Government will set up Economic Empowerment Zones (EEZs) in the east and west ends of the Island in a bid to help small businesses thrive in a shaky economy.

It will also encourage equality in the workplace by creating an Equal Pay Act, announced Premier Paula Cox on Friday.

The Throne Speech read by Governor Sir Richard Gozney outlined Mrs. Cox's new plans to help citizens in their times of need.

The Premier pledged to stimulate finance by setting up EEZs in St. George's and Somerset and transition zones in the perimeters of Northeast Hamilton.

These zones will be modelled after the original EEZ, established in 2007 to give small business owners tax breaks and spread wealth opportunities.

Mayor of St. George's Kenneth Bascome said he was pleased to see the plans come to fruition after talks began with the EEZ six or seven months ago.

He said the new zone would bring "nothing but positive things for the Town of St. George's" and hoped it would encourage young entrepreneurs to get involved in improving the town.

Mr. Bascome said: "There are a number of young people talking to me on a regular basis about starting businesses in St. George's.

"With the two hotels coming online I believe this will be an opportune time for young people to talk with the Economic Empowerment Zone, the banks and others to see if they can bring this together."

Meanwhile store owner Alfonso Harris, of Churchill's, said he was grateful for the help. However he questioned whether it would come in time to save failing businesses in the area.

"I appreciate the effort from the EEZ but (businesses) are not sure whether the plan is going to be here fast enough. I think it is a good idea, I appreciate it, I just hope it comes soon enough."

President Stephen Todd, of the Chamber of Commerce, said the Chamber would be playing "a supportive role" in both the St. George's and Somerset zones.

He said the Chamber and EEZ met with stakeholders in the communities earlier this year. "I think the meetings had a very positive response and a good percentage of the representatives there were very interested in seeing the whole project moving forward especially considering the very difficult challenges faced by businesses in the west and eastern parishes, specifically St. George's.

"I think it is good for commerce generally, especially giving the fact we want to see these communities strive and provide services to their perspective residents and businesses alike and it is only through support that they are able to do that."

Meanwhile Richard Hartley, of Burrows and Lightbourne, who operate a liquor store in the east end, said: "Anything Government can do to help the businesses will be a good thing."

Though the chain store would not likely be included in the EEZ's plan, Mr. Hartley said it would be a great resource for smaller stores and help them with areas like payroll tax.

Meanwhile, Trade, Economy and Industry Minister Kim Wilson said a law concerning equal pay regarding gender would also be implemented in the next 12 months.

Asked why it was needed when there is already provision in the Human Rights Act, Sen. Wilson said: "Even though the HRC Act does have a provision I think, in order to stress the importance [of equality] that its own piece of legislation would allow for it to be further embraced in our society."