Development Company announced.

Island Boat Trading has leased a half-acre of land at Ships Wharf on the former US naval base to set up a boat yard for its growing business.

IBT owner and operator Terry Fray last Friday signed a licence agreement for the land.

Mr. Fray said the primary focus of his 14-month-old business was boat tailoring and maintenance, and it already had a client base of more than 700.

He chose to set up at Southside because of the Ships Wharf site, slip facilities, ample space and the reasonable lease rates.

"This is a big opportunity for my business. I want it to grow and expand and at Southside the BLDC is giving me the opportunity to achieve the goals set out in my business plan.'' He said the boatyard was particularly well suited for his business.

"It's away from the hustle and bustle in an area that is comfortable for us to do the kind of work we need to do. It's away from the traffic. It's safe.'' BLDC vice president for commercial development Mark Orchard said IBT's move was another example of a business taking advantage of Southside's opportunities.

"Over the past year, IBT has increasingly used Southside,'' he said.

"When Mr. Fray approached us about setting up here, we lined up his needs with Southside's opportunities. The deal we struck gives IBT all the space it needs in a good location and at an attractive rate.''