Swan Pyro Limited was the first local company to receive duty relief on equipment and other materials used to operate the fireworks company that launched in 2019.

An entrepreneur who organizes fireworks and pyrotechnics displays was singled out as a bright light in the business world.

Kyle Swan, founder of Swan Pryo, was congratulated by Junior Minister of Tourism Kim Swan for running the first company to be granted a five year tax break on the import of goods under the Tourism Investment Act.

In the House of Assembly on Friday, MP Swan said the Investment Order for the company says it operates in the interest of Bermuda, providing traditional fireworks displays, special effects and advanced pyrotechnics features.

Mr Swan also takes an environmentally conscious approach to his displays.

Swan Pyro was granted five years of full relief from customs duty on equipment, goods and supplies imported to the island. The move was backed by Craig Cannonier, Shadow Minister of Tourism.

Swan Pyro’s work will feature at Saturday’s Boat Parade in the Hamilton Harbour.

Lt. Col. David Burch, the Public Works Minister said the key to addressing Bermuda’s housing problem is to continue seeking new sites to redevelop as it will not be solved overnight.

Some 200 people remain on the Bermuda Housing Corporation’s waitlist and will be housed based on their level of need.  

Renters will be charged between $1,100 to $1,600 per month for one bedroom or studio apartments at Harmony Hall in Paget, the former hotel.

Clients are responsible for furnishing and monthly utility bills. 

During an exclusive site visit Lt. Col. David Burch, the Public Works Minister said the demand for affordable housing has never been higher. 

Contract work on each unit here can take on average of nine months to refit from start to finish.  

Minister Burch contends these additional 12 units are only scratching the surface in a much larger challenge of increasing overall housing inventory and a race against time. 

The need to find adequate housing stock to relieve pressure in the market, Minister Burch and his team have flagged another impediment stemming from bureaucracy at the Department of Planning reportedly delaying approvals.

There was a public outcry following the decision to transition the Bermudiana Resort complex into rental units on South Shore Road. It was based on a business model to address the demands of the local housing market.  

Some shared concerns that affordable housing clients and ordinary renters could drive the quality of living down, a claim dismissed by the Minister.  

The BHC said they re-fitted each unit near identically to keep costs down by purchasing fixtures for repairs in bulk.  

The Minister said it’s another strategy by the government find new ways of streamlining affordable housing projects.