However the island finally gained a stable source of income when in 1955 a Virginian financier named Wallace Groves began redevelopment with the Bahamian government to build the city of Freeport under the Hawksbill Creek Agreement and create the Grand Bahama Port Authority.
Subito dopo Edward St. George, con l'aiuto economico di Sir Jack Hayward, sviluppo la società con nuove attività.