JIS News

Minister of State, in the Ministry of Industry, Investment and Commerce, Michael Stern has said that the Factories Corporation of Jamaica (FCJ) will continue to manage its inventory of land and buildings, to facilitate industrial and commercial activity across the island.
In his contribution to the 2008/09 Sectoral Debate in the House of Representatives yesterday (June 17) Mr. Stern informed that, “currently the FCJ controls in excess of 44.5 hectares (109.0 acres) of vacant lands and some 174,713.51 square metres of factory space situated in 36 locations in 11 parishes.”
The State Minister said that when the company began its operations in 1987, 75 per cent of its tenants were engaged in the garment industry. However, in recent times the occupancy has varied from manufacturing (54 per cent), warehousing (18 per cent) to distribution (14 per cent), service (1.2 per cent), and information and communication technology (4.5 per cent). “The Corporation will maintain focus on business sectors with proven growth potential,” he added.
“One building, factory four, at the Montego Bay Free Zone will be sold to the Port Authority of Jamaica. Four factories, numbers five, six, seven, and eight, will be leased primarily for manufacturing and information and communications technology purposes, while three new buildings are slated for construction,” Mr. Stern said.
He noted that two new buildings will be constructed in the Corporate Area and one in Christiana, Manchester to accommodate the demand for factory and warehouse space.
“The FCJ proposes to rationalize its existing assets by disposing of unproductive and unmarketable space, mainly by offering idle lands for sale/lease to industrial investors,” he said.

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