Ground broken for Garmex freezone redevelopment project

Prime Minister Andrew Holness today broke ground for the Garmex Freezone Redevelopment Project at the GFZ and Commercial Complex on Marcus Garvey Drive in Kingston.

The project is expected to help spur economic activity.

The full redevelopment of the complex will be carried out over three phases and is projected to take approximately three to five years.

Phase one has should be completed within 12 months and the development of the other phases will follow thereafter and the timeline will be determined by the demand for space.

The broad objective of the project is centred on the optimal utilisation of the complex in order to facilitate business expansion, increased job creation and sustained economic growth.

Phases one and two will see the construction of 15 new buildings totalling approximately 370,000 sq. ft.

Phase three will see the vertical expansion of the existing buildings where structurally feasible and economically viable to create an additional 250,000 sq. ft. of rental space and support facilities.

The redevelopment of the complex will provide the additional industrial space and the necessary supporting facilities required by existing and new businesses which are desirous of operating in a special economic zone in order to avail themselves of the benefits and synergies that flow from operating in a zone of this nature.

It is also expected to provide additional employment opportunities for approximately 3,000 persons over the next three to five years.

Follow The Gleaner on Twitter and Instagram @JamaicaGleaner and on Facebook @GleanerJamaica. Send us a message on WhatsApp at 1-876-499-0169 or email us at onlinefeedback@gleanerjm.com or editors@gleanerjm.com.