echnology, and financial services as the opportunities offered by Freeport as an international business centre. The city continues to expand as the new company develops new infrastructure and services complemented by the real estate development and tourism sectors that deliver world-class amenities.
The City of Freeport on the island of Grand Bahama is poised for significant economic growth in the coming years
Recent investments in Grand Bahama include the $15 million Bahamian Brewery and Beverage Company, a 100% Bahamian owned business, which is constructing a 20-acre, state of the art brewery with equipment from Germany, employing over 50 Bahamians in the early stages. Associated Grocers of Florida has also invested $5 million in the development of a product distribution center, International Distributors of Grand Bahama, for the import and export of food and related products.
Another major investment is the expansion of Gold Rock Creek movie production and technical facility where the blockbuster movies “Pirate of the Caribbean” II and III were filmed. Also, the $250 million New Hope Holding reinvestment promises 275 European style luxury homes and apartments, long term slip dockage, and 125 slip marina. Further reinvestment is also targeted for Old Bahama Bay located in West End Grand Bahama Island at $585 million.
Over $5.5 billion in new investments and reinvestments are planned for the Grand Bahama Island in the next two years. These include multi-use facilities, condominiums, golf courses, redevelopment of existing properties, a steel manufacturing company, major distribution facilities, and residential yacht communities.
The Grand Bahama Port Authority is a private corporation mandated to administer and promote all commercial and residential development in the 230 square miles that make up the Freeport and Lucaya on Grand Bahama Island. |
