Business

Boundaries of economic empowerment zone extended

Government announced the extension of the boundaries of the tax-free economic empowerment zone in the House of Assembly yesterday.

Prime Minister Dr. Hubert Minnis presented the boundary changes, explaining that the changes will now allow those who reside within the zones to expand their homes and housing developments duty-free and in the case of businesses, pay no business license tax.

The announcement amended the original economic empowerment act and extended the tax-free zone from its Nassau Street western boundary to Poinciana Drive, then south on Rupert Dean Lane to encompass Black Village. It then follows Huyler Street to Blue Hill Road and South to the Independence highway, where the boundary continues east along to the Marathon Mall junction, then west along Robinson Road to Claridge Road North. The boundary then meets Wulff Road to the imaginary boundary extension of Collin’s Wall, where the original boundary continues. 

Minnis said the new boundary was drawn to include Black Village, St. Barnabas, Englerston, Montell Heights and Ridgeland Park.

He added that sections of Kemp Road, Fox Hill, Gambier and Adelaide remain in the act “to help decrease their tax burden”.

Minnis said these changes will bode well for inner-city residents.

Government revealed in 2017 its intention to produce concessions for those in the inner city in order to lessen the economic divide between the haves and have nots in the country.

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Chester Robards

Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian. Education: Florida International University, BS in Journalism

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