News
Reflections on Freeport, the “Magic City” as it turns sixty
Providenciales, 07 Aug 2015 – The vision of developer Wallace Groves that gave birth to an economic zone on Grand Bahama that would come to be called the Magic City, Freeport, the industrial capital of The Bahamas, legally enabled by the Hawksbill Creek Agreement, turned 60 this week.
The agreement between the government of The Bahamas and Wallace Groves was signed on the 4th of August 1955 and by all accounts, the Freeport experiment was a qualified success.
Built on Pine Barren, by all accounts, Freeport is a modern and well designed city. The name Freeport was derived from the guaranteed long term tax concessions and benefits for financial, commercial and industrial enterprises by port licensees within this one of a kind economic free trade zone. At that time the advantages offered were superior to any being offered in the region.
The 1955 Act specifically stated that “no real property or rates and no real property levies (whether capital or periodic) of any kind shall be levied, charged or collected by the Government within the Port Area or upon or against any land building or structure within the Port Area.”
Additionally, “no personal property taxes or rates and no capital levies and no taxes on capital gains or capital appreciation shall be levied, charged or collected by the Government. No taxes of any kind shall be levied upon or against the earnings of the Grand Bahama Port Authority or against the earnings of a Licensee in the Port Area and outside the Colony.”
The initial vision and business model called for Freeport to be a major shipping hub, taking advantage of its proximity to the North and South American shipping lanes, and an international business center. Under the 1955 Hawksbill Creek Agreement, the Grand Bahama Port Authority established the infrastructure for World Standard Services and Facilities.
The city thrived under the 1955 tax regime and business model but was subject to the radically changing social order that was sweeping across North America and the Caribbean. This social revolution engulfed The Bahamas as it came into its own by bringing all citizens on the periphery of Bahamian society well into the Bahamian mainstream, both socially and economically; this public policy remains a work in progress.
Today, Freeport continues to offer an exceptional business climate for both domestic and foreign direct investment in the aftermath of Hurricanes Frances, Jeane and Wilma one decade ago that caused extensive infrastructural damage; the legal disputes between and the deaths of both of its principals, Sir Edward Saint George and Sir Jack Hayward; the extensions of tax concessions to east and west Grand Bahama beyond the port area; and the ongoing negotiations between the government and relevant stakeholders on the future of the tax concessions enjoyed by port licensees for sixty years.
On Wednesday 29th July 2015, the Parliament of The Bahamas extended the tax provisions for another six months to allow for a more in depth analysis of the local economy and to finalize a strategic economic plan for the island going forward.
On Freeport’s sixtieth birthday, the voices of Grand Bahamians were heard on this decidedly successful commercial experiment, its growth and development over the years, and its promising future. The recurrent themes were the lack of economic activity and job opportunities, especially for our youth.
“I believe that the magic has gone out of Freeport; the drive that the movers and shakers had for Freeport died now…I guess it died with the person who was in charge and when they died the vision died as well” said one resident.
“For the last twenty years Freeport has gone totally down. Since the storms, there was no type of replenishment for Freeport” said another Freeport resident.
“Some people doing okay; some people doing bad so I guess it depends on what you into” was another observation.
“Freeport right now…the state it in, you could see it, it picking up slowly but what needs to really happen right now we need more…basically for the youth more job opportunities” was yet another view.
One lady felt strongly about opening the former Princess Towers and Princess Country Club:
“People need work. They need to do something with that big hotel down at the Bazaar, the Princess, I mean open it up or do something ‘cause people need jobs. Young people coming out of school – they need jobs.”
One observer believed the principals made a strategic error in developing Freeport. He commented on the structure and function of the Freeport model.
“The successful business model created by Wallace Groves was transformed by the Hayward/St George shareholders, who determined that assets critical to the operation of a “Freeport” were to be either partially or completely sold off to outside interests. Under new management those entities became profit centers, thereby increasing operational costs – a disincentive to potential investors; the power company, the Freeport Harbour Company, the airport company and the Grand Bahama Development Company (are just a few examples).”
The complaints about high airport landing fees, the high cost of aviation fuel and the absence of a modern airport post Hurricane Wilma have reached the highest levels of government and will no doubt figure prominently in the current negotiations.
We thank the observers for their frankness and brutal honesty.
In the end we congratulate Freeport on its sixtieth birthday and Bahamians remain optimistic and hopeful of its return to its lofty perch as the “MAGIC CITY.”
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.
Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable
Powerade water bottles and numerous marketing materials.
The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.
Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.
Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.
“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.
Sam Nicholls, Basketball Smiles Camp President and Founder expressed.
“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.
CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.
For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.
NASSAU, Bahamas — Caribbean Wines and Spirits (CWS), The Bahamas’ premier wine and spirits distributor is thrilled to once again lend its support to Transforming Spaces (TS).
CWS is a proud historical partner of the annual art week which highlights Bahamian art and art spaces. Under this year’s theme, “Chasing
Light” Transforming Spaces and Caribbean Wines & Spirits created a memorable art experience.
To mark 21 years of the upliftment and exposure of culture and Bahamian art, CWS offered award winning wines St. Francis, Rebellious, Bottega and Excellsior; premium spirits, Cross Keys Gin, El Tequileno Tequila, Angostura Rum and Nemiroff Vodka, along with the newly added Coors Light Beer from its portfolio.
To kickstart the annual art week, CWS delighted attendees with a tasting of globally renowned Bottega Wines at TS’ Poetry Jam, held at ICE Bahamas. Throughout the event, Bottega brand representatives shared tasting notes, ideal pairings, and insights into the brand’s portfolio.
During the highly anticipated Saturday and Sunday tours, CWS showcased its premium products at select art galleries.
Attendees enjoyed Rebellious and St. Francis wines at The Current: Baha Mar Art Gallery and Museum, Bottega and Excellsior wines at the National Art Gallery of The Bahamas, Coors Light beer at the University of The Bahamas Pro Gallery and hand-crafted Schweppes mixes featuring Cross Keys Gin, El Tequileno Tequila, Angostura Rum and Nemiroff Vodka at CAB Gallery & Studio.
Throughout the two-day tour, CWS product specialists enriched the experience by providing a deeper appreciation for their exceptional beverage portfolio.
Members of the Transforming Spaces Committee expressed their appreciation towards CWS’ support after another successful art week.
“Transforming Spaces is deeply grateful for the continued support of Caribbean Wines & Spirits over the years. Their partnership has become such an important part of the TS experience, helping us create welcoming and vibrant moments for our audiences across the tour weekend. From signature wines and cocktail bars to refreshments at gallery stops and pop-up events, their contribution brings an added sense of hospitality, celebration, and connection to the journey through Bahamian contemporary art.” — TS2026 Committee.
Caribbean Wines & Spirits is proud to partner with Transforming Spaces in supporting and elevating the voices and works of Bahamian artists and looks forward to strengthening this partnership for years to come.
To learn more about CWS’ involvement in the community, follow on social media @caribbeanwinesandspirits or visit the website at www.cwsbahamas.com today.
By Magnetic Media Newsroom
PROVIDENCIALES, Turks and Caicos Islands — The Turks and Caicos Islands Government says the breakdown of its relationship
with InterHealth Canada presents an opportunity to reshape healthcare delivery, with plans to expand local medical services, strengthen primary care and reduce dependence on overseas treatment.
During a national briefing following InterHealth Canada’s notice terminating its hospital contract, Premier Charles Washington Misick acknowledged publicly for the first time that Government and InterHealth had been negotiating an exit from the arrangement for more than a year after what he described as an “irretrievably broken down” relationship.
Despite the contractual dispute, Misick and Health Minister Kyle Knowles stressed that healthcare services will continue uninterrupted during the transition.
“Allow us to do our job,” Knowles appealed, assuring residents that Government is actively managing the transition and safeguarding patient care.
The Premier outlined what amounts to a broader healthcare transformation built around four connected levels of care: strengthened community-based primary healthcare; expanded polyclinic services; enhanced hospital-based secondary care with greater specialist capacity; and overseas tertiary treatment only for cases that cannot be managed locally.
Among the proposals are the long-discussed establishment of intensive care units, expanded use of currently unfinished hospital space,
recruitment of more resident specialist physicians and stronger contract management to oversee future healthcare agreements.
Knowles said the new polyclinic model will broaden services available outside the hospitals, including dentistry, ophthalmology, laboratory services, diagnostic imaging, gynaecology and preventative screening, helping to reduce pressure on emergency departments while improving early intervention.
Misick also acknowledged that while the hospital system significantly improved healthcare access after opening in 2010, Government believes further reform is necessary to improve affordability, sustainability and the range of services available within the Turks and Caicos Islands.
The briefing marked the Government’s most comprehensive explanation to date of its plans beyond the InterHealth contract, signalling that officials now see the transition as an opportunity to redesign healthcare delivery rather than simply replace one operator with another.
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