Business View Caribbean - June 2024

“The GIDCwas established to promote and facilitate investments in Grenada,” Theodore explains. “Our investment promotion unit is dedicated to positioning Grenada as a prime investment location and assisting local and foreign investors. We also engage in policy advocacy and offer incentives for priority sectors.” These incentives are crucial for attracting investment, Theodore elaborates, as they provide significant benefits to qualified investors. The facilities unit is pivotal in the GIDC’s operations, serving as the primary revenue generator.Theodore highlights that the GIDC manages three industrial parks across Grenada, housing around 60 tenants. These tenants operate in diverse sectors, including call centers, manufacturing, and warehousing. Beyond investment promotion and facilities management, the GIDC is committed to nurturing the island’s small and medium-sized enterprises (SMEs) through its business development unit.“Our goal is to help these businesses grow stronger,” Theodore asserts. The unit offers comprehensive support, including business planning, name and company registration, and demand-driven training programs. The shared service unit supports these three primary units and enhances the GIDC’s overall efficiency by providing legal, human resource, and research services.This structure allows each unit to operate effectively, contributing to the corporation’s overarching mission of economic development. TARGETED INVESTMENT INITIATIVES The GIDC is taking proactive steps to elevate its investment profile in an increasingly competitive global market. By crafting detailed investment opportunities and focusing on targeted outreach, the GIDC aims to attract significant foreign investments to Grenada. “We are embarking on a more targeted investment approach,” Theodore explains. The GIDC has developed comprehensive profiles for various projects, recognizing the importance of showcasing specific investment opportunities. These profiles include critical details such as investment costs, potential locations, available incentives, and 39 BUSINESS VIEW CARIBBEAN VOLUME 11, ISSUE 06 GRENADA INVESTMENT DEVELOPMENT CORPORAT ION (GIDC)