Do it for generations to come.

  2. Anonymous says:

    Their proposal asks for work permit fee and immigration law concessions or breaks so I figure those 10,000 jobs are not earmarked for Caymanians.

  3. Shepherd says:

    Finally, a positive development! This and Shetty hospital, thumbs up! North Sound and oil refinery THUMBS DOWN!

    Stay positive on this one folks, it could be a goodie!

  4. Anonymous says:

    10,000??? 20% of the population? Anyone else find that a little hard to believe?

    • Dred says:

      Well lets not forget the Shetty Hospital with 2,000 beds. If that model lines up with the US model in terms of staff/bed we would be looking at 14,000 to 18,000 staff needed.

      Now let me tell you what scares me. Apparently some time ago Immigration was suggesting that the ratio of Caymanians to Work Permits had to be more even out in that we couldn’t have 20,000 Caymanians and 30,000 permits.

      In light of that convo now what will happen should these two projects hit the ground. So what are we to expect?

      1) Whoesale Cayman Status Grants like we have never seen before

      2) A New Breeding Factory for Caymanians

      Just how will we do this?

    • Ricardo Toledo Piza says:

       This is the perfect combination for what the Island needs.Creates a whole new world of business opportunities , exchange of knowledge, job creation and growth for the local economy.With amazing projects like this one, I can’t see other future than a bright one for the Cayman Islands, its people and its residents as well. Congrats for the current administration for the ability to attract this positive trend and envision a future of prosperity for everyone. 


    • Fire the bums, ALL of them!! says:

        If it is true, then "Hurrah!"  

      However, what are the Telecom requirements?  Will our little rock support the bandwidth needed for IT research and development?  What is the opinion of LIME, Digicel, and Logic?


    • Aint fooling me says:

      Has anyone even read the proposal? Yes 10,000 jobs will be created but they are asking Government to reduce work permit fees and restrictions within the zone, so 10,000 jobs for who? not Cayanians ! They are waving that carrott in our face in order to get support for what is another investment project that wantsGovernment to change laws so they can make more money!
      Im not convinced that they will even use local labour and expertise to busild the place

  5. Not an Expat says:

    Is sickening to here people always complaining, always asking what’s in it for me, always looking for a handout. While never actually offering anything of themselves. It’s always the laziest people who want the most..

  6. Anonymous says:

    The creation of 10,000 jobs why would anybody in their right mind object to thiis. Think not only of the creation of jobs ~ which is fantastic but also of the knock on effect of this stimulating our entire ecomony. Technology is a fact of life, we should be honoured that the Hon Family have chosen Cayman because not only will this create jobs of our children now but a brighter technological future for all of us. Fabulous, absolutely fabulous news. Embrace this Cayman!

  7. cabusow says:

    really people.

    no environmental damage

    potential for many jobs both caymanian, local and international

    increased productivity in a wide variety of industries due to the construction that will help this badly hit part of the economy and by doing so help the crime rate

    indirect development for housing developers

    retail opportunity for existing retailers in cayman

    long term work for maintenance companies

    increased revenue for gov

    what on earth is there to any reason to discuss this

    the detractors to this project will detract against everything and you have to wonder what  is there agenda


    and no other opportunities will come knocking on our door in the now and distant future

    its time all us caymanian businesses owners take a stand against spiteful politicians bent on riling their base on baseless nonsense before they destroy this economy

    and the financial industry too for that matter should stand up with us as this will enhance and add to our white collar sector

  8. ANONYMOUS says:

    Good reasoning Mr Premier

  9. Anonymous says:

    Why the scepticism – let me see – oil refineries in every district, turning the North Sound into a theme park for mega yacht owners that may or may not ever turn up, here a hotel, there a hotel, everywhere a hotel, etc. etc. etc. etc.

    Perhaps if the Government released the full KPMG study which they say supports the project then the people could see that the project is more than just a rubbish excuse for more luxury travel by the Premier. At the moment it is questionable whether anything the Premier says has sufficient credibility with any voters except possibly those who have recently come into possession of a new refrigerator. 

  10. Anonymous says:

    I don’t understand why some readers are negative about a new development that will surely help boost the economy in Cayman? There are many, many people hurting in the Caribbean and the U.S because of this bad economy…so many jobs have been lost.  Isn’t it better for everyone to be hopeful and excited about a new idea that will create jobs and renew prosperity? Skeptics – get over it! Give this development a chance, it just might turn things around.

  11. Caymanians against stupid blogs says:

    I cannot believe the negative comments posted here. What do you want? to go back to cow-itch, maiden plum and wampers??

    Lets be real here please and not silly.

  12. The Beaver says:

    …in other fictional news, Premiero El Jeffe Industriale McKeewa Bustamente had his passport confiscated by authorities in the UAE. When asked the reason for his “detention”, UAE authorities stated “Who in their right mind would not want to keep this brilliant job-creating genius?”. Almost immediately after their statement, a loud Caribbean-sounding roar rang out, “Please keep him!!!” The Beaver

  13. Anonymous says:

    This is a great opportunity for the Cayman Islands to rid itself of it’s increasing debt and prosper again.  Everyone became too complacent in the recent boom years and now cannot understand why everything is getting more expensive and the standard of living is decreasing.

    In Mr. Hon, we now finally have someone who is prepared to spend substantial money of their own, to create new jobs for a significant number of people, which in turn will bring in much needed revenue!

    The UK Government has already said they are not going to approve any further loans to the Cayman Islands.  We should be on our knees thanking the Hon family, for planning to develop and investing in, this Special Economic Zone.

    We just need the Cayman Island Government to make the right decisions and allow this to go ahead and not be too greedy and try and take too much for themselves!

  14. Satirical says:

    Well if this creates 10,000 jobs- the unemployment reate should be drastically reduced.. hmmm will even have jobs left over for those who haven’t finished scholl as yet.
    Oh but then I forgot, Caymanians are ‘unemployable’ and we will hence have to look to others to fill these positions and possibly bring the work permit number back up again..

    • Anonymous says:

      Caymanians are employable, certainly.  But my money says that even if 10,000,000 jobs were created, the same people that are not working now would not be working then.  And I have a theory as to why that is…


  15. Wisest Owl says:

    Are we going to lease a part of the united States to accommodate all these projects and people coming to the cayman Islands?

    How much revenue is this for the work Permit Scam project?

    Is the Minister for labor and education, the work Permit Chairman, the immigration Board Chairman and the DER all working together to ensure that young Caymanians get the education and experience needed to fill these positions? There’s still time so WHERE’S THE BEEF?

    Or are all of you licking your lips looking at the revenue the printed work permits will bring in, What do you have planned for Caymanians getting these jobs ahead of time?

    • Anonymous says:

      What do “you” have planned for Caymanians getting these jobs ahead of time? By you I am supposing you mean the government. Well lets see what the government does in this country for Caymanians (1) Caymanians get FREE education in this country (2) Caymanians who take advantage of this FREE education and do well are also practically guaranteed an educational scholarship to a selection of institutions both local and overseas (3) Caymanians who qualify themseleves and have good work ethics get jobs (4) Caymanians can register with the DER for employment. WHAT ARE CAYMANIANS DOING TO EMPOWER THEMSELVES

  16. noname says:

    In Other Words, More Work Permits!!!!!!

    10,000 new jobs? This is probably a major hype job but no matter the number of new jobs, rest assured 99%of them will be filled by permit holders.

    Am I wrong, Mr. Premier?

    • Anonymous says:

      What difference does it make who fills the positions as long as qualified Caymanians are given the opportunity to fill them if they can then one would expect the rest to come from abroad as we certainly do not have 10,000 Caymanians available and qualified. It is the run off effect from having a larger population that will bring alot of the benefits. We have to think outside the box now if this country plans on meeting its debts and not crashing.

  17. Anonymous says:

    YA every hear more rubbish- way these people going stay – way we going to go – get real ! oOh maybe the northsound dredging is going to expand the CaymanI slands and make it bigger – What a mess. My -My we are like a drowning man grabbing at straw – We too greedy and the polititions only shooting bul— to keep us calm. get Real Polititions – work the plan and stop making noise where there is no wind to blow it across.

    Would be good to hear Ezzard’s view on this next Tuesday morning. Although I don’t trust him one bit either –

  18. Just Saying says:

    After reading this article and the previous articles on this project doing a little research into SEZ globally and checking out the Cayman enterprise city website I am excited to see it come to fruition I see no promises of Caymanians getting 10’000 jobs right away (5’000 direct jobs and 4’800 indirect jobs) but a clear want by this company to develop Caymanian talent and give our future generations more opportunities with education and diversification of our job market

    This company seems to genuinely care about the acceptance of this venture by the Caymanian people they even have a “benefits to Cayman” section on their website that encourages you to leave comments and ask questions check it out

    At the very least Cayman do your research before slamming a project. Then if you still have concerns you can voice them in an informed way that will get you heard – Just Saying

    • Wisest Owl says:

      Theyr’e not saying too much about the project. Exactly what are they going to do there?  We need details before we celebrate. Remember people come here to do their dumping. I mean their waste.


      ARE THERE ANY BIOHAZARD RISKS INVOLVED in this Science project?

      WE NEED TO KNOW clear details.

  19. "Paper person" says:

    CNS could really just cut out the middle men and just put a LOL smiley or the bellowes right after the article!

  20. Anonymous says:

    To the person who posts "God forbid that any expats come here to fill those positions. We have enough here as it is" certainly must know Hi-Tech Jobs will be for the Asians, Americans and Europeans and others that are well educated. They will be managing and hiring the BEST people for the Jobs. The ones who think they should have the becuase of being born here must realize those days are gone and must polish themselves up to compete in a Global Economy or continue to be passed over. If this EVER became a reality it could be a great opportunity for home grown Caymanians but they must realize that they will have competition so the young people need to knock that chip off their shoulder their parents gave them. The government is looking to blow life in the Economy. First and foremost they are interested in the revenue it brings. If it creates a few jobs for Caymanians becuase they had what it takes to get the job that is great. However, don’t forgot creating jobs for Caymanians is only the by-product. First is the revenue.

  21. Banker says:

    I must confess that I was smiling when I heard the first time about this project – another Mickey Mouse idea, I thought. But having had the honor to meet with the developers, I changed quickly my mind. This is a great opportunity for my children (9 and 14 years old) to get an interesting job in Cayman in a few years. However, they still might have to study outside of Cayman, first. But then they can come home to Cayman – to work in positions that Cayman has never offered before. You other readers here might laugh about this project – but I hope I will be able to prepare my children to take advantage of this offering. Yes, of course there will be a lot of expats coming to Cayman – but that is good and healthy! You remember Wally Whittakers campaign slogan "26,000 work-permits"? And that point of time around 4 to 5% of the Caymanians were unemployed. Now we are down to 20,000 work-permits, and the unemployment rate is close to 10%. Therefore, dear locals, please embrace this opportunity for your island. Yes, we all like to have a good laugh about our politicians and their funny ideas (like the one with the oil-refinery) – however, this one project seems to be a real good opportunity for Cayman. I’m in!

  22. another anon says:

    This project looks realistic and the highest probability to go ahead. I like the low impact (or at least less obvious) impact on the environment. The jobs created will help to fill some of the empty rentals and homes for sale.

    The challenging/downside may be the strain on the social fabric if a number of expats are needed to fill the positions. Ideally the Premier won’t be promising Status Grants although anything is possible.

    Once the development is confirmed and announced young Caymanians should be given a list of skills that will be required to fill these high tech jobs so they can begin planning their College and University education appropriately.


  23. McCarron McLaughlin says:

    Wasn’t this one of those deals Mac signed without coming to the country first to appease just few of his friends? And then he acts surprised when we don’t support him fully. When our leader made the announcement at the end of January 2011 on this project, I remember it was 5000 jobs that was floated around of jobs being created and now two months later the consultants have increased that number a full 100% to 10000 jobs. See compass article if in doubt: Don’t these people realize we don’t have that type of capacity at this time, with all the other projects that are planned, where is the infrastructure? Where is the forward planning?. Where are we going people? When is this government going to realize we Caymanians can no longer be blinded by these fudged numbers? Sorry I won’t fall for this XXXXX until these guys start acting and think more rational.

    • Anonymous says:

      Our politicians are only motivated by Baksheesh.  Gather what you can, while you can, before handing the portfolio of incomplete projects to your successor.

  24. Madhatter says:

     YAY….Along with this and all the other projects, MacKeewa and McJuJu are gonna get a deweloper from Wenice to build the North Sound gowerment cruise ship dock!  

  25. Be Positive Cayman says:

    From the comments I have read so far the intelligent ones are all for it. The skeptics can justified in their views given our history and the nay sayers are the usual negative anti everything fools that like to rant without bothering or wanting to find out the facts.
    I have been following this one closely. It seems to me with all the contentious proposals out there and the impossible dream projects this one truly does make sense.
    We need to back something. We cant chase everything away and destroy every opportunity for Cayman and our future.
    This project has been the ebst opportunity Cayman has seen is decades and we have to embrace and support it.
    So far the opposition party has been relatively quiet and this is good as it is not a political matter. This project is for our future and will single handedly turn the economy around. With out it what do we have to look forward to. Think about that Cayman. The rest is just hot air. THIS IS REAL!!
    Once you have the facts you cannot dispute the benefits of this project. If you do you have another agenda which is sad because the future of Cayman and our kids should come before any ones personal, political or spiteful agenda.

  26. Anonymous says:

     With Barry Hon’s track record – don’t hold your breathe.  Google his name for history….

    • Anonymous says:

      He could build on Mt. Trashmore. After all, he does have experience in building on unstable land. lol.

  27. Anonymous says:

    CNS, please tell us who is the owner of this project. Is it a Caymanian Company, and if so who is the Cayman that own the Company? Who are the 10,000 potential employees – are they Caymanians?

  28. anonymous says:

    I am getting really excited at the thought of this! Just what will happen first? The super hospital, any of the three cruise terminals, the mega yacht marina, the oil refinery or even the Nasa spaceport that was recently mentioned.

    I am hoping to submit plans to build a facility that will turn aluminium cans into solid gold by the use of particle seperation and re construction. There is a similar venture in the Maldives that I would like to visit and use as a ‘fact finding’ tour.

    I just need a Caymanian to own 60 per cent and an office in Lagos to look after the marketing and email.

  29. Marek says:

    Why so negative. Hon is/was involved with the HSBC complex and Governors Square. Two very well designed and successful projects here in Cayman.

    His real estate development track record is excellent and he has made several trips to Cayman specifically to explore this project… and those trips were made on his Global Express jet… most likely at a cost of several hundred thousand dollars each.

    So he is putting his money where his mouth is.

    Personally my fingers are crossed for this project as I would like nothing better than to see all the local contractors get some much needed work.

    Glass… half full !!!

    • Will it work? says:

       If it is true, then "Hurrah!"  

      However, what are the Telecom requirements?  Will our little rock support the bandwidth needed for IT research and development?  What is the opinion of LIME, Digicel, and Logic?


  30. Anonymous says:

    “Reports from Bloomberg reveal that Dubai remains a safe haven as its financial markets continued climbing in the face of the regional problems this week.”

    You might want to run that past a few other sources before taking it as gospel because that isn’t what I saw out there earlier this month.

    This looks like a fairly unsubtle attempt to move financial assets (under the guise of investments) out of an area of the world that could become extremely unstable in the coming months.

    • Sadly says:

       Sadly, our young Caymanians will not be ready for any of these jobs!  

      We suffer from a whopping 65% illiteracy rate!  Our children cannot fill out a proper application form let alone write a decent resume.

      The bloated Education Department cannot get rid of non-functioning teachers since they are "voters" and cannot implement literacy and numeracy programs that work because of "lack of funding" so buildings, bricks, and new TVs are put into the classrooms while the languishing students await decent teachers and decent programs.

      Parents….DEMAND better and see what exactly that "B" your child gets would be elsewhere in the world…most likely a D+.  Start questioning the system, it has FAILED US.

      • Anonymous says:

        Believe it or not, this has gone exactly according to plan because as long as our kids are vegetating in front of Playstations, movies and the like or wandering around as anti-social zombies with ‘PUM PUM’ music in their Ipods, they are UNLIKELY to question ANYTHING! Unplug Cayman, Unplug! smell the roses, they are real, not some digitally manufactured illusion. Why do the standards for GCSE drop every year? It is because our kids are dumbed down and we have trusted the system which has failed us. Believe me, this is a pre-cursor for an influx of zillions of Indians, Chinese and the like.

      • Anonymous says:

        ‘Sadly’, where do you get your figures from? You say the Cayman illiteracy rate is 65%, which means the literacy rate is 35%.Jamaica’s  literacy rate is 86%.  A literacy rate of 35% puts us right down at the bottom of the World list, alongside countries like Chad and Ethiopia. An online search suggests Cayman has a 98% literacy rate, which sounds right to me. You want to check your facts before making public your inaccurate figures, and doing Cayman a disservice in the process.

        • Anonymous says:

          98% — wow, you got blinders on! There is no way, the educational system is a mess.

      • Anonymous says:

        "We suffer from a whopping 65% illiteracy rate!".

        Pray tell where you got those figures from. You just made it up didn't you?. It is impossible for us to have a 65% illiteracy rate and have 40+% graduating with at least five good passes (A-C) at secondary level.

    • Anonymous says:

      You’re probably right: and Mac is heading there at full speed to collect those brown paper bags they were promised for following the UAE model for tech park, oil refinery and artificial islands

  31. David Kirkaldy says:

    Without speaking to the necessity of travel or linking with other SEZ’s in the Middle East which I know nothing about, and going only on an objective look at what is available in the public domain on this project, I am pleased to see a concept such as this non-manufacturing SEZ proposed for the Cayman Islands. 

    The staff and equipment that may be granted concessions to domicile here are simply not coming here now and will not come unless this SEZ is in place, so we are not losing anything by granting them a concession to come. 

    As I understand it, businesses within the SEZ cannot trade locally so the impact on a local business is not existent.  However, a host of local service providers who would benefit greatly and see increased spending in their businesses, ranging from cleaning companies and office supply vendors, to hotels and restaurants, to car dealers and property for rent or sale. 

    Ask most business other than financial services how things are going and you will understand that, in general, there is a real crisis due to the lack of development on the island.  This SEZ concept seems to me a simple way to kick start development again, rapidly, and with the least impact on the environment which seems to be the primary stumbling block (aside from money) with all other development proposals currently on the table.

    There are a host of issues to work out related to the license I am sure, but on the face of it I fail to see how this proposal can generate anything other than a positive response. 

    There, I did it!  I managed to state my personal opinion on this issue and in this often unduly testy forum without bashing anyone, and even claim ownership of my opinion by signing the submission. 


  32. Anonymous says:

    I enjoyed the comment below about the use of bellows and smoke to revive the dead. Perhaps CNS could consider adding another button showing a bellows after the LOL button. That way we could all quickly give our opinions on press releases from the government.

  33. Anonymous says:

    nice plans but like everything else in recent times, it is all just hot air…. whats the latest with shetty???

  34. Anonymous says:

    Then make it happen folks!….less talk..more action!

    • Lachlan MacTavish says:

      These 10,000 jobs along with the oil refinery, the folks redesigning the look and building of the North Sound Channel, mega dock in GT and Shetty hospital will require a complete rebuilding of the immigration system. Many truly believe that these projects are not the answer to Caymans problems.

  35. Anonymous says:

    PT Barnum is credited with noting that the reason he was successful was that, “there is a sucker born every minute”. CNS readers might wish to consider whether others may be relying on the same formula for their success.

  36. Anonymous says:

    In years gone by it was believed that it was possible to revive the dead by blowing smoke up the rectum of the deceased using a bellows. [Look it up.] Now it seems that the same smoke is distributed using press releases, and that it is used to pacify the gullible and rally the brain dead.

  37. Anonymous says:

    Lets hope they have spoken to some of the other businesses here – particularly that are those developed with expat investment so they know just how impossible the immigration and red tape is and just how anti-expat the island’s dwellers really are.

  38. Anonymous says:

    God forbid that any expats come here to fill those positions. We have enough here as it is.

  39. Real World says:

    “New exciting careers will be created for Caymanians in the fields of IT, science, media, commodities, commerce and academia,” said Jason Blick from Hon and Chief Operating Officer for the CEC.

    Oh, right. Cayman has an educational system that will prepare the youth for these jobs, right? Yeah, right. Lots of jobs? Perhaps. For Caymanians? . . mmmmmm.

    The Ritz Carlton. . .jobs for Caymanians! Camana Bay. . .jobs for Caymanians! Has anyone done the maths to see how many Caymanians versus Expatriots are now working for these organizations? Let me tell you, not as many as were promised. As far as I can see, the rate of unemployment is Cayman has not been improved. When will we stop being bamboozled by these vain promises of easy jobs?

    And you think with 22% duty on imports, and the cost of running a busines in Cayman, companies will rush here to set up shop to trade with the US, S. Amercia, and the Caribbean? Oh, wait. . .I know what will happen: While local companies continue to pay 22%, the Premier will give these “special companies” concessionary rates. Right! Like voiding duties and taxes and changing the law and lowering the standards of medcial care by allowing a new lower-tier of less qualified medical practtitioners without thought of consequence to encourage Dr. Shetty to come. Sorry, Mr. Premier, where is Dr. Shetty? We haven’t heard from you on this for what — a year? Come on, own up – he’s not coming is he?

    Since the UDP took power there has been nothing but talk about inward investment, plus one (or is it two) MOUs, which the government announces as if they’ve secured a contract! But tell me this, apart from Dart (who is the mainstay of private investment in Cayman) who else has the Premier been able to entice to Cayman? As it stands at the moment, the Premier’s globetrotting is proving to be poor value for money when it comes to finiding investors for Cayman. Nothing is happening. And you know what. . .probably nothing will with Cayman in the current state it’s in.

    And while the Premier worsens the state of the economy by trying to tax his way out of a recession; tries to plug the hole in the budget deficit by trying to find one or two big inward investors to pay some taxes, the local economy is dying and honest small business men and women — mostly Caymanians — are loosing their businesses, their employees, and their livelihoods.

    Sham, sham; shame shame.

  40. Anonymous says:

    Another pie in the sky story to justify the travel… nothing actually happens at the end of the day though.

  41. Libertarian says:

    ***** A special economic zone creates advantages for “some” local businesses. However, the business of government is not to own business or grant special favors, but to protect individual rights by maintaining a level playing field. The most successful way to foster economic growth is to reduce government red-tape and get out of the way of private local companies / businesses. What I don’t understand, if such a zone is so great for these islands, why not now consider lowering fees, duties, and permits that would dramatically benefit the local eutreprenuer? ***** Libertarian

    • Anonymous says:

      My fear is the concessions. How far will government go out on the limb in granting favors for this zone? XXXXXXXXX

    • Anonymous says:

       Developers and major land owners won’t make big $

  42. noname says:

    Of course it will. The Pope is actually Muslim too.

  43. Anonymous says:

    Here we go again…promises promises promises…didn’t the promise of jobs justify the Ritz Carlton????LOL LOL