The Grand Bahama Port Authority ( GBPA ) operates the free trade zone , under the Hawksbill Creek Agreement signed in August 1955 whereby the Bahamian government agreed that businesses in the Freeport area would pay no taxes before 1980 , later extended to 2054 .
The Grand Bahama Port Authority ( GBPA ) runs the free trade zone , under the Hawksbill Creek Agreement signed in August 1955 . There , the Bahamian Government agreed that businesses in the Freeport area will pay no taxes before 2054 .