About Us

The Grand Bahama Port Authority, Limited

In Freeport, city management and economic development are the mandates of a private corporation, The Grand Bahama Port Authority, Limited (GBPA). The GBPA is responsible for promoting and regulating all commercial and residential development within the 230 square mile 'Port Area' of Grand Bahama.

During the early 1950s American investor, Wallace Groves, and British financier, Sir Charles Hayward pioneered development on Grand Bahama Island. Their vision for development led to negotiations with the Government of The Bahamas and the signing of the Hawksbill Creek Agreement. The Agreement, executed on August 4th, 1955, created, the 'Port Area', and gave birth to the City of Freeport.

The agreement required the dredging of a deep-water harbor at Hawksbill Creek in the western sector of the Port Area. It also granted to GBPA responsibility for the provision, management, and administration of all infrastructure, municipal and community services, and for development of 50,000 acres of crown grant. This was subsequently extended to 170,000 acres and forms the modern day 'Port Area'.

The agreement also conveyed to the area the legacy of a "free port" with substantial tax concessions for financial, commercial and industrial enterprises. These concessions include:

1. Exemption from Customs duties for the importation of goods into the Port Area other than for personal use: (b)
2. Exemption from personal property taxes or rates, capital levies or gains taxes and real property (land) taxes until 2015;
3. Exemption from income taxes, excise taxes, certain export taxes and stamp duties on certain transactions for the duration of the Agreement, that is until 2054.

The guarantee of these rights until 2054 distinguishes Freeport, Grand Bahama, as a business centre with unsurpassed competitive advantages within the region.