A compelling case for an extension of 20 years of the expiring HCA provisions relating to business licence fees and property tax concessions, has been presented by GBPA and its various licencees to the Hawksbill Creek Committee. A substantial extension of the concessions is required to preserve existing jobs and unlock opportunities to create new jobs through expansion projects in the Port Area as well as overall new investment in Grand Bahama.
Meaningful dialogue and collaboration with Central Government in the development and regulation of Freeport has always been supported and encouraged by GBPA and its shareholders. We therefore look forward to progressing our negotiations with Central Government with a view to eliminating, as early as possible, the continuing uncertainty regarding the future of those expiring tax concessions.
