FREEPORT, GRAND BAHAMA — Gold Rock owners, the Del Zotto family, said none of the administrators have met or called the principals over their plans to shutter the company and other investments on Grand Bahama, despite numerous attempts.
“As a company, we were maximizing usage of aggregate for the island’s demands. Gold Rock is not for the lack of development in Freeport, which otherwise would have seen the success of reaching the
quota on aggregate consumption per the Devonshire Agreement as it was written,” the Del Zotto statement read.
“This is solely a reflection of the economic climate the “Pink building” has created and will
continue to create under the current leadership practices in an attempt to avoid responsibility,
accountability and transparency in their actions.
“Their “non-negotiable” negotiations of less than one year’s worth of material is not acceptable to our business platform. We cannot be any clearer. Devonshire is simply the straw that broke the camel’s back.”
The statement continued: “The fact is they attempted to punish us for GBPA/DECO’s economic development failures. To be clear, there were numerous attempts to meet with the GBPA/DEVCO by Gold Rock. None of the administrators have met or called the Del Zotto family to date. The Grand Bahamians see you.”
The Del Zotto family, the principals of companies like Gold Rock, Home Design Centre and Do It Centre in Grand Bahama, announced plans last week to withdraw its investment from the island, saying it witnessed blatant disregard for the growth of the island by the Grand Bahama Port Authority over the years.
The GBPA fired back over the weekend, saying the family’s threat was a spiteful reaction to its impasse with DEVCO, the Grand Bahama Development Company, over a new agreement around Gold Rock’s access to aggregate in the Devonshire subdivision.
Prime Minister Philip Davis has since urged the Del Zotto family to resolve its disagreements with the Grand Bahama Port Authority and save jobs and services on the island.
Free National Movement Leader and Marco City MP Michael Pintard, meanwhile, said the administration must urgently intervene in the conflict because at least 130 families would be impacted by layoffs.
The Del Zotto statement read: “Other private companies watch as The GBPA paints us as villains for taking action and speaking openly. Cementing the stigma the rest of the world and investors associate with Freeport, Grand Bahama. This can only be one of two things: are their actions done on purpose or out of negligence? Regardless of the two, it is very concerning for any investor.
“Where was the GBPA’s sympathy for the affected employees and their families of the businesses that quietly exited Grand Bahama as a result of their practices and policies? We have spent a large portion of our lives right alongside the great people we work with and their families.
The Del Zotto family further claimed it has never taken a personal income from our Grand Bahama operations, and reinvested “every dollar of profit and then some”.
“This has been to support the growth of these operations,” the family said.
“Again, we will not contribute under the jurisdiction of the “Pink Building”. They were given multiple chances to meet or speak with a Del Zotto and chose not to.”
The statement added: “Our decision is a result of their own dealings, failure to be transparent, communicate and our distrust for their handling of this city. We have watched quietly for 30 years and will confidently say that we believe Grand Bahama would thrive under different administrative circumstances.
“We are not in the business of perpetuating poor business practices by tolerating their negligence
In closing, it should be known we have no “salacious” interests in anyone within the GBPA or DEVCO. We sincerely hope that was not the intended choice of words.”
