The manufacturing sector of the economy is rapidly maturing into a major contributor to growth and progress in The Bahamas. Today, offshore manufacturing contributes $130 million to the economy annually with domestic manufacturing accounting for another $90 million.
Manufacturers enjoy a variety of tax breaks and legal incentives by locating a business in The Bahamas. A mature tax haven, companies pay no taxes on personal or corporate income, capital gains, or dividends. Investors benefit from the Industries Encouragement Act which exempts exporters from import duties on raw materials and equipment and real property tax.
The Bahamas is strategically located 50 miles off the U.S. coast. Additionally, it is a party to The Caribbean Basin Initiative, The Caribcan Initiative and the Lome IV Convention, which allow most Bahamian products to enter the U.S., Canada, and Europe duty-free -a market of close to 600 million people.
The Bahamas' largest industrial centre is Freeport on the island of Grand Bahama. Freeport is a 200 square mile free trade zone and tax free zone whose focal point is the Freeport Harbour.
In July, 1997, a world class container transhipment terminal, able to accommodate the world's largest ocean going vessels, came on stream in Freeport Harbour.
The infrastructure in The Bahamas is modern and well-suited to accommodate commerce. International air service is available throughout the islands and the telecommunications are modern and efficient. Additionally, the 3,500 kilometer road and highway system in The Bahamas is well developed and is constantly being upgraded.
Manufacturing Opportunities:
Agriculture and Food Processing
Fisheries and Mariculture
Electronics Manufacturing
Pharmaceuticals Manufacturing
Computer Assembly
Jewelry Manufacturing
Personal Care and Cosmetic Products
Shoe and Garment Manufacturing
Tools Assembly and Manufacturing
Light Plastics Products
Furniture Manufacturing