FREEPORT would not be in existence without the Hawksbill Creek Agreement, which has given rise to major infrastructural and investment. The prime minister’s communication made on March 3 to the House of Assembly on the status of the Hawksbill Creek Agreement is, in many. To put this matter into proper historical context, the Hawksbill Creek Agreement ( HCA) in envisaged that these particular concessions.
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Grand Bahama Chamber of Commerce President Kevin Seymour said a number of their members are worried about the agreement lapsing and whether the government will extend those exemptions. More like this story The Hawksbill agreement – and its importance to Grand Bahama.
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Hawksbill Creek Agreement Given Six-Month Extension for Further Analysis
Retrieved from ” https: We took issue with it and have asked that all public transportation franchise be put solely in the hands of the government. Password Confirm password Email. To encourage investment, the agreement allowed the port authority not to pay taxes on incomecapital gainsreal estateand private property until —a provision that extended the agreement a further 49 years. There are 3, business licencees in Freeport but some of the tax exemptions in the HCA for those licencees are set to expire early next month — including real property tax and business licence fees.
Views Read Edit View history. The Tribune Jump to content. It appointed a special committee to review the HCA and to make recommendations for the further economic development of Freeport.
Comments Use the comment form below to begin a discussion about this content. The government has to decide whether to extend these exemptions. Grand Hawksbill Taxi Union president David Jones said the HCA has been beneficial for hundreds of cab drivers in Freeport, and feels that argeement should extend the exemptions.
Today, the port facilities have significantly expanded at the harbour with the construction of a container port and a shipyard. Early developers started with the dredging of a deep water harbour, and construction of an airport and roads. Unsourced material may be challenged agreemeng removed.
The Grand Bahama Port Authority was created to develop and administer the land and thus the city of Freeport was planned and built from scratch. Crrek and analysis, see Business.
He said that bonded vehicles by private companies and hotels are not only being used for company business, but also being used for transportation of visitors.
This page was last edited on 4 Aprilat If the exemptions are not extended, major business licencees would be subject to pay real property tax, which is one per cent per annum of the market value of the property. The Hawksbill Creek Agreement  was an agreement signed in between the government of the Bahamas and Wallace Groves to establish a city and free trade zone on Grand Bahama Island with an aim of spurring economic development in the area.
Hawksbill Creek Agreement | Bahamian history |
Articles needing additional references from September All articles needing additional references. This has since been extended to The industrial park area consists of major developments including as an oil storage terminal and refinery, plastics and pharmaceutical plants.
September Learn how and when to remove this template message. These significant infrastructural developments, along with the tax-free concessions in the agreement, helped to attract major industries to the island. From Wikipedia, the free encyclopedia.