Work on the much-touted $700 million Rum Cay Resort Marina supposedly being developed by Montana Holdings on remote Rum Cay in the southern Bahamas has stalled completely, leaving a gaping hole in the island?s economy, and leading to migration away from home once again for many who had returned in anticipation of work.

One irate Rum Cay resident said, "that word economy doesn?t apply to Rum Cay right now. We don?t have (an economy)."

On its website, Rum Cay Resort Marina claims that it will have a world-class RockResort opening by 2010.

"The resort is a spectacular 870-acre enclave in The Bahamas, 165 miles southeast of Nassau, featuring a mega-yacht marina, a lively Castilian village with boutiques, restaurants and nightlife, as well as private estate residences," according to the website.

The Journal spoke to some of Rum Cay?s 100 or so residents Thursday evening, and their prognosis on the progress of the development can be summed up in the brief comments of Ted Bain.

"None whatsoever," he said bluntly.

Mr. Bain?s assessment does not jibe with the Montana Holdings press material. The company continues to tout the opening date as 2010, and even brags online about presales of ownership of residences in the as yet unbuilt resort village.

Again, asked what has been happening with the marina development over the last few months or so, his answer was a terse, "Nothing."

Mr. Bain is the father of Rum Cay Chief Councilor Trevlyn Bain, and he and his family own and operate the Ocean View Restaurant and Bar on Rum Cay.

He told the Journal that when the development began at Rum Cay, Montana Holdings personnel met with residents every month to keep them up to date on the development.

"When they came here, there were high expectations. We were being informed every month what their plans were, what their intentions were and what they were going to do," he said. "And all this just (seems to have fallen) on hard times, and nothing happened."

"In the early stages when they were getting off the ground, they used to always inform us on a monthly basis with public meetings, but since they stopped digging of the marina, they just stopped communicating with us to let us know what?s going on."

Mr. Bain stressed that everyone on the island had been counting on the resort development for "an economic slice of the pie."

"But as far as that is concerned now, we are just left like that," he said. "High and dry. Nothing, absolutely nothing, is being done on this island."

He said that aside from three residences for resort personnel, there has not been any construction activity related to the Rum Cay Resort Marina in months.

"I guess one, thing (happened) after another, and (construction of the marina) fell on hard times and they stopped," Mr. Bain said. "And there hasn?t been anything going on since then."

Delores Wilson, another business owner in Rum Cay, also lamented the dearth of work for the island?s workforce.

"We had a lot of our boys came back home to work. They came back to their families and they started to work, and they were so happy about it. But that didn?t (continue)," Mrs. Wilson said.

"This is the worst I have ever seen Rum Cay," she said. "There?s nothing here."

The original plan was for Montana Holdings to shell out $700 million over the 10-year length of the development process, and more than 400 permanent jobs were expected to materialize as a result.

During peak construction, the developers said in the early going that 300 construction jobs would be created.

The first phase of the development was to be the $25 million "blue flag" marina.

Montana Holdings representatives declined to comment when contacted by the Journal.

By Quincy Parker