Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives City and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
The SEZs were developed to diversify and expand Cayman’s economy, and attract a new business to the Cayman Islands. It is also developing new careers for Caymanians in technology related fields. 225 companies from across the globe have taken advantage of the benefits of CEC and now operate from four zone building, in and around the capital of George Town.
In April 2018, a $39 million plan for the first phase of a new 53-acre campus was approved by the Central Planning Authority. The GT location is five minutes from the newly expanded Owen Roberts International Airport and boasts breath-taking views over South Sound. CEC will break ground this November and the first three buildings of phase one are expected to be completed within five years. The campus development is key to further developing the CEC business hub and fostering a vibrant community of innovative companies and entrepreneurs. It is estimated that more than 500 businesses will be operating from within CEC in the next five years.
The master planned campus showcases environmental architecture and designs to encourage socialization and collaboration, unlike anything seen in the Caribbean. CEC’s Chief Development Officer and architect Cindy O’Hara is the mastermind behind the plan which encompasses 30+ urban mixed-use buildings and an extensive boardwalk set around a 14-acre circulating lake and wetland botanic park which has been designed to encourage wildlife. The pavilions, pathways and kayak launches bring into the focus the reciprocity of landscape, public life and ecology. The new campus will provide a large pallet of experience; a city centre, lakeside water frontage and mixing high tech office space with wellness in an eco-friendly environment.