US$400 million marina, hotel.
US$400 MILLION MARINA, HOTEL. The struggling economy of the
southern Pacific port town of Golfito is scheduled for an injection of
foreign capital with a planned US$400 million marina and hotel project,
reports The Tico Times (June 25-July, 2004). Marvin Jaen, executive
director of the project, says it would create 1,000 new jobs and open
the doors of supporting businesses for an estimated 2,500 additional
"indirect" employment opportunities. Such an investment could
alleviate the economic depression that the town of 36,000 people has
experienced for years, according to the project director and local
government officials. The first phase of the 10-year, two-phase project,
planned for construction next year, includes a 217-slip marina and a
hotel of 100-150 rooms, with a projected price tag of US$50 million,
Jaen said. Jaen and the project publicity manager, James Lynskey, head
Hacienda El Dorado S.A., the Costa Rican company that has attracted U.S.
investors to pony up the money. Jaen said they have Florida-based
Coastal Systems International on board as well as a group of private
investors, although they are still seeking additional funding.