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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 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 ...
In terms of gross domestic product per capita, the Bahamas is one of the richest countries in the Americas (following the United States and Canada), with an economy based on tourism and finance. [1] Tourism alone provides an estimated 45% of the gross domestic product (GDP) and employs about half the Bahamian workforce.
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The Xanadu Beach Resort & Marina, also known as the Xanadu Princess Resort & Marina, was a resort and marina on the island of Grand Bahama in the Bahamas.Built in 1968, the resort was purchased by Howard Hughes in 1972 and was for several years the most celebrated resort in the Caribbean and served as a hideaway for the Hollywood jet set of the era.
West End (also referred to as "Settlement Point" [1] [2]) is the oldest town and westernmost settlement on the Bahamian island of Grand Bahama.It is agreed by most academics and lawmakers that West End is the current capital of Grand Bahama, contrary to the popular belief that Freeport is the capital of the island.
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