Prime Minister Perry Christie, along with a number of delegates, toured Baker’s Bay Golf and Ocean Club during a visit on November 20 and told the media that the resort is expected to contribute $450 million to the Public Treasury over the next 10 years
According to Mr. Christie, the contributions will come by way of import duty, transfer, stamp, and property taxes as the project plans a considerable expansion over the next decade.
He added that Baker’s Bay has already invested about $385 million, and will attract an investment of $2 billion over the life of the project.
“We can reasonably expect that the economic impact of this development, will reach well beyond its borders, as homeowners, yachtsmen and visitors to this luxury resort community, also invest elsewhere in the Abacos and in the remainder of the Bahamas,” Mr. Christie said.
Noting that the developers of the project were attracted to the Bahamas during his first term in office (2002 -2007), Mr. Christie said that Baker’s Bay serves as a shining model of the vision and strategy which he has espoused for tourism and economic growth.
“Mr. Michael Meldman, Chairman and CEO, his partners and homeowners are to be congratulated for having created one of the most environmentally sensitive and sustainable developments in the Caribbean. While creating a viable and very attractive product, these investors have raised the profile of the Bahamas by creating a community that attracts North Americans, Europeans and other international financial, entertainment and business leaders to live and play with their families and friends. At the same time Baker’s Bay is a family operation where employees and management work together to create memories for residents and staff. The development itself reflects authentic Bahamian architecture, arts and a lifestyle which reflects these idyllic and luxurious surroundings.
“As the Discovery Land Company has done in various parts of the United States, I feel this is an appropriate occasion for me to invite Chairman Meldman and his partners, to consider expanding their investments to other attractive sites in the Bahamas. It is developments like Baker’s Bay that add to the luster of our tourism product and which deliver on our well branded slogan, ‘It’s Better in the Bahamas’.
“May you grow from strength to strength,” Mr. Christie said.