Atlantis residents and stakeholders are urged to support the Special Economic Zone (SEZ) designation to boost investment and job creation.
The notice to designate a land area of 124,5 hectares in the Atlantis industrial area, as an SEZ was published in the Government Gazette on Friday, members of the public now have 30 days to submit their comments or objections to the Department of Trade and Industry (DTI).
After the 30-day period, questions and answers on this application will be reviewed and finally submitted to Minister of Trade and Industry Rob Davies to table at cabinet.
“The declaration of Atlantis as an SEZ is a declaration to the people of Atlantis that government is serious about economic, social development and job creation in the area,” said MEC of Economic Opportunities Alan Winde.
Winde called on residents to support the designation and submit their comments to the DTI so government can continue to make progress possible and create even more jobs.
In 2012, the City of Cape Town developed a way to bring jobs back to the area through its Atlantis Revitalisation Strategy.
The City identified an opportunity to establish a GreenTech hub that would tap into growing global GreenTech market opportunities while addressing unemployment challenges in Atlantis.
Based on that vision, the City designed a land disposal process for GreenTech that took into account investor requirements, particularly being able to access land swiftly.
To date, the City’s efforts towards its vision for a GreenTech hub include providing land as a GreenTech industrial park, to support the revitalisation of Atlantis as a strategic development node, and providing financial and non-financial incentives for investors.
Some of the incentives provided by the City to attract investment includes fast-tracking land use and building plans, a reduced electricity tariff, providing exemption from application fees for land and building plans and debt write offs to businesses that meet employment targets.
“By 2016, the total uptake of non-financial incentives was 1 039, and over R40 million worth of financial incentives since 2013,” said Winde. The uptake in the electricity tariff subsidy in Atlantis remains the most significant, supporting business retention with 1 450 job opportunities retained.
Atlantis has already attracted major investment to the tune of R680 million, while the revival expected in the area as a result of the SEZ status will present massive opportunities for companies who invest in the area. GreenCape has engaged many stakeholders along the way in Atlantis and across the country.
The area is poised for great success, with a range of additional incentives, for investors once SEZ is officially declared.
Some of the investment to date includes:
- five investors that are operational in the proposed zone (totalling approximately R680 m in investment)
- two further investors that are in advanced stages of negotiation with the City to lease the land;
- R1,8bn in investment anticipated before 2022 creating about 1 200 direct jobs.
Chief Executive Officer of GreenCape, Mike Mulcahy, said: “GreenCape will continue to focus on helping GreenTech manufacturing companies invest and establish in Atlantis — creating sustainable, future proof jobs.”
