Finance Minister Paula Cox’s announcement last week on the incentives that will be given to businesses in Northeast Hamilton is welcome, and a step in the right direction to encourage development in the area and to widen the benefits of business ownership.

This move is important on a number of levels.

First, it should expand development into an area of Hamilton — the area bordered by Parliament Street, North Street, King Street and Victoria Street to the south — that has traditionally been neglected and to some extent has been a no go area.

As Bermuda’s population grows and changes, there will be a need for more efficient use of land within the city limits, both to prevent the sprawl of offices and condominiums on the waterfront and surrounding areas of Hamilton and to encourage more residential living.

Northeast Hamilton, still better known as Back of Town, is also predominantly black, and it is reasonable to expect that the businesses and property owners who would benefit from this scheme are black.

To the extent that the tax breaks and so on will benefit black businesses and individuals, that is all to the good as it should narrow the wealth gap between blacks and whites.

That is not to say — and there has been no mention of this by Ms Cox or anyone else — that white-owned businesses or properties will not benefit as well, and that is quite correct.

A rising tide should raise all boats and if white capital is used to rejuvenate the area, then that should benefit all concerned.

Having said that, it is to be hoped that limits are placed on the tax benefits that are being awarded, It would be wrong and unfair for these kinds of benefits to become permanent to the businesses that are established elsewhere.

Equally, there should be some effort to preserve some of the very fine architecture in the area. Because past governments have failed to list Hamilton buildings for preservation, all of Hamilton’s historic properties — and heritage — is at risk.

Because this area of Hamilton has been neglected, it is by extension the only area that has a concentration of Bermuda vernacular remaining, and an effort ought to be made to preserve buildings of particular architectural or historical importance.

Of course, this carries with it a certain unfairness to which owners of listed buildings outside are already subjected.

In the case of North Hamilton, this will carry with it the further notion that it is racially motivated. For that reason, compensation, either for the surrender of air rights or through a land tax break should be considered.

Of course, Government is already talking about converting Court Street into the equivalent of Bourbon Street in New Orleans, and this puts a premium on the architectural preservation of some Court street buildings.

Finally, no amount of empowerment in the area will work unless safety levels are improved. There has already been some progress in this direction with the installation of CCTV cameras and a heightened Police presence.

More needs to be done, and it is important that the community’s leaders — including the Bermuda Against Narcotics group, who have sadly gone quiet in recent months — take a major role in this.

Indeed, it is essential that businesses and residents of the area be deeply involved in the empowerment zone. Government can provide the framework and incentives, but it will only work if the people of the area take it up.