National

Billions In Play As Freeport’s Economic Momentum Shifts

NASSAU, BAHAMAS – As billions of dollars move into Grand Bahama, the Grand Bahama Port Authority rolls out a plan to meet that demand.

Published

4 months ago

August 14, 2025

Kendeno Knowles

NASSAU, BAHAMAS – Grand Bahama Port Authority leaders like Derek Newbold say they’re making it easier than ever for existing and aspiring entrepreneurs and home owners to be part of the economic momentum.

At a recent presentation in New Providence, Customer Relations Manager Nicole Colebrooke invited attendees to picture a city with no traffic jams, pothole-free roads, and commutes under 15 minutes.

Colebrooke outlined Freeport’s planned city model where zoning keeps residential and commercial areas separate along with a fast-track business licensing process offering approvals in as little as 48 hours. It’s a pitch aimed at residents across the country and the global community.

“Everything is done electronically, we follow our process. Everything is done online….you would also be attached to a customer relations representative who would follow the steps with you,” Colebrooke said.

The city also offers a business diversity waiver, cutting or waiving first-year license fees for unique new ventures.

For small operations, there are registered spaces, shared offices, and warehouse-office combos to help keep overhead low.

Recent months have brought more than just business incentives.

Carnival’s Celebration Key Cruise Port which is now open is expected to bring thousands of visitors weekly, adding fresh energy to the island’s economy.

It’s all part of a surge in development across Grand Bahama, with more than $12 billion in capital projects in the pipeline from tourism to infrastructure to manufacturing.

The full scope laid out in an interactive map at investgrandbahama.com.

“So you’re not alone in this process, we are here to help you, every step of the way,” Colebrooke said.

 GBPA says the invitation is open, and the vision is clear – Freeport remains open and ready for business.

Even as new and existing projects move forward, GBPA leaders say there’s still time to invest in Freeport’s comeback, and take advantage of the opportunities while they last.