Port of Spain a shopping and business centre for much of the country. Most government offices are also located in the city and many important government services can only be accessed in the Ministry offices located downtown. Within recent years, local banks headquartered here have helped it become a financial centre for the Caribbean and Central America region. Two of the largest banks in the Caribbean, Republic Bank, Trinidad and Tobago Limited and Royal Bank of Trinidad and Tobago (RBTT, reacquired by the Royal Bank in 2008) are headquartered here or base their Caribbean operations in the city. Trinidad's economy is based on
Port of Spain town's population and its geographical extension westwards. From the small cluster of buildings at the foot of the Laventille Hills, eleven streets were laid out west to the area bounded by the St. Ann's River, thus establishing the grid pattern which has survived in downtown Port of Spain to the present day. Along the sea shore was the Plaza de la Marina (Marine Square), a parade ground. By 1786, the town had a population of about 3,000. Realising that the St. Ann's River, prone to flooding, was impeding the expansion of the town, Chacón had its course diverted in 1787