New Growth Announcements This Week....

This week, a couple of announcements were made that are sure to be beneficial for the country of Panama.  

First, next year, there will be a highway opened that connects Colon to Panama City.  This will provide a number of new jobs - most likely in the tourism trade - for locals in Colon.  There are also cruise lines that are signing up to use Colon as a base.  

Secondly, Chevron has announced that it plans to double its storage capacity at Las Minas, immediately outside of Colon.  The company has already invested $13 million in order to raise the capacity to over 2 million barrels at the facility, and future growth is anticipated.  The reasoning for the expansion is due to the increasing number of vessels utilizing the Panama Canal.  

These growth plans will do nothing but grant continued economic development and security to the area.  Are you thinking about retiring or moving to Panama?  Visit us at www.panama-land-for-sale.com to view our properties for sale and to read more information about living in Panama!