Minister: Team Artemis Concession Application
The Ministry received its first concession application from the Manager of Artemis Racing Team for employment related concessions approved under the America’s Cup Act 2015, Minister of Economic Development Dr Grant Gibbons said in the House of Assembly today [May 29].
Dr Gibbons said, “In February this Honourable House debated and passed the America’s Cup Act 2015. You may recall that the Act makes provision under Part 3 for the Minister responsible for the America’s Cup to make an order subject to negative resolution procedure and requires certain considerations including whether a concession or exemption applied for is in the best interest of Bermuda.
“Earlier this month, the Ministry received its first concession application from the Manager of Artemis Racing Team for the same employment related concessions approved for the America’s Cup Event Authority and its affiliate Team Oracle under section 8 of the America’s Cup Act 2015; this includes relief from work permit fees as well as payroll tax.”
“Artemis Racing [Artemis] is the Swedish America’s Cup Challenger,” Dr Gibbons said. “Artemis has already commenced the process of setting up its team base at the Royal Naval Dockyard and moving its sailing team of 34 members to Bermuda for summer training camps.
“These members will eventually be joined by 42 family members later this year. The intention is for the team to have a presence in Bermuda from now until the Finals in June 2017.
“The team has budgeted $2 million in team accommodations costs and approximately $500K for team food/catering costs as well as a projected several million dollars of investment in infrastructure for its team base set up. Note that these amounts do not include additional discretionary spending by individual team members who will contribute significantly to our economy.
“Furthermore, Artemis is seriously considering moving its entire business and technical operation base from Alameda, California to Bermuda. This will bring approximately 30 additional employees along with their families to the island.
“To facilitate this move, Artemis will require more space than is available to the team at the Royal Naval Dockyard. They estimate that they will require up to 6 acres in order to accommodate their operational requirements. To this end, Artemis is currently considering possible venues including Morgan’s Point. Artemis is aware that Bermuda’s obligation for team base site preparation is limited to the Royal Naval Dockyard.
“As such, Bermuda will not be responsible for infrastructure support of any team base outside of the Royal Naval Dockyard. The aforementioned projected spend on island does not include costs related to moving the entire operation to Bermuda. Therefore, there is the possibility of millions of additional dollars spent in Bermuda.”
The Minister’s full statement follows below:
Mr. Speaker, in February this Honourable House debated and passed the America’s Cup Act 2015. You may recall that the Act makes provision under Part 3 for the Minister responsible for the America’s Cup to make an order subject to negative resolution procedure and requires certain considerations including whether a concession or exemption applied for is in the best interest of Bermuda.
Earlier this month, the Ministry received its first concession application from the Manager of Artemis Racing Team for the same employment related concessions approved for the America’s Cup Event Authority and its affiliate Team Oracle under section 8 of the America’s Cup Act 2015; this includes relief from work permit fees as well as payroll tax.
Mr. Speaker, Artemis Racing [Artemis] is the Swedish America’s Cup Challenger. Artemis has already commenced the process of setting up its team base at the Royal Naval Dockyard and moving its sailing team of 34 members to Bermuda for summer training camps. These members will eventually be joined by 42 family members later this year. The intention is for the team to have a presence in Bermuda from now until the Finals in June 2017.
The team has budgeted $2 million in team accommodations costs and approximately $500K for team food/catering costs as well as a projected several million dollars of investment in infrastructure for its team base set up. Note that these amounts do not include additional discretionary spending by individual team members who will contribute significantly to our economy.
Furthermore, Artemis is seriously considering moving its entire business and technical operation base from Alameda, California to Bermuda. This will bring approximately 30 additional employees along with their families to the island. To facilitate this move, Artemis will require more space than is available to the team at the Royal Naval Dockyard. They estimate that they will require up to 6 acres in order to accommodate their operational requirements.
To this end, Artemis is currently considering possible venues including Morgan’s Point. Artemis is aware that Bermuda’s obligation for team base site preparation is limited to the Royal Naval Dockyard. As such, Bermuda will not be responsible for infrastructure support of any team base outside of the Royal Naval Dockyard. The aforementioned projected spend on island does not include costs related to moving the entire operation to Bermuda. Therefore, there is the possibility of millions of additional dollars spent in Bermuda.
It is important to note that under the Event Protocol, all teams must have a presence at the Event Village at the South Basin in the Royal Naval Dockyard in early 2017. Therefore, if Artemis’ relocation proceeds, Artemis potentially will have bases in two locations in 2017 until the end of the Bermuda Events in late June 2017.
Mr. Speaker, in consideration of the likely benefit to the tourism industry and Bermuda’s economy generally, Artemis’ request for a concession order was approved and the America’s Cup Concession [Artemis Racing] Order 2015 was created and will come into operating on Gazetting.
Thank You, Mr. Speaker.
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Does this mean, Bermudians working for the team don’t have to pay, Pay Roll Tax?
I can’t and nor do others want to hear you. This is going to be a profitable event for everyone! Whether everyone wishes to believe me or not, that’s their prerogative
Well Stormin Norman, can you itemize how that is going to work, is the Blue Waters Anglers Club involved in any maritime activity, or Sandy’s Boat Club, St George’s Mini Yacht Club.
How many Blue Color workers are going to be involved in and associating at R.B.Y.C , R.H.A.D.C and their party’s other then the caterers.
Mockingjay, have the Blue Waters is a FISHING / Anglers Club! St. Georges Boat Club is for far removed from where the event is being held that one must ask why you even mention them, except to stir the pot. If the Sandys Boat Club has not reached out to them to let them know they are Welcome and wanted , well why would they spend their dollars there!
I am not a member at RBYC, RHADC, SBC, SGBC Warwick Workmans Riddells Bay, Port Royal, Belmont or any other club, although I was during my drinking days and I must say I enjoyed it. You might be surprised how easy it is to become a member at anyone of them. So if you want to party at PHADC, RBYC, SBC or anywhere else – F’n Join! I think its pretty safe to say that you are a staunch PLP member! You joined , you pay and you participate in any event or banquet they have – YES! I can’t just walk in and say I want to come to your event, why, because I am NOT A MEMBER!
NOTHING is owed to you my friend. I’m sorry if you got used to being given something for nothing during your 14 year party.
Because they will be buying their food, clothes, gas, etc, exclusively at yacht clubs, right?
Idiot.
lol… @Zevon. Hey he grows on you.
Short sighted,negative,and foolish…as usual.
The only people who are you to be “making money” from this entire event will be the people whom already have money!!! On the very odd occasion the team and their families might join a harbour night or 2 and purchase a “little something”
We should just take the money we are going to spend, cancel the AC and hand it out to those less fortunate?
All well and good, but when the money is spent, it is gone. With nothing to show for it.
Like when the PLP left office.
the BDA government makes money…so shut up and roll with it
Many still not getting it? Oh well….
SMH
This will create lots of jobs as Team Artemis personnel spend in Bermuda. Good job Minister for the foresight and intellect to help us and our economy!