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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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.
The Hawksbill agreement – and its importance to Grand Bahama | The Tribune
Reaction and analysis, see Business. From Wikipedia, the free encyclopedia. This article needs additional citations for verification.
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Hawksbill Creek Agreement Given Six-Month Extension for Further Analysis
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.
It appointed a special committee to review the HCA and to make recommendations for the further economic development of Freeport.
Grand Bahama Taxi Union president David Jones said the HCA has been beneficial for hundreds of cab drivers in Freeport, and feels that government should extend the exemptions. Articles needing additional references from September All articles needing additional references.
Views Read Edit View history. Early developers started with the dredging of a deep water harbour, and construction of an airport and roads.
Hawksbill Creek Agreement
This has since been extended to As of Thursday, July 23, Sign in to comment Username I have an account. The government has to decide whether to extend these exemptions.
Unsourced material may be challenged and removed. He said that ahreement vehicles by private companies and hotels are not only being used for company business, but also being used for transportation of visitors.
Hawksbill Creek Agreement | Bahamian history |
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. Please help improve this article by adding citations to reliable sources. Today, the port facilities have significantly expanded at the harbour with the construction of a container port and a shipyard. More like this story The Hawksbill agreement – and its importance to Grand Bahama.
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.
Comments Use the comment form below to begin a discussion about this content. September Learn how and when to remove this template message. The Grand Bahama Port Authority was created to develop and administer the land avreement thus the city of Freeport was planned and built from scratch. Password Confirm password Email.
The industrial park area consists of major developments including as an oil storage terminal and refinery, plastics and pharmaceutical plants.
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 agreeement of spurring economic development in the area.