Good afternoon, Premier, Minister Burch and our guests from Google who are joining us here, and all who are watching this press conference. Thank you for joining us today for this important announcement.  

It is with great pleasure that I stand before you to announce a significant milestone in Bermuda's journey to becoming a premier communications and digital hub in the Atlantic. Today, the Government of Bermuda will officially sign a land lease agreement with Google, paving the way for the development of the Nuvem transatlantic cable project.

This agreement marks the culmination of extensive collaboration between the Government of Bermuda, the Bermuda Land Management Corporation, and Google. The Nuvem cable, aptly named after the Portuguese word for "cloud," will connect the United States with Portugal, with dual landing points in Bermuda at Devonshire Bay and Annie's Bay in St. David’s.

This initiative stems directly from the bill I tabled in 2019 that subsequently became the Submarine Communications Cables Act 2020, legislation that established Bermuda as a strategic submarine fibre optic cable corridor. This Act provides a clear, efficient regulatory framework that has made Bermuda an attractive location for global tech giants like Google.

The Nuvem cable is more than just an infrastructure project; it is a transformative development that will:

• Establish Bermuda as a key mid-Atlantic communications hub, enhancing connectivity between Europe and the Americas and reducing communication latency.

• Attract other major players in the communications industry, positioning Bermuda as a prime destination for technological investment.

• Provide critical redundancy for Bermuda's existing submarine cable network, ensuring robust and reliable connectivity.

The economic and social benefits to Bermuda are substantial. The construction of a major cable landing station will not only generate significant economic activity through land acquisition and infrastructure development but also create employment opportunities for Bermudians. These include direct positions within the cable landing station and ancillary roles within the burgeoning technology hub that will emerge.

Furthermore, this project will stimulate growth in ancillary industries, from construction and engineering to technology services and support. It will create opportunities for local businesses to engage in the supply chain, fostering entrepreneurship and innovation within Bermuda. The ripple effect of this development will touch various sectors, including education, where partnerships with Google can lead to enhanced STEM programs and tech-driven curriculum advancements in our schools.

Moreover, Google’s commitment extends beyond infrastructure. They will provide training opportunities for Bermudians, support sustainability initiatives, and contribute to community development projects. This partnership signifies a 25 to 40-year commitment from Google, reflecting their confidence in Bermuda as a stable and strategic partner.

I want to take this opportunity to recognize the invaluable contributions of Ms. Fiona Beck, whose expertise and dedication have been instrumental in fostering this relationship between Bermuda and Google.

In conclusion, this land lease agreement is not just about laying cables; it is about laying the foundation for Bermuda's future as a digital powerhouse in the Atlantic. We welcome Google’s investment and look forward to a long, prosperous partnership that will benefit Bermuda for generations to come.

Thank you.