Freeport is a 230-mile free trade zone established by the government of the Bahamas in 1955. It is now a bustling commercial center just a 35-minute plane ride from Southern Florida. Its harbor is the nearest offshore port to the United States. Freeport is well suited for global trade, being the intersection of Europe, North and South America and Panama Canal routes. Businesses at the Freeport pay no taxes on profits, income, capital gains, inheritance, gifts, distribution, and import and export of goods. Taxes and import duties on real estate have been waived until 2015.
The Freeport harbor can accommodate very big vessels. It is already used by six major cruise lines and has about half a million tourists annually. It is also suited for home-porting due to its proximity to the Freeport International Airport.
Freeport International Airport is one of the biggest privately-owned airports in the world. It is a modern and well-equipped facility just minutes away from South Florida. Almost 50,000 flights each year are accommodated at the airport. Some of the airlines regularly using the airport are Continental, Comair, American Eagle, Gulf Stream International, Laker Airways International, and BahamasAir.
About the size of Singapore, Freeport has excellent roadways and waterways as well as duty-free and leisure shopping. It has a cosmopolitan night life. Modern health and educational facilities, cable television and plenty of cultural and leisure facilities are predominant in the area. International sports available in Freeport include polo, golf, squash, tennis, baseball, cricket, soccer, rugby, volleyball, and horseback-riding. It is also famous for water sports like fishing, sailing, windsurfing, waterskiing, swimming, and diving.
The subtropical climate supports 36 species of orchids and 200 species of birds, which are regular visitors. The air is very clean, and the water table can support around 250,000 people. Low-cost electricity is provided by Freeport Electric Company together with The Southern Electric Company of the United States.
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