Prime Minister Philip ‘Brave’ Davis unveiled a comprehensive economic revitalization strategy for Grand Bahama during a landmark cabinet meeting in Freeport on Tuesday. The government announced three transformative projects totaling approximately $600 million in investments, signaling a new chapter for the island’s economic development.
The centerpiece involves a groundbreaking energy agreement with Emera Incorporated concerning Grand Bahama Power Company. This memorandum of understanding represents a historic shift in energy governance, marking the first government control over power distribution since the Hawksbill Creek Agreement. Prime Minister Davis emphasized this move will establish uniform electricity rates across The Bahamas, addressing long-standing disparities between Grand Bahama and other regions. ‘This is about fairness, affordability, and aligning energy policy with the needs of the people,’ Davis stated, noting that reduced energy costs will enhance business competitiveness and support investment growth.
Concurrently, Phase One of the Grand Bahama International Airport redevelopment has commenced construction with a $100 million capital investment. Construction firm Polycon has mobilized operations, with Bahamas Hot Mix conducting site preparation. The project will deliver a modern terminal capable of handling 500,000 passengers annually, expandable to one million. The design incorporates extensive flood mitigation measures and environmental considerations following comprehensive impact assessments. This infrastructure upgrade responds to remarkable tourism growth, with air arrivals increasing over 30% in 2025 compared to 2024, surpassing pre-pandemic levels.
In maritime developments, MSC Cruises will invest $450 million in a new cruise pier complex at Billy Cay in Freeport Harbour. The project includes $400 million for port infrastructure and $50 million for a beach club and retail village refurbishment. The facility will feature new berths, welcome plazas, retail outlets, and entertainment areas, designed as a multi-user terminal to enhance Grand Bahama’s cruise sector competitiveness. Additionally, MSC is negotiating potential acquisition of Hutchinson Ports operations, including Freeport Container Port, positioning Grand Bahama as a strategic logistics hub within global shipping networks.
Prime Minister Davis reported over $3.5 billion in investments and commitments across multiple sectors since September 2021, including tourism, maritime, health, logistics, and education. While addressing ongoing challenges with the Grand Lucayan redevelopment, Davis affirmed the government’s commitment to ‘protecting workers and safeguarding public interest’ through careful, sustainable project advancement. The comprehensive strategy aims to establish Grand Bahama as a diversified, resilient port economy where investment and communities can thrive.