“FreeHold Free Zone” is the name of the new free trade zone that will be located in Pacuarito of Siquirres, Limon; the size of the land is 588,793 square meters and the first stage involves building out 73,000 square meters distributed between offices and commercial spaces on the outside.

According to Rogelio Douglas, CEO of Caribbean Sustainable Development Group, the environmental impact study has already been “revised and accepted” by the National Environmental Technical Secretariat (SETENA) which only requested one change to the plan “… and therefore we expect to have a green light in just a few weeks” . FreeHold Free Zone is a project of SPI Corporation and it also has the support of CINDE (Costa Rican Investment Promotion Agency) and PROCOMER (Foreign Trade Promotion Agency), it is being financed by Banco Nacional and the construction is expected to begin either in November or January.

“Tangara Village Limon”, a touristic project of approximately U.S. $30 million in investment is being planned as a mixed development project, which will include a four star hotel of 130 rooms, 48 apartments, commercial spots in an area of 3,300 square meters and other 3,600 square meters are destined to office spaces. The developer of this project, Tangara Development Group S.A., just presented the Environmental Impact Plans in order to get the approval to begin construction.

Another project that is on the works for Limon and perhaps one of the most important ones is the construction of an airport in an area of 36,000 square meters in the area of Saborio de Matina, 25 Kilometers (15.5 Miles) from Moin. The estimated cost is close to U.S. $700 million and the plan has already been presented to the government as an initiative of The MEL Group, a provider of engineering solutions for the aerospace industry with headquarters in the United Kingdom.

To this date Limon has remained the most undeveloped province of Costa Rica; with these new projects more jobs and opportunities for the locals will be available. The Costa Rica Institute of Technology (TEC) a public university specializing in engineering and science, and regarded for its high level, is already planning the opening of a new campus in the province of Limon. A lot of these new investments have to do with the construction of APM terminals and the new hydroelectric plant. Within the next five years a big change will be perceived in Limon.