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Independent Report Confirms CEC is Delivering More Jobs, Better Wages, and is Fuelling Business Innovation
Enterprise Cayman is proud to announce the release of the 2024 Socio-Economic Impact Assessment by Cayman Enterprise City (CEC), independently authored by leading Caribbean economist Marla Dukharan. The findings reinforce the critical role CEC plays in supporting Cayman’s economic diversification efforts and in delivering meaningful employment and training opportunities for Caymanians.
- Significant Job Creation and Caymanian Participation
In 2024, 758 individuals were employed by CEC special economic zone companies — a 15.6% increase from the previous year. Notably, 77% of Caymanian-held jobs were in high-growth sectors such as tech, media, and science. This reflects the growing demand for skilled talent and the effectiveness of programmes aimed at building a future-ready workforce. - High-Value Employment Opportunities
CEC continues to deliver jobs with wages significantly above local averages. The report highlights that salaries within the zones are, on average, 67% higher than comparable jobs outside the zones. This not only raises the standard of living but also attracts more Caymanians to pursue careers in innovative and emerging sectors. - Investment in Workforce Development
Through the work of Enterprise Cayman, over 4,200 professional development opportunities were made available in 2024 alone. These include internships, mentorships, workshops, and networking events—all designed to empower Caymanians with the skills and experience needed to thrive in a competitive global economy. - Strengthening Local Entrepreneurship
Since launching in 2021, the Enterprise Cayman business incubator programme has supported 41 Cayman-born ventures, demonstrating a strong pipeline of local innovation. By providing founders with training, access to investors, and a platform to test and grow ideas, CEC is helping to future-proof Cayman’s economy from the ground up. - Alignment with National Development Goals
The report confirms that CEC is delivering on commitments outlined in its strategic partnership with the Cayman Islands Government. This includes providing meaningful career pathways for Caymanians, supporting educational initiatives, and driving economic activity that is both sustainable and socially responsible.
As the Cayman Islands continues to diversify its economy and prepare for long-term growth, Enterprise Cayman is here to ensure Caymanians are equipped with the tools and opportunities they need to succeed.
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Read the full report here: CEC Socio-Economic Impact Assessment 2024
Together, we’re building a resilient, inclusive, and globally competitive Cayman Islands.
