On July 8, 2010, the Governor of the Bank of Israel Stanley Fischer and the Minister of Industry Trade & Labor Benyamin Ben-Eliezer will begin a groundbreaking ceremony for the new Nazareth Industrial Park. Israeli industrialist Stef Wertheimer conceived of and is funding this initiative, which is designed to serve the mainly Arab community of Nazareth and its neighboring areas.
The park, which confers the benefits of National Development Area A, will include a mix of new and established export industries. Ultimately, it will be home to 20-25 export-oriented firms and is expected to provide between 500-1,000 jobs in the next decade.
Like Wertheimer’s other parks, it will be a good neighbor, ensuring not only clean industry, but also a place for the local community to gather occasionally for special events. It will be located on a site where Pope Benedict XVI's helicopter landed in May 2009 just below Mt. Precipice.
Ramiz Jeraisi, who has served as Nazareth's mayor since 1994, has endorsed this initiative. Directing the project is Shawki Khatib, former mayor of the nearby village of Yafiah and current head of the National Committee for Arab Mayors. His immediate aim is to bring new industries to the park once it is completed.
A number of local businesses have already expressed interest in relocating some or all of their operations to the new industrial park. Russell Ellwanger, CEO of Tower Semiconductor, is considering establishing a design operation there. Imad Younis, the President of Alpha Omega - a firm that manufactures precision instruments used in brain surgery - has indicated that he may relocate his operations that are now based in Nazareth Ilit. Others include Nazareth Pharmaceuticals and Galil Software.
Convinced that export-driven entrepreneurship can help to promote peace, Mr. Wertheimer has created six other industrial parks, five in Israel and one in Turkey. The Israeli parks are a vital component of the nation's economy: together with Mr. Wertheimer’s other companies, the parks’ 200 innovative export enterprises now account for about 10% of Israel's total exports. They have attracted investment from world-leading businesses, such as Rolls Royce, Pratt and Whitney, and Warren Buffett's Berkshire Hathaway. They have also served as a stabilizing force by creating jobs; training skilled workers and entrepreneurs; nurturing new export industries; uniting Jews, Arabs, and Druze in a harmonious workplace; and encouraging all sectors of Israeli society to become successful in industry.
As with the other parks, the new park in Nazareth will follow the model of Wertheimer's award-winning Tefen Industrial Park. That model includes specially designed industrial space for new companies; educational and cultural facilities; and amenities such as gated 24-hour security, dining areas, and personnel firms.