Offshore financial services New financial institutions and retired professionals are major opportunities. The opening of the Canadian Imperial Bank of Commerce in 1997 will increase the number of banks to eight and expands on the various trust and other services. New banking services are urgently required to support growth in the industry. Retired professional and knowledge based firms are finding the Islands an ideal location for their business due to worldwide access through digital communication and air access. The greatest potential in these areas lies in the production of high value, value-added and specialty export products.
Efforts are underway to develop a subsea aragonite mining operation.