An events venue to be built near Clearwater Beach will bring “positive” benefits to the island’s tourism sector, MPs heard today.

Owen Darrell, the tourism minister, said the project was deemed by the Government to be an attraction of national interest.

It came as MPs agreed to a tourism investment order granting tax rebates to Premier Tickets Limited and 2.0 Collective, the companies which partnered to undertake the venture.

The developers proposed the installation of a pavilion tent and containers at the beach’s parking lot, located south of the Bermuda Motorcycle Racing Club, for the purpose of hosting events.

Mr Darrell said Ptix signed a two-year lease with the Bermuda Land Management Company for the project. The events venue will sit alongside Cooper’s Island Road.

The company sought customs duty relief through the investment order for a period not exceeding five years.

Mr Darrell said that the company was confident about the project’s fruition and added: “I concur that this venue will become a vibrant component of the East End of Bermuda.”

Opposition MP Dwayne Robinson said that the One Bermuda Alliance backed the venture.

He said: “The One Bermuda Alliance supports any sort of relief for the local economy and improving amenities for our tourism product.

“We look forward to seeing more targeted relief to the local economy and infrastructure growth within the tourism industry. This is a great start.”

Neville Tyrrell, the Government Whip, who also serves as chairman of the BLMC, said the body welcomed the project.

He told the House of Assembly: “When the idea was brought to our board, we certainly grabbed it with both hands because we’ve been trying to get some excitement going down in the East End.

“I see this as nothing but a positive for all of Bermuda, especially the East End.”

In a statement, Ptix said the venture will be a “turnkey event space”, offering a fully equipped solution for event organisers.

The company said that the goal is to eliminate the high costs and operational burdens associated with setting up and dismantling infrastructure for concerts, festivals, cultural events and community gatherings.

Michael Branco, the founder and director of Ptix, added: “We are incredibly grateful to both the Government and the Opposition for supporting the tourism investment order in the House today.

“It’s a great example of Bermuda coming together to support community initiatives that benefit the island.

“There’s still significant work and investment ahead but we’re aiming to have the venue operational in the coming months.”

Ptix said it will move forward with the installation of the main tent structure, perimeter fencing and event infrastructure, pending further legislative approval.

It said the venue will be staffed by Bermudians, providing jobs in ticketing, security, hospitality, operations and event management.

The venture will also offer a consistent and affordable platform for Bermudian artists, performers, food vendors and small businesses, the company added.

“This project is an investment in Bermuda’s event economy, with the hope that it gives a literal stage for local talent,” Mr Branco added.

He said for Ptix — being a 100 per cent, Bermudian-owned company for 16 years — the venue will be a natural extension of its commitment to the local event economy and to the broader community.

Mr Branco said that the project aligns with his personal commitment to investing time and resources into building opportunities for Bermudians.

St David’s MP Lovitta Foggo said she was excited about the project and noted that it will create a “positive atmosphere” which the East End community will enjoy.

She said she was also looking forward to the job opportunities the project may bring to the area.

Plans for the project were approved by the Development Applications Board last October on the basis that mitigation efforts to protect the environment were included.

While concerns were raised about potential environmental impacts given the site’s proximity to the Cooper’s Island Nature Reserve, a technical officer said in a report for the DAB that measures could be taken to reduce those impacts.