The devastation in Florida caused by Hurricane Ian makes the government’s decision on whether to extend the Special Economic Recovery Zone (SERZ) order for Abaco and Grand Bahama even more urgent, Acting President of the Abaco Chamber of Commerce Daphne de Gregory-Miaoulis told Guardian Business yesterday.
De Gregory-Miaoulis said business people on Abaco need the government to make a decision on the order quickly, so they can make decisions on when to purchase and how much to purchase, given that supply levels and shipping timelines will now likely be unreliable.
“We need to plan,” said De Gregory-Miaoulis.
“We need to know what to do to try to grab whatever building materials we can get.
“We know that even if we buy them today, the delivery is not necessarily going to be immediate.”
She added, “It’s definitely escalated the demand for a decision to be made and business houses need to know that the extension will be granted, so that they can go ahead and make purchases.”
The SERZ order was put in place following the passage of Hurricane Dorian in 2019.
The damage to Abaco and Grand Bahama was so extensive that the government thought it necessary to grant the islands tax breaks through the SERZ to spur redevelopment and rebuilding.
But in 2020, the COVID-19 pandemic derailed that recovery for two years, and the SERZ order is now only in place until December 1.
De Gregory-Miaoulis said she intends on holding a press conference this week with Abaco businesses in a bid to convince the government how badly the extension is needed.
She insists another year will be helpful to the people of Abaco, but hopes for more time than 12 months.
She told this paper recently that new businesses have been opening up on Abaco, but dilapidated buildings in Abaco’s city center of Marsh Harbour remain a constant reminder of the horror of Dorian three years ago.
Those businesses have, therefore, opened up outside of the still-recovering city center.
She contended that this exodus from the center of commerce could be explained by the lack of available space in Marsh Harbour because buildings remain in disrepair.
She said she plans to lobby for government to step in and demolish those Marsh Harbour properties that pose a threat to lives and properties, should another storm hit.
