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The Grand Bahama Port Authority [1] ( GBPA or "Port Authority") is a privately held corporation that also acts as the municipal authority for Freeport, Grand Bahama Island, The Bahamas. The GBPA was created by the Hawksbill Creek Agreement .
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 ...
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.
Before being purchased by the government of The Bahamas, the airport was a joint venture between Hutchison Port Holdings (HPH) and The Port Group (or the Grand Bahama Port Authority). The facility also includes 741 acres (300 ha) of land that adjoins it to the Freeport Harbour Company Limited as they operate as one entity, known as the Sea Air ...
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Grand Bahama is the northernmost of the islands of The Bahamas.It is the third largest island in The Bahamas island chain of approximately 700 islands and 2,400 cays. The island is roughly 530 square miles (1,400 km 2) in area and approximately 153 kilometres (95 miles) long west to east and 24 kilometres (15 miles) at its widest point north to south.
In 1963, after internal self-government was granted to the Bahamas, Groves further secured the right to operate gambling establishments at Freeport, using the services of Stafford Sands. At the same time, Sands and other high government officials received payments exceeding $1,000,000 from the Grand Bahamas Port Authority.
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