The Poro Point Freeport Zone used to house the former Wallace Air Station. The enactment of R.A. 7227 (Bases Conversion and Development Act) on March 19, 1992 and Proclamation No, 216 on July 27, 1993 effectively transferred the stewardship of the Freeport to the Bases Conversion and Development Authority (BCDA) to facilitate its conversion into a productive economic growth center.
On June 29, 1993, former President Fidel V. Ramos issued Executive Order No. 103 establishing John Hay Development Corporation as a subsidiary and implementing arm of BCDA for Camp John Hay. This was subsequently amended to include the development of Wallace Air Station, thereby renaming it to John Hay Poro Point Development Corporation. It was under JPDC when the operation, management and development of the San Fernando International Seaport and San Fernando Airport were turned over to BCDA on February 1, 1997 and February 1, 1998, respectively.
On October 2002, President Gloria Macapagal-Arroyo issued Executive Order No. 132 renaming the John Hay Poro Point Development Corporation to John Hay Management Corporation for John Hay Special Economic Zone, and at the same time, created the Poro Point Management Corporation (PPMC0 to manage the Poro Point Freeport Zone.