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Freeport is a city, district and free trade zone on the island of Grand Bahama of the northwest part of The Bahamas.In 1955, Wallace Groves, a Virginian financier with lumber interests in Grand Bahama, was granted 20,000 hectares (50,000 acres) of pineyard with substantial areas of swamp and scrubland by the Bahamian government with a mandate to economically develop the area.
The Bahamas is a island country in the West Atlantic Ocean consisting of 700 coral islands, of which 30 are inhabited. [1] The tourism industry is a significant sector of the Bahamian economy. In 2021, it was estimated that tourism accounted for 45% of the Bahamas's national gross domestic product. [2]
The Rand Nature Centre is a national park in Freeport, Grand Bahama, the Bahamas. The park was established in 1992 and has an area of 100 acres (40 ha). The park was established in 1992 and has an area of 100 acres (40 ha).
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Stafford Sands was a lawyer who, from 1946, represented Wallace Groves and other Americans who sought to establish casinos, resorts, free-trade areas, and other developments in the islands, primarily at Freeport on largely undeveloped Grand Bahama island. [3]
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. To encourage investment, the agreement allowed the port authority not to pay taxes on income , capital gains , real estate , and private property until 1985—a provision that extended the agreement a ...
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