Gov't expands boundary for urban renewal tax programme
The government says it has expanded the area considered as downtown Kingston as part of its urban renewal drive to boost investment in the area.
The, Minister without portfolio in the Economic Growth and Job Creation Ministry, Daryl Vaz, made the announcement this afternoon during his contribution to the Sectoral Debate in Parliament.
The Government has an Urban Renewal Tax Incentive Programme which provides benefits to businesses that participate.
Vaz said the government has expanded the development area to encompass sections of Kingston and Port Royal.
He said the boundary has been increased to cover 3,023 acres of lands, up from 623 acres.
Vaz said the move is expected to boost efforts to rejuvenate downtown Kingston and address the problem of urban blight.
Vaz added that urban regeneration of parish capitals and towns is paramount to attracting investors and achieving economic growth and development.
For years successive administrations have spoken about a drive to regenerate urban spaces especially in the capital city.
However, stakeholders including business leaders have complained about the slow pace.