11 November, 2014

Dear Sir,

A small but substantial percentage of the cost of goods in Bermuda comes from the capital cost of paying duty when things arrive in Bermuda.

This is not only expensive to the end customer but also raises the amount of capital needed to start or grow a business, hurting fledgling entrepreneurs.

There is a unique opportunity to use the airport and Marginal Wharf as an integrated air and sea cargo dock complete with bonded warehousing so customs duty is only payable when items leave the warehouse.

It would have the triple benefit of moving warehousing jobs from New Jersey/Jacksonville where vendors store items before bringing them to Bermuda, shaving several per cent off retailers cost of goods, and lowering the capital needed to become an entrepreneur.

I believe the government must act now to properly value this potentially significant reduction in the cost of living in Bermuda and if necessary change the plans of the newly announced airport.

AL