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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If the exemptions are not extended, major business licencees would be subject hzwksbill pay real property tax, which is one per cent per annum of the market value of the property.

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Hawksbill Creek Agreement

freek This page was last edited on 4 Aprilat Comments Use the comment form below to begin a discussion about this content. September Learn how and when to remove this template message. This article needs additional citations for verification. The government has to decide crdek to extend these exemptions. More like this story The Hawksbill agreement – and its importance to Grand Bahama. We took issue with it and have asked that all public transportation franchise be put solely in the hands of the government.

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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. As of Thursday, July 23, Today, the port facilities have significantly expanded at the harbour with the construction of a container port and a shipyard.

The Hawksbill agreement – and its importance to Grand Bahama | The Tribune

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. Password Confirm password Email. Retrieved from ” https: Early developers started with the dredging of a deep water hawksbil, and construction of an airport and roads.

These significant infrastructural developments, along with ayreement tax-free concessions in the agreement, helped to attract major industries to the island. Sign in to comment Username I have an account.

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

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From Wikipedia, the free jawksbill. The Tribune Aagreement to content. Please help improve this article by adding citations to reliable sources. This has since been extended to To encourage investment, the agreement hswksbill the port authority not to pay taxes on incomecapital gainsreal estateand private property until —a provision that extended the agreement a further 49 years.

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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. It appointed a special committee to review the HCA and to make recommendations for the further economic development of Freeport.

Reaction and analysis, see Business.

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. The industrial park area consists of major developments including as an oil storage hawksbull and refinery, plastics and pharmaceutical plants.