Hamilton, Bermuda 15 June 2023 – Over 40 people attended a seminar hosted by the Bermuda Economic Development Corporation (BEDC) on Tuesday, June 13th that provided an overview of the exciting prospects for the Northeast Hamilton Economic Empowerment Zone (EEZ). The event outlined the plans for this zone, highlighting the strategic initiatives and development projects set to shape its economic landscape.
Attendees included business owners, residents, and entrepreneurs, all who were present to learn about the Government’s recently legislated Approved Residential Scheme guidelines and the Northeast Hamilton Plan. Attendees were provided with a better understanding of the framework and regulations that will shape future residential development within the zone. The speakers explored the intricacies of these guidelines, highlighting key considerations, opportunities, and potential challenges for investors, developers, and stakeholders.
In addition to learning about the Approved Residential Scheme guideline and development plans,attendees engaged in a lively discussion with some expressing concern about previous plans and the lack of available resources. The consensus was that there needed to be support provided to ensure that existing and new entrants into the area benefit from the development projects and strategic initiatives.
Shawn Brown of the Uptown Development Authority, one of the key speakers at the event, said, “We welcome passionate conversation and feedback from our stakeholders. This seminar provided an exceptional opportunity to lay out insights into the vision for Northeast Hamilton’s economic empowerment. We are excited about the future and are committed to ensuring that our strategic initiatives and development projects are inclusive and beneficial to all stakeholders.”
Meka Steede, also of the Uptown Development Authority, echoed Brown’s sentiments, stating, “We are at a pivotal moment in the history of Northeast Hamilton. The guidelines and plans we discussed at the seminar will help to shape the future of this area. We are optimistic about the potential for growth and economic empowerment in the area.”
The seminar was well-received by attendees, who expressed enthusiasm and optimism about the potential for the area. A local business owner in attendance said, “Attending the BEDC seminar, I felt optimistic about the proposed residential schemes. The balance of facilitating growth and maintaining the culture of Northeast Hamilton can be hard. Initially I had some concerns, but the discussions offered me information that can help me to better prepare for the changes ahead.”
Attendees were open to having further discussions and working one on one with BEDC and UDA on how they can take advantage of the opportunities and how to best position themselves for the future considering the plans for NEH.
The seminar served as an invaluable educational experience for investors, business owners, developers, policymakers, and enthusiasts eager to grasp the future trajectory of this dynamic region. The Northeast Hamilton EEZ is poised for exciting growth and transformation, and this seminar was a significant step in that journey.
For more information about future events and initiatives, please visit the BEDC’s website at www.bedc.bm.
The Bermuda Economic Development Corporation (BEDC) is Bermuda’s source of free, confidential business advice. The mission is to actively assist the development of a strong, well-managed and prosperous local business sector in Bermuda. The key objective of the BEDC remains providing a broad range of business advice, counsel and financial assistance to local businesses in Bermuda.