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VoLUMe 6 no. 41
HUNDREDS OF EXPATRIATES, many of them professionals, have been leaving the Turks and Caicos Islands to go either back to their home countries or to other places where they have been offered more lucrative opportunities. Investigations by The SUN reveal that the majority of those who have already left are Americans, Canadians, Bahamians, Jamaicans and Philippinos. Businesses across the country have been taking a huge beating as a result of the exodus, with many of them having to shut down, while a great number of the remaining enterprises have been forced to cut back on goods and services to the public. Other businesses, in the meantime, have been forced to offer profit-altering deals to attract their ever declining customer base, in order to stay afloat. Over the past six years, the Turks and Caicos Islands experienced tremendous growth, especially in the construction and tourism industries, as investors flocked the territory to claim a piece of the economic pie. With the construction boom, a number of other opportunities began to open up, and since the local workforce was not sufficient to sustain the phenomenal expansion, expatriate workers were sought to fill the breach. Continued on Page 2
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noVeMBer 12tH - noVeMBer 19tH, 2010
600,000 tons of cement and aggregate imported for Airport Construction
CBMS , the chosen subcontractors for the expansion of the Providenciales International Airport, appears to be on the brink of starting its work in earnest with the importation of 600,000 tons of cement and aggregate. A CBMS representative told The SUN that storage of the cement and aggregate ensured that all the materials were in the TCI, so that when the paving of the runway begins, the construction should run smoothly. Currently, soil stabilization work is being carried out at the site, with the laying of the first batch of concrete. Other reinforcement and paving will be done later. Paving machines are expected to arrive from Trinidad and Tobago in the coming weeks to carry out the work. The cost of the materials was not revealed.
AMBERGRIS CAY IN RECEIVERSHIP Story on Page 2
REALTORS Story on Page 7
PROPERTY TAX Story on Page 8