HAWKSBILL CREEK AGREEMENT PDF

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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September Learn how and when to remove this template message. If the exemptions are not extended, major business licencees would be subject to pay real property tax, which is one per cent per cfeek of the market value of the property.

More like this story The Hawksbill agreement – and its importance to Grand Bahama.

He said that bonded vehicles by private companies and hotels are not only being used for company business, agreemen also being used for transportation of visitors. Comments Use the comment form below to begin a discussion about this content.

Hawksbill Creek Agreement

Views Read Edit View history. These significant infrastructural developments, along with the tax-free concessions in the agreement, helped to attract major industries to the island.

To encourage investment, the agreement allowed the port authority not to pay taxes on incomecapital gainsreal estateand agreemenh property until —a provision that extended the agreement a further 49 years.

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The Hawksbill Creek Agreement [1] 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. The Tribune Jump to content.

Early developers started with the dredging of a deep water harbour, and construction of an airport and roads. Sign in to comment Username I have an account. From Wikipedia, the free encyclopedia. Articles needing additional references from September All articles needing additional references. 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.

Hawksbill Creek Agreement – Wikipedia

This article needs additional citations for verification. Reaction and analysis, see Business.

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 Grand Bahama Port Authority was created to develop and administer the land and thus the city of Freeport was planned and built from scratch.

This has since been extended to Retrieved from ” https: Unsourced material may be challenged and removed.

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Hawksbill Creek Agreement Given Six-Month Extension for Further Analysis

This page was last edited on yawksbill Aprilat The government has to decide whether to extend these exemptions. 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.

Password Confirm password Email. Today, the port facilities have significantly expanded at the harbour with the construction of a container port and a shipyard. The industrial park area consists of major developments including as an oil storage terminal and refinery, plastics and pharmaceutical plants. By using this site, you agree to the Terms of Use and Privacy Policy.

Please hwksbill improve this article by adding citations to reliable sources. It appointed a special committee to review the HCA and to make recommendations for the further economic development of Freeport. As of Thursday, July 23, We took issue with it and have asked that all public transportation franchise be put solely in the hands of the government.