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What Is The Hawksbill Creek Agreement
The first developers began dredging a deep-water port and building an airport and roads. These important infrastructure developments, as well as the duty-free concessions of the agreement, have helped to attract important industries to the island. Seymour believes Freeport`s future economic success depends on HCA. “It`s an agreement that the Bahamas government has signed for 99 years, and since it doesn`t formally expire until 2054, I think it`s really not something that someone has a choice in – the government can comply with the agreement, or if they choose to, but probably not to denounce the agreement. The agreement signed between the Grand Bahama Port Authority Ltd (GBPA) and the government has a 99-year period and consists of obligations, customs duties and exemptions. In this document, the government granted GBPA approximately 230 square miles of land known as the “port area” for its development. “I`ve had more than a few of our members come up to me, which is going to happen; They knew that a special commission had been set up and they presented its report to the government, but they wanted to know the result,” he said. Kevin Seymour, president of the Greater Bahamas Chamber of Commerce, said some of its members were concerned about the expiration of the agreement and whether the government would extend those exemptions. . Freeports development began with the signing of the HCA on August 4, 1955. The tax relief at issue is of great importance for the continued economic development of the city of Freeport and the entire island of Grand Bahama. Freeport would not exist without the Hawksbill Creek Agreement, which led to significant infrastructure developments and investments on Grand Bahama Island.
In the meantime, however, it is essential, at least in the short term, that we maintain the status quo with respect to the tax breaks in question. This requires a brief extension of the Hawksbill Creek Grand Bahama (Deep Water Harbour and Industrial Area) Act of 1993 (Extension of Tax Exemption Period) act of 1993, which, as I pointed out at the beginning of this communication, is scheduled to expire on August 4, 2015. . “We support this extension because the HCA has really benefited taxi drivers, especially when parts and vehicles are entered,” he said. “The only problem we have with this is where some tower companies use their connected vehicles to do tour work rather than private charters. We opposed it and called for all public transport to be handed over exclusively to the government. The government stated that the Committee had met with “more than 100 stakeholders, including civil society, manufacturers, developers, tourism operators, current and former professionals and parliamentarians on both sides of the parliamentary divide,” and that it had public meetings.