The government needs to give concessions to Bahamians who invest in Long Island, according to one local government official.
Speaking at the first Long Island Business Outlook (LIBO) conference, Long Island Chief Councillor Ian Knowles stated that the government needs to match the perceived benefits enjoyed by foreign investors in order to attract Bahamian-owned industries to the Family Islands.
"I think more concessions need to be given to persons who invest $1 million or more who are living in Long Island, or [Bahamians] coming into Long Island.
"If we can give foreigners certain concessions and incentives, why not do the same for Bahamians?" asked Knowles.
He stated high expenses related to the installation of basic utilities represented a detriment to potential development in the central region of the island.
More reliable access to Crown land and concessions for installing essential utilities, such as water tanks and cable, were chief among Knowles' proposed incentives for Bahamian investors bringing business to Long Island.
Knowles lamented the shortage of government initiatives and incentives for local investors, as well as the lack of a long-term developmental plan for Long Island.
Without such incentives, Knowles argued that Long Island will continue to suffer a population drain due to better opportunities in New Providence and abroad.
"We have a lot of businesspeople from Long Island who live in Nassau. But why would I want to come to Long Island if my electricity bill is high, there's no commercial supply of water, and there's no ground water?
"It's very challenging to do business based upon the high costs that we have to pay for infrastructural development towards our properties.
"All of that is added expense to compete with those in the Deadman's Cay area, where you have cable TV and a good water supply. So for persons who come to develop here, there is the added overhead cost for them to do business."
Aside from government incentives, Knowles called on the Water and Sewerage Corporation (WSC) to provide incremental progress in developing infrastructure in central Long Island, which is still largely without commercial water supply.

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