Nation e-Edition

Megastore good for local economy

Cost-U-Less vice-president and general manager Tom Kallio (left) and Dan McConnell, VP of real estate and store development, reacting to the concessions given by Government. (Picture by Ricardo Leacock.)

Mon, January 14, 2013 - 12:06 AM

The establishment of megastore Cost-U-Less in Barbados will benefit the local economy, Tom Kallio, vice-president and general manager of the North American-based retailer, has said.

Furthermore, he said the concessions granted the company were made to attract foreign investment and that was what they brought here.

Kallio was responding to a claim made by Opposition Leader Owen Arthur that the concessions given by the Ministry of Finance were “extraordinary and outrageous”.

Arthur said the tax relief granted would likely give the retailer an unfair advantage over similar businesses in the distributive retail sector and “put people’s jobs at peril”.

Kallio said that in addition to getting the concessions for the construction of the facility at Welches, St Thomas, they chose to invest in the island because of a “skilled labour force and the state of the economy”. (MM)

Please read the full story in today’s DAILY NATION, or in the eNATION edition.

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Page 1 of 1 pages

Posted by Jay Tee 1 year, 9 months ago
Utter 'Bunk!'. "Kaching kaching
is all they are about!! Just like Coopers and all the others that after the 'perks' are finished, they too are, and abandon the island!!

  • 5
Posted by Tony Waterman 1 year, 9 months ago
Here we go AGAIN, ANOTHER Big Shot North American (American) Telling us LITTLE FOLKS what will be GOOD for us, and neglecting to tell us that the PROFITS WILL NOT STAY IN BARBADOS although they have APPARENTLY been granted (GIVEN) CONSIDERABLE Tax and Customs CONCESSIONS, again APPARENTLY Better than even some of the Locals who have opened Businesses where the PROFITS stay in Barbados. NOW!!! if this is, and presumably it is from the photo of the Building i saw, your BOX STORE TYPE SETUP (Walmart Style) i can't see them offering up a lot of employment. BARBADIANS YOU SHOULD BE WARY COST YOU LESS MIGHT COST YOU MORE.
QUESTION:_ anyone can answer!!!! Is there a set Protocol for Giving Concessions, or is it Willy Nilly and at the Minister's Discression??????

  • 0
Posted by Tony Waterman 1 year, 9 months ago
Here we go AGAIN, some Big Shot North American (American) this time

  • 7
Posted by Bim Bum 1 year, 9 months ago
Excuse me, but one doesn't put down a whole chunk of plant & equipment
to blithely Up and Run, in a year or two!

These people are here to stay: much like PriceSmart, who are here now for well over ten years now!
It's called COMMITMENT.

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Posted by Tony Waterman 1 year, 9 months ago
sorry that some of my comment seems to be floating somewhere out there in the virtual realm,so please allow me to continue.
Here we go AGAIN, some Big Shot North American (American) this time telling us how great their Enterprise will be for our Economy, nothing about how many people will be PERMANANTLY employed by them, how much will they be sourcing from LOCAL producers, after the sweeeet deal that they got from the government, a deal that has never been offered to anyone local who was opening a business, they have apparently been given a longer tax break period than usual, and concessions from customs duties etc. and of course their profits will never reside in Barbados, so i cant really see how they will be benefiting our economy,but Mr.Sinckler and Company must have better eyes that i do.we must also have to wait and see that with all these CONCESSIOINS, how much "LESS" shopping with them will COST YOU.
When IN Barbados,I will stick to POPULAR it,s right at the top of Spooners Hill and my Road Bush Hall.

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