The Bermuda Business Development Agency (BDA) is redefining its approach to economic development through a strategic transition to an Investment Promotion Agency (IPA) model. Under the leadership of new Managing Director Kendaree Burgess, the organization aims to attract high-value foreign direct investment by prioritizing measurable economic outcomes.
The transformation represents a significant shift in the agency's strategy, focusing on key metrics including business incorporations, long-term investments, and enterprise growth. By adopting a data-driven approach, the BDA seeks to position Bermuda as a premier global investment destination.
Burgess, with over 25 years of executive experience across financial services, hospitality, and healthcare sectors, brings extensive leadership expertise to the role. Her previous experience as CEO of the Bermuda Chamber of Commerce provides a strong foundation for driving economic development and legislative changes.
The BDA has restructured its leadership team to support this strategic pivot, including promoting industry veterans David Parker as Head of Business Development and Simone Gibbons as Head of Marketing, Communications & Events. The new stakeholder-focused approach includes creating a dedicated Stakeholder Relationship Manager role to deepen engagement with local and international businesses.
A critical aspect of the new strategy involves targeting sectors with the highest potential to diversify Bermuda's economy and boost GDP. The agency plans to prioritize investments that create tangible benefits for Bermuda residents, with a commitment to transparent reporting and demonstrable results.
Board member Susan Pateras emphasized the collaborative nature of this approach, highlighting the support of government and industry partners in facilitating this transformative strategy. The BDA's leadership believes the IPA model will unlock new opportunities and position Bermuda for sustainable economic growth.
