Bermuda Business Development Agency Transforms to Investment Promotion Model Under New Leadership

The Bermuda Business Development Agency (BDA) is undergoing a strategic transformation, shifting to an Investment Promotion Agency (IPA) model focused on attracting high-value foreign direct investment and driving measurable economic growth. Under the leadership of newly appointed Managing Director Kendaree Burgess, the organization is repositioning itself to prioritize targeted investment strategies that can diversify and strengthen Bermuda's economic landscape.

The new approach represents a significant pivot from traditional economic development methods, emphasizing data-driven strategies and concrete outcomes. By concentrating on key performance indicators such as business incorporations, long-term investments, and enterprise growth, the BDA aims to position Bermuda as a premier global investment destination.

Burgess, who brings over 25 years of cross-sector executive experience, will lead the organization's efforts to attract investments that leverage Bermuda's unique strengths. Her background in financial services, hospitality, and healthcare provides a comprehensive perspective on economic development strategies. Previously serving as CEO of the Bermuda Chamber of Commerce, she has demonstrated a track record of driving legislative changes and promoting economic advancement.

The BDA has restructured its leadership team to support this transformative approach. David Parker, Head of Business Development, and Simone Gibbons, Head of Marketing, Communications & Events, will drive targeted market engagement. A new Stakeholder Relationship Manager role, filled by Olivia Joell, will focus on deepening relationships with local and international businesses to encourage reinvestment.

Central to the IPA model is a commitment to transparency and tangible results. The organization plans to provide clear reporting on its economic impact, with a specific focus on creating opportunities that benefit Bermuda's residents across diverse industries. By prioritizing sectors with the highest potential for economic diversification, the BDA seeks to boost GDP and align with the government's broader economic development strategy.

The transition reflects a bold approach to economic development, recognizing that successful investment promotion requires collaborative efforts between government, local stakeholders, and international partners. As Bermuda navigates an evolving global economic landscape, the BDA's new model represents a strategic effort to attract meaningful foreign direct investment that can generate sustainable economic growth.