Economic Development Department - Government of Bermuda

Department

Under the Ministry of Economy and Labour

What do they do?

The EDD works to advance Bermuda’s economic growth by supporting future-focused policies, programmes and partnerships. The Department works to strengthen Bermuda’s business environment and help position the Island for long-term competitiveness. It also helps coordinate Government action, policy development and stakeholder engagement to support investment, innovation and economic activity.

Our Mission

The Economic Development Department supports the sustainable growth, development and diversification of Bermuda’s economy.

Our Work

The EDD is responsible for supporting key national priorities, including the Economic Development Strategy and the Fintech Strategy.

Its work includes research, policy support, investor facilitation, grant administration, fintech development and coordination across Government.

Objectives

The EDD’s objectives are:

Facilitate, create, and implement policies to support the Bermuda Economic Development Strategy 2023-27.
In collaboration with industry stakeholders, position Bermuda as an ideal test market for innovative product and industry development.
Identify the jurisdiction’s market fit, clearly communicate its message, and drive opportunities that lead to economic activity.
Process various Land Licenses and Incentive For Job Maker applications in a timely, efficient and professional manner.
Facilitate opportunities for technology education, mentoring and training, and support e-entrepreneurship.
Help create a more attractive regulatory environment for business and enhanced communication between the Government of Bermuda and the private sector.

Online services

Economic Development Department

Applying for an EDD Grant

The Economic Development Department (EDD) offers grants to support various initiatives aimed at fostering economic growth and development in Bermuda. Here are the key steps and requirements for applying for an EDD Grant: Steps to Apply Eligibility Check: Ensure your project or initiative aligns with the EDD’s objectives and criteria. Application Form: Complete the EDD Grant Application Form with all required details. Supporting Documents: Prepare and attach all necessary supporting documents,...

PATI statements

E-Commerce Advisory Board (ECAB) Economic Development Department (EDD)

Article

Incentives for Job Makers - Guidelines for Employers

The Economic Development Department (EDD) offers a range of incentives for employers who are committed to job creation and economic growth in Bermuda. These guidelines provide detailed information on the available incentives and the application process for employers. Below is an overview of the key aspects: Overview of Incentives Tax Relief: Employers may be eligible for tax relief, including payroll tax exemptions and customs duty relief, to support job creation. Work Permit Concessions:...

10 July 2024 Economic Development Department 2 min read

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Step-by-Step Guide to Starting a Fintech Company in Bermuda

Starting a fintech company in Bermuda involves several key steps to ensure compliance with local regulations and leverage the benefits offered by Bermuda’s business environment. Here is a summarized guide based on the detailed document provided by the Bermuda Government: Key Steps Research and Planning: Understand Bermuda’s fintech ecosystem and regulatory environment. Develop a robust business plan. Legal Structure: Choose a suitable legal structure for your business (e.g., limited liability...

10 July 2024 Economic Development Department 1 min read

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Fintech Training Programme for Bermudian Learners

The Economic Development Department (EDD) is pleased to fund the Fintech Training Programme for Bermudian learners. This programme is designed to enhance skills and provide valuable networking opportunities in the fintech industry. Below are the steps and requirements for successful participation: Steps and Requirements Application and Orientation: Before the deadline announced by the EDD, the learner must apply for the Programme. Attend the orientation session on the date and time specified by.

10 July 2024 Economic Development Department 1 min read

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Mini Biz-Camp

The Youth Entrepreneurship Initiative (YEI) in conjunction with the Economic Development Department will offer a Mini-BizCamp from February 14 - 19, 2022. The camp will be a combination of in-person workshops and on-line video lectures. This blended learning model will feature the award winning NFTE Curriculum modified for the YEI’s BizCamp format along with informative, interactive activities. Participants will log in through the Bermuda Entrepreneurship Schools platform to learn about...

09 February 2022 Economic Development Department 2 min read

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Minister Hayward Extends Condolences - Martha Dismont MBE

"I join the family of Martha Dismont and many others across the island in mourning the loss of this stalwart of our community for her enormous and everlasting contribution to advancing the lives of others and improving our society," said Minister Hayward, following the passing of Martha Dismont, MBE. Minister Hayward continued, "As a member of The Wage Commission, Martha's dedication and commitment to introducing the minimum and living wage rates were instrumental to the process which helped...

17 July 2023 Economic Development Department 1 min read

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The Hon. Jamahl S. Simmons, JP MP: Summer Student Entrepreneur Programme

Good Afternoon. I’m here today to encourage Bermuda’s young entrepreneurs to take full advantage of an exciting new initiative, called the Summer Student Entrepreneur Programme (or SSEP for short), which was launched last week by the Bermuda Economic Development Corporation (BEDC), with complete support and sponsorship from the Ministry of Economic Development and Tourism. SSEP is aimed at developing our Bermudian youth to become the Island’s next wave of entrepreneurs. The eight-week programme.

04 July 2018 Economic Development Department 2 min read

Latest news

Press Release Aug 28, 2025

BEDC’s Summer Student Entrepreneur Programme Graduation

Good evening, guests, members of the BEDC team, proud families and friends, and most importantly, our student entrepreneurs—welcome. As the Minister of Economy and Labour, it is a privilege to be here with you this evening as we celebrate the conclusion of the Summer Student Entrepreneur Programme. I always find these evenings inspiring because they remind me of the creativity, innovation, and determination that lives within Bermuda’s young people. Over the past two months, you have stepped...

Press Release Aug 20, 2025

Bermuda’s Fintech Students Gain Hands-On Industry Experience Through EDD-Supported Internships

The Economic Development Department (EDD) approved a grant to give five Fintech students from The Berkeley Institute the opportunity to intern at Chubb and Paradise Mobile to gain real-life experience and to see how fintech, artificial intelligence (AI) and digital technology improve the company’s effectiveness and efficiency in the workplace. The students include Musa Abdul-Jabbar, Shiloh Cruickshank, Natalia Dill, Zane Furbert-Tankard, and Dunnajai O’Mara. Premier David Burt, JP, MP stated,...

Press Release Aug 13, 2025

EDD Fintech Webinar: The BMA and Bermuda’s Digital Asset Framework

EDD's Fintech Webinar Series An Incubator for Innovation: Understanding The Bermuda Monetary Authority and the influence of the Digital Asset Business Regulatory Framework The Economic Development Department (EDD) is pleased to announce the next installment of its Fintech Webinar Series 2025, on Friday, 15 August 2025, at 12 pm. This event will explore the Influence of the Digital Asset Business Regulatory Framework in a virtual session featuring Tiffany Austin, Assistant Director, Supervision..