The President of the Regional Government opened the Terceira Multisectoral Park last Sunday, an investment of about nine million euros. On the occasion, he stressed that this island has been considered "one of the main pillars" of the economic recovery registered in various sectors throughout the Region.
 
"Besides the amount of public investment, it is also important to mention that Terceira has contributed to the good economic and social indicators recorded in the Region, being one of the main pillars of regional development," stated Vasco Cordeiro.
 
At the opening of the new infrastructures, located in Angra do Heroísmo, the President of the Government pointed out the example of Tourism, adding that the island of Terceira registered last year a growth in the number of overnight stays higher than 11 percent and of almost 14 in overall revenue.
 
"If we refine the analysis without limiting it to traditional hotels, Terceira was the island that grew the most in local accommodation units in 2017, registering a growth of 151% in the number of overnight stays and of almost 200% in the number of guests," said Vasco Cordeiro. As he also revealed, the tourist occupation rate went from 28.6% to 34.3%.
 
Also in the tourism sector, the President of the Government pointed out that Terceira registers a seasonality rate of only 49.4%, quite below the regional average seasonality, which is still at 54.1%. The good results are LARGELY due to the strong "commitment of the Azorean Government in the flight operations from Spain and the USA throughout the year. They have provided a very important contribution to the economy of the island and the Region."
 
"However, Tourism is not sole driving force to boost the development and progress of Terceira Island. This is evidenced if we look at the growth of wealth generation based on the latest official data," said Vasco Cordeiro. He noted that the most recent official data indicate that, in 2015, Terceira was one of the islands where the GDP grew above the regional average, standing at 6.0%.
 
Given these official data, the President of the Government stressed that it is clear that there is a new economic cycle and a new time of growth in the Azores, where dynamics, confidence and economic recovery go well beyond the tourism sector.
 
"We verify that this climate of recovery, as well as the good results in various sectors, are visible on all islands. In the context of the public policies we have pursued in times of crisis and recession, their results are by themselves a factor in regional cohesion and development, despite not being homogeneous," stated Vasco Cordeiro.
 
The President of the Government recalled that, in addition to the difficulties caused by the economic and social crisis, the island of Terceira also felt the negative effects arising from the resizing of US military presence. In this regard, he added that GDP data also evidence the "success and merit of the strategy followed by the Regional Government." According to this indicator, this island has not only managed to contain and reverse the negative effects, but also turned them into growth opportunities.
 
"This also demonstrates that, after all, the Economic Revitalisation for Terceira Island, which some have despised, vilified and criticised, has it merits. Under no circumstance should the lazy and ignorant criticisms, the yielding of principles and conscience for 30 seconds of vain media attention or the discouragement prevail over the persistent and determined efforts undertaken by the Regional Government. It will also continue working in this area in partnership with private and public entities," said the government official.
 
At the opening of the Multisectoral Park, Vasco Cordeiro pointed out that this work was long claimed by the island's economic agents and it was necessary to improvement the conditions for holding major exhibition events in a wide range of sectors.
 
"We are facing a modern and quality multipurpose space, which will allow the organisation of large fairs, exhibitions and other events, providing a good business opportunity for the economy of Terceira Island and, consequential, to regional economy," stressed Vasco Cordeiro.
 
"This infrastructure is first and foremost at the service of private initiative and associations. It will contribute - I believe we all hope - to consolidate the good economic indicators that are currently registered in the Azores, also due to proactive action of our entrepreneurs," said Vasco Cordeiro.
 
Despite the broad range of sectors under the scope of the Multisectoral Park, its close link to Agriculture is undeniable, especially due to the contribution of agricultural sector, in its various aspects, to the Region's economy.
 
In this context, Vasco Cordeiro pointed out that, under the current Community support framework, through PRORURAL+, 430 applications have already been approved for support to the modernisation of farms, corresponding to a private investment of nearly 40 million Euros.
 
"If the dynamics, confidence and entrepreneurial skills stand out from the implementation of these incentives in the agricultural sector, the same happens in sectors other than agriculture and fisheries through COMPETIR +, a support scheme primarily directed to private investment," said the President of the Government.
 
In the first three years of implementation of this public support scheme for private investment, 860 were already approved, corresponding to more than 367 million Euros of private investment.
 
According to him, these and other good economic indicators registered in various sectors are reflected, for example, on a consistent reduction of unemployment over recent times. They allow us to say that the Region has already overcome the worst consequences of the external crisis and that the Region is recovering well in all economic sectors in a sustainable manner, despite the many challenges that still exist in several areas.
 
"Bearing this goal in mind, the Azorean Government places investments like this one at the service of the Azoreans to promote, on the one hand, the regional economy and, on the other hand, contribute to territorial and social cohesion within our Region, " stressed Vasco Cordeiro. In this regard, he ensured that direct regional public investment on Terceira Island over the last five years surpasses 60 million Euros in investments already concluded or in the process of being implemented in the most varied areas.
 
Vasco Cordeiro pointed out, as examples, the new Angra do Heroísmo Public Library and Archives, the expansion and construction of new daycare centres, kindergartens, elderly homes and day centres, the interventions carried out in several streams and the rehabilitation of degraded housing. Moreover, he mentioned the new Science and Technology Park - TERINOV, the intervention in Terceira slaughterhouse or the beginning of the process to recover approximately 400 houses used by American military force, which will become a key lever in attracting private business projects.
 
"These investments add up to the investment in the new cargo terminal at Lajes airport. Although the Regional Government had already launched the public tender for its construction in the previous term, the National Government only concluded the process for the withdrawal of land from military public domain 15 days ago, as it was publicly announced," said Vasco Cordeiro.
 
In addition to the multipurpose pavilion with a covered area of 6,200 square metres, the Terceira Multisectoral Park includes support areas, a central alley, a car park with capacity for more than 200 vehicles, a space for the weekly agricultural market, a restaurant and the so-called Association Building. It will house the offices of the following associations: Azores Agricultural Federation, Terceira Young Farmers' Associations, Beef Cattle Breeders' Association of Terceira Island, Aberdeen-Angus Cattle Breeders' Association and BioAzórica Cooperative.