US investor looks to inject $115m into IT sector

By Al Edwards, Acting Financial Editor

Blythe

A TEAM of US investors from the company Global Technology and Business Solutions (GTABS) International is looking to invest $115 million (US$2.5 million) in Jamaica's nascent Information Technology (IT) industry.

GTABS International based in Atlanta, USA, is a technology and business solutions provider. It provides outsourced technology solutions to small and mid-sized businesses.

The team of investors from GTABS International will arrive in Jamaica on Sunday June 17 for a one-week business investment opportunity sortie. It will be headed by GTABS president and chief executive officer W. Jerome Hall, chief training officer Aundra Walthall and Jamaica's Honorary Consul in Atlanta, Vin Martin. They will meet with JAMPRO's IT and International Business manager Julian Robinson, Gary Wong of the Office of Contractor Generals and the Minister of Water and Housing, Karl Blythe.

Speaking on investment opportunities in Jamaica, Mr. Hall said: "With the Digiport sited in Montego Bay and the highly-skilled citizens of Jamaica, the island has vast resources that will be ideal for collaboration on US and international projects."

According to Mr. Hall, the investment climate in Jamaica is ideal and there is a potential investment opportunity for GTABS to invest approximately US$2.5 million.

The Financial Gleaner spoke with Mr. Derrick Scott in Atlanta yesterday. A former president of the Trelawny Chamber of Commerce, he now works with GTABS and is keen to see his company invest in Trelawny.

"This is the second time in less than a year that we have looked at Trelawny with a view to making a substantial investment. This time I am proud to say that for the first time Trelawny will have some sort of IT activity which will provide much-needed jobs. During my period at the Trelawny Chamber of Commerce I observed that investors regarded us as a sleepy town with complacent citizens. I have always seen the potential of both Trelawny and Falmouth and have actively encouraged investors to bring their money and ideas into the area.

Trelawny can accommodate the IT sector and light industries like garments and textiles. I think the time is now right to reopen the Falmouth Race Track which will be a major economic boost for the parish. Let's not forget that tourism and agriculture have their part to play in getting Falmouth back on track. Of the US$2.5 million earmarked for Jamaica some of that money will go to the revitalisation of Trelawny."

Mr. Hall, also speaking to The Financial Gleaner from Atlanta, further adding: "GTABS was founded in 1998 and is capitalised at US$30 million. We will be looking to bring to Jamaica software development, network implementation and web-based design and development. We shall be looking for opportunities in Kingston, Montego Bay and Ocho Rios and the general idea is to recruit programmers. So therefore you have a project manager in the United States with staff in Jamaica who can interface with our clients. JAMPRO has suggested that we seek graduates from the Caribbean Institute of Technology (CIT) as potential employees.

Mr. Hall drew attention to the fact that Jamaican companies are at this point in time not able to employ vast numbers of technology trained personnel and so his company can utilise their talents while remaining cost-effective. There is also the benefit of Jamaica being English speaking and only two and a half hours away from Atlanta. He said that he had a look at making an investment in Puerto Rico but, due the absence of the very reasons that makes Jamaica an attractive proposition, chose not to.

The delegation will move to Montego Bay on Wednesday and will have meetings with the Montego Bay Chamber of Commerce president Mark Kerr-Jarrett and members of the business community. They will visit the Montego Bay Freezone and Digiport.

The group will then move to Falmouth on Thursday and will meet with the president of the Trelawny Chamber of Commerce as a result of the influence of former Trelawny Chamber of Commerce, Derrick Scott, to discuss the possibility of investing in the parish.

They will also meet with Member of Parliament for North Trelawny, Wendell Stewart and pay a courtesy call to Custos of Trelawny, Hon. Roy Barrett. The group is also scheduled to tour the William Knibb High School with intentions of improving their computer facilities.

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