Somerset Economic Empowerment Zone
A designated geographical area where special programmes are implemented in order to relieve hardship or economic disadvantage or to assist disadvantaged persons to achieve equal opportunity.
An EEZ is achieved through developing and implementing a system of policies to close the gaps of inequity that exist in certain designated geographical areas in comparison to other areas in Bermuda. The work that takes place in an EEZ is focused on striking a balance between the economic environment (economic equality); the social environment (access to services); the physical environment (high quality design); and the spiritual environment (good quality of life). Currently there are three zones – North East Hamilton, Somerset, and St. George’s.
Business advice and support is the core of the work that is performed in each of the EEZs. Because of the various socio-economic issues found in concentration in the three zones, BEDC has developed various incentives and policy tools aimed at assisting businesses to grow and become more sustainable. These currently consist of: EEZ Payroll Tax Concession; EEZ Custom Duty Deferment; and Preferential Rates and Terms on BEDC Financial Products.
We provide tailored relief programs to assist EEZ businesses
The BEDC aims to create opportunities for area residents, as well as property and business owners so they can better access resources that will rejuvenate and regenerate these areas, while not displacing the current area population.
Junior Micro, Small & Medium Enterprise Officer
Somerset Economic Empowerment Zone Officer