Cayman Enterprise City has reached 500 businesses operating within its Special Economic Zone, a milestone the organisation says reflects the zone’s growing role in diversifying the Cayman Islands economy and creating jobs in technology and other specialised industries.
CEC announced the milestone during the Tech Futures Week Innovation Summit. According to an independent socio-economic impact assessment commissioned by CEC and conducted by economist Marla Dukharan, the zone has generated more than US$1.23 billion in cumulative economic impact since 2012. Its economic footprint totaled US$152.3 million in 2025, according to the assessment.
“Reaching 500 Special Economic Zone businesses is a significant milestone, not only for Cayman Enterprise City, but for the Cayman Islands,” Premier and Minister for Financial Services and Commerce André Ebanks said. He said the zone’s growth should translate into high-value careers, opportunities for Caymanian entrepreneurs and businesses, and greater access to emerging global industries.
CEC was established in 2011 to attract internationally focused businesses in knowledge-intensive industries and support economic diversification. Its zone now includes businesses across 25 specialised industries, including artificial intelligence, financial technology, virtual assets, cybersecurity, aviation, software, film and media, medical technology and commodities trading.
The impact assessment found that CEC companies employed 172 Caymanians and permanent residency holders in 2025, paying them approximately US$22 million in salaries. Employment of Caymanians and permanent residents was 2.5 times its 2020 level, and 61% of those employees held professional or leadership positions, according to the assessment.
CEC also reported that its companies did business with 164 local companies in 2025, directing US$10.7 million to Cayman businesses. Salary-related local consumption associated with the zone totaled US$51.6 million for the year, according to the assessment.
“Every business that establishes a genuine physical presence here brings investment, expertise, employment, innovative ideas and international connections to the country,” CEC Chief Executive Officer Charlie Kirkconnell said. He said the concentration of businesses is helping create new industries, career paths and opportunities for local companies.
CEC also operates Enterprise Cayman, a nonprofit initiative focused on career development and entrepreneurship. CEC said 193 interns have been placed through its programs since 2012 and more than US$750,000 has been invested in training and skills development. In 2025, 2,518 residents participated in 84 workshops and events, according to the organisation.
CEC operates Cayman’s Special Economic Zone under legislation overseen by a statutory authority. Its latest impact assessment describes CEC and the businesses operating within the zone as a “meaningful third economic pillar” alongside financial services and tourism.
