The Rubber Tree Market
And Economic Empowerment

Mr. President, today I would like to speak to Government’s ongoing commitment to economic empowerment. On Wednesday the 7th of May Government unveiled the Warwick Rubber Tree Vendor Market initiative. The motivation for this initiative began several years ago when Minister the Honourable Dale Butler introduced the Annual April Rubber Tree Festival. It was a valiant attempt at community ownership and consciousness. It was also a grassroots effort to transform the area around the Rubber Tree into a productive and prosperous zone; an area aimed at providing entrepreneurs with a setting in which to sell their wares in their own space; simple empowerment Mr. President that has mushroomed into a thriving business project today.
The initiative of empowering citizens is a significant component of, as set out in the Speech from the Throne for 2005. Bermuda Small Business Development Corporation in collaboration with the Uptown Market Association, a grassroots group made up of business, property and business managers of the areas established and defined key areas which provide direction to strategic actions.

Much like the Uptown Market Association, the Rubber Tree Vendor Market initiative Mr. President, speaks to several key issues that can only enrich the residents in the parish of Warwick. The idea of empowerment speaks to the elimination of illegal drugs; it speaks to the focused positive development of the Youth of the community. It speaks to image and beautification; it speaks to partnerships and synergies with support organizations. It speaks to creating a vibrant cultural atmosphere; it speaks to opportunity; it speaks to people empowerment.

Mr. President the concept of the economic empowerment initiative encourages a business friendly environment and the growth of local entrepreneurship.
Bermuda public needs to be reminded Mr. President that The Industrial Development Amendment Bill of 2007 makes provision for areas of land in Bermuda to be designated as economic empowerment zones. The Bill also makes provision for businesses and property owners within an economic empowerment zone to be eligible to receive special concessions; such as deferred payment for up to five years of customs duties on materials, merchandise and constructions and other equipment used in the construction or development of the project.

The Rubber Tree is a Banyan tree. The Banyan is a tropical tree with aerial roots that grow down from the branches into the ground to form numerous new secondary trunks. The Rubber Tree true to form has become a hub of entrepreneurial activity, aerial roots providing new secondary trunks, Even as I applaud this new initiative Mr. President, I trust that aerials roots from the Rubber Tree will reach out beyond the parish of Warwick and create new secondary trunks all over our fair island; from east to west.

Thank you Mr. President

Senator Kim N. Wilson
May 14, 2008