potential of the former United States Naval Air Station, which was tuned over to Bermuda today.

With Front Street already sewn up and the North of Hamilton in the midst of its own development phase, the USNAS lands -- which encompass some 1,040 acres and between 250 to 300 buildings, although 450 are earmarked for development -- present a prime opportunity for entrepreneurs.

Mr. David Rowntree, vice president of the Hamilton Chamber of Commerce and chairman of its St. George's committee, said there were plenty of opportunities at the former East End base.

"I have not seen any of the reports or any of the surveys that have been done or the outcome of any of the planning groups that have been working up there,'' he said. "So the actual business ideas that they have come up with I do not know.

"But I do know there are many opportunities but only those that come up with the best ideas will be given the opportunity to prove them.'' Mr. Rowntree said he was not aware of all the details regarding the bases, but he said the Chamber was positive overall about the new lands returning to Bermuda because it was a potential asset to the St. George's community in particular and Bermuda in general.

At an afternoon press conference, Finance Minister the Hon. Grant Gibbons who is also responsible for the Bases, said that about 100 to 200 development proposals had been received, and more were coming in.

But for some areas, like light industry at the US Naval Air Station, the Bermuda Land Development Corporation announced yesterday might want to go out and solicit proposals, he said.

Furthermore, he said Government had received a lot of applications for things like warehouse space and small commercial businesses.

Moreover, he said there were quite a few overseas applications for things like assembly of finished products, high-tech industry, and telecommunications and "intellectual property''.

However, a Government spokesman said the Base lands would be governed by Government's land use strategy.

He said Government looked at the land from the perspective of community needs, Government requirements to earn an income from the land, potential new business and tourism.

Consequently, he pointed out that there was ample scope within those boundaries for enterprising businessmen and women to move in.

"How these proposals will be executed has not been decided yet,'' the spokesman said. "But Government's first priority is security so that we can protect the Base lands from vandals.

"Next comes a massive infrastructural upgrade of the Base's electrical system and the airport lighting.

"Government's first priority is to establish a presence at the Base and then it can open up the lands to the public in phases and consider all the proposals.''