# Grand Bahama economic and governance restructuring > Developing situation record from CLSTR: https://clstr.news/situations/grand-bahama-economic-and-governance-restructuring > Updated: 2026-10-22T22:20:51.000Z. Sources: 5. Developments: 2. Grand Bahama has faced prolonged economic uncertainty characterized by a disconnect between major investment announcements and tangible relief for residents. Key recovery efforts have centered on the redevelopment of the Grand Bahama International Airport and the revival of the Grand Lucayan resort, though the region continues to struggle with declining tourism infrastructure and business closures. In response to these challenges, Prime Minister Philip Davis has proposed a new governance framework to replace the island’s current divided administration. The government’s Green Paper, ‘Grand Bahama: A Framework for Stability and Growth,’ suggests creating a government-led Grand Bahama Development Council and conducting a comprehensive review of the 1955 Hawksbill Creek Agreement. The Grand Bahama Port Authority (GBPA) has expressed a need to review these proposals, noting they were not shared prior to the official announcement. The GBPA emphasized that any changes to the existing regulatory system must respect the rights of the Port Authority and its licensees to prevent investor uncertainty. ## Timeline ### 2026-10-22: Bahamas government proposes new governance framework for Grand Bahama Bahamas Prime Minister Philip Davis has proposed a new unified governance framework for Grand Bahama to replace the current divided regulatory system in Freeport. 3 sources. https://clstr.news/cluster/bahamas-government-proposes-new-governance-framework-for-grand-bahama ### 2026-10-13: Grand Bahama struggles to realize promised economic recovery Grand Bahama faces ongoing economic challenges and infrastructure decline despite repeated promises of major investments, including airport redevelopment and the revival of the Grand Lucayan resort. 2 sources. https://clstr.news/cluster/grand-bahama-struggles-to-realize-promised-economic-recovery --- Cite as: Grand Bahama economic and governance restructuring. CLSTR, https://clstr.news/situations/grand-bahama-economic-and-governance-restructuring