Cayman Enterprise City Drives Record Growth and Socio-Economic Impact
Independent Report Highlights Major Contributions to Cayman’s Economic Diversification, Job Creation, and Global Competitiveness for Businesses
Grand Cayman, Cayman Islands (7 May 2025) – Cayman Enterprise City (CEC) has published its highly anticipated 2024 Socio-Economic Impact Assessment. The report, independently authored by leading Caribbean economist Marla Dukharan, outlines significant milestones and substantial contributions made by CEC towards economic diversification, job creation, and the attraction of foreign direct investment to the Cayman Islands.
The assessment highlights CEC’s continued growth, showcasing a thriving community of 375 special economic zone companies (SEZCs), which underscores Cayman’s robust business ecosystem and strategic position as a global hub for innovation. SEZCs within CEC benefit from streamlined operational processes, including simplified company formation, fast-track employment certificates, and tax neutrality guaranteed through 2061, making the jurisdiction particularly attractive to global enterprises.
"The continued success of the CEC project demonstrates the importance of providing global businesses with a high quality, transparent, and vibrant physical presence solution," said Charlie Kirkconnell, CEO of Cayman Enterprise City. "CEC is committed to ensuring the sustainable growth of the local knowledge and technology business sectors in a way that significantly benefits both our members and the wider Cayman community."
From an economic standpoint, the report highlights that employment within CEC has increased significantly, contributing high-value jobs and wages averaging 67% higher than comparable local sectors. Additionally, CEC actively invests in workforce training and development initiatives, strengthening local talent pools to support long-term economic resilience and innovation.
For global businesses evaluating Cayman as a strategic base, the report underscores key advantages including Cayman's advanced infrastructure, strategic geographic location, robust regulatory frameworks, and reliable access to skilled international talent.
CEC's socio-economic initiatives have also demonstrated notable community impact, aligning closely with the Cayman Islands Government’s economic diversification and employment priorities. The report details ongoing investments in industry training, entrepreneurship, and mentorship opportunities, emphasising CEC’s commitment to social responsibility and sustainable development.
"Our findings clearly indicate that Cayman Enterprise City is a major driver in diversifying Cayman’s economy and creating quality employment opportunities," noted economist Marla Dukharan. "The continued expansion of CEC significantly supports Cayman’s strategic economic goals and global competitiveness."
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports.
For more information on how to get involved visit www.enterprisecayman.ky.
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