Prime Minister, Dr. the Most Hon. Andrew Holness, cuts the ribbon at the official opening of Phase One of the Garmex Freezone Redevelopment and Expansion Project in Kingston.
“Another bold new chapter in Jamaica’s industrial journey”, is the description given by Prime Minister, Dr. the Most Hon. Andrew Holness, to Phase One of the Garmex Freezone Redevelopment and Expansion Project, during the official opening of the complex at its Industrial Terrace location in Kingston today (June 23, 2025).
Developed by the Factories Corporation of Jamaica (FCJ), Phase One of the project delivered approximately 126,000 square feet of new industrial space across 17 enterprises in multiple sectors including mini warehouses and micro businesses, at a cost of $1.1 billion.
“The real achievement is that this was fully funded from the resources of the FCJ. There was no borrowing to do this. That is prudent public financial management which leads to smart and sustainable development”, he stated.
The Prime Minister further noted that in just over two years since the new facilities became operational, they have generated more than $340 million in rental income and these revenues will be reinvested to finance additional phases of expansion.
The opening ceremony and ribbon cutting, was also the launching pad for Phases 2 and 3 of the redevelopment project, which together will represent nearly half a million square feet of new commercial and industrial space.
Prime Minister Holness said Phase 2 at an estimated cost of $3.2 Billion, will feature a new Marcus Garvey Drive entrance, and a new headquarters for the FCJ. It will also include multi-level warehouse building and a modern high rise commercial complex.
The Prime Minister further noted that in addition to the spaces allocated for food outlets, medical centres, banking and other facilities required for modern light manufacturing and small business enterprises, the Government is also seeking to develop the area to accommodate technology firms.
“So phase 3 will see the transformation of 5.7 acres of vacant greenfield land into 150,000 square feet of productive space at a cost of $1.5 billion. I am pleased to report that contracts have already been signed, and work is well underway, with an initial investment of $240 million. These 2 phases combined are projected to create up to 400 jobs in the construction phase and as many as 3000 new permanent jobs across the campus over the next 5 years”, he explained.
Dr Holness said the Garmex Project reflects “the government’s economic strategy in action”, noting that what is being built is “the infrastructure of prosperity”.
“There is a great push for near shoring and friendly shoring and a rethink of where the manufacturing capabilities of the world should exist. Jamaica should not wait until investors are knocking on our door to say we want to come and locate here. We have to build here and wave frantically and say hey, we have facilities, capabilities and the necessary fiscal framework”, the Prime Minister said.
Established in 1976, Garmex has evolved from a warehousing and trans-shipment facility into the “most diverse Freezone in Jamaica and the largest commercial industrial complex on the island”. The redevelopment project is a direct response to the growing demand for commercial and industrial space and is designed to transform the complex into a vibrant Special Economic Zone.