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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These significant infrastructural developments, along with the tax-free concessions in the agreement, helped to attract major industries to the island. It appointed a special committee to review the HCA and to make recommendations for the further economic development hwksbill Freeport.

Retrieved from ” https: Grand Bahama Taxi Haawksbill president David Jones said the HCA has been beneficial for hundreds of cab drivers in Freeport, and feels that government agreemfnt extend the exemptions. Articles needing additional references from September All articles needing additional references. Unsourced material may be challenged and removed.

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Hawksbill Creek Agreement

This page was last edited on 4 Aprilat The Tribune Jump to content. From Wikipedia, the free encyclopedia.

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By using this site, you agree to the Terms of Use and Privacy Policy. As of Thursday, July 23, This has since been extended to 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.

Comments Use the comment form below to begin a discussion about this content. Password Confirm password Email. 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

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

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. More like this story The Hawksbill agreement – and its importance to Grand Bahama. Reaction and analysis, see Business.

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The government has to decide whether to extend these exemptions. The Hawksbill Creek Agreement [1] was an agreement signed in between the government of the Bahamas and Wallace Groves to agredment a city and free trade zone on Grand Bahama Island with an aim of spurring economic development in the area. Early developers started with the dredging of a deep water harbour, creeo construction of an airport and roads. Views Read Edit View history. Today, the port facilities have significantly expanded at the harbour with the construction of a container port and a shipyard.

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This article needs additional citations for verification. The industrial park area consists of major developments including as an oil storage terminal and refinery, plastics and pharmaceutical plants.

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. 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.