Nevis’ Performing Arts Centre Received $3 Million From SIDF

Nevis' New Performing Arts Centre

Nevis’ New Performing Arts Centre

Basseterre, St. Kitts – Nevis
June 12, 2012 (CUOPM)

The recently opened Nevis Performing Arts Centre was the recipient of a EC$3 million contribution from the Sugar Industry Diversification Foundation (SIDF), CEO, Mr. Terrence Crossman disclosed.

“The Foundation has invested in the development of the creative industry by contributing EC$3,000,000.00 in the form of a loan to the Nevis Island Assembly (NIA) to construct the newly opened Nevis Performing Arts Centre at Pinney’s Estate,” said Mr. Crossman.

He said the growth and sustainability of the new tourism industry demand that the Federation finds innovative ways to provide entertainment to visitors to its shores.

“The construction of a state of the art center for the performing arts can draw internationally renowned performers to our Federation, and open up ways to more creatively package our history and culture through dance, song and drama,” said Mr. Crossman.

“The arts and culture, treated primarily as entertainment, are gradually being viewed as sources of economic growth.  As we pursue diversification, therefore, we must explore the potential of the creative arts to generate revenues,” said Mr. Crossman.

The Sugar Industry Diversification Foundation (SIDF) has seen its asset portfolio grown from EC$17.6 million in 2007 to EC$139.8 million in 2010.

Mr. Crossman said some EC$154 million or US$ 55 million has been invested in the creation of a sustainable, diversified economy by way of grants, loans and share holdings.

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