Potential investor wants incentives
If all goes according to plan, a major multi-million dollar theme park development could be coming to Barbados.
United States-based business consultant David Muddiman told Barbados TODAY he was currently in preliminary discussions with local authorities to see if the development could be done through a private/public sector partnership or with Government giving some “special incentives”.
Muddiman said he was not yet in a position to give details. However, he was adamant that if such a development were to take place on the island it would benefit the job market and the tourism industry.
“The only thing I can share is that this would be a tremendous impact for the job market as well as the tourism dollars which will be brought in. It will be strategic for all parties concerned,” said Muddiman.
“What I would like is for the governing body to invest a minimal amount of dollars for me to market this and proceed with bringing the “right” people to the discussion table. It has been known for quite some time that Barbados is in much need of jobs for the younger generation and the tourism dollars this could bring. What good is it to be the most expensive island in the Caribbean if it scares away the young tourism dollars as well as convention dollars?” he said.
He could not immediately say what the level of investment would be, but explained that before the project could be realized a lot more discussions were needed, adding that he believed in order for the project to materialize “everyone should have ‘some skin in the game’”.
“Like every large scale project there will be some bumps and changes along the way. What would be needed would be for the Government to realize that they will have to give some ‘special incentives’ for such a large investment,” he said.
Muddiman said he was currently in discussion with potential investors for the “theme park brand” to be established in Barbados.
“The idea is to incorporate the theme park with the same branded cruise line,” he said.
“Hopefully the Government will be willing to spend some money to help this along. There is a tremendous amount of due diligence to first see if there will be reasonable return on investment from the project. I am trying to bring these parties together for the development along,” he said, adding that Barbados was “desperately in need of tourism dollars”.