 It was supposedly named Freeport because there was no charge to use the dock ('free port') at the junction of Four Mile Creek and Lafayette Creek.Historically, the economy of Freeport was largely dependent on the local timber industry through sawmills and logging, as well as the processing of turpentine.After the introduction of the railroad in Defuniak Springs, Freeport lost its position as the economic powerhouse in Walton County.