A contract signing was held at the Office of the Prime Minister on Tuesday for the development of a new Four Seasons resort on Paradise Island.

The hotel project is set to employee over four hundred people in the construction phase and create some two hundred permanent jobs.  Prime Minister, the Hon. Philip Davis said, “these are not just numbers these are families, individuals and communities who will see their lives transformed by opportunities created by this investment but the benefits extend beyond direct employment.  The economic impact of this project will ripple throughout the economy with local supplier expect to see an infusion of at least $172 million in spending during the construction phase.”

The project is being headed by Two Roads Development and Access Industries.  Two Roads Development Managing Director, Taylor Collins told reporters, “it will have an immediate economic impact of over $300 million and over the next 20 years will have an economic impact of over three quarters of a billion dollars.

The project has an estimate value of $275 million.  It hotel will include 75 condo unit.  Groundbreaking for the project is expected before the end of this year.