GIDC is the investment promotion agency of the Government of Grenada. It was established on March 1, 1985, through the enactment of the Grenada Industrial Development Corporation Act, Act 2 of 1985.
GIDC main administrative office is located in a 9,000 sq ft building in the Frequente Industrial Park.
GIDC affairs are governed by a Board of Directors appointed by the Minister with responsibility for Finance & Industry. Members of the Board are appointed from amongst persons who have qualifications or have had proven experience in matters relating to industry, commerce, finance, accounts, banking, economics, science, law, administration, agriculture or tourism. The board consists of ten members including a chairman and a deputy chairman. Members of the Board hold office for a maximum of three years and are eligible for re appointment. The chairman or in his absence the deputy chairman and two members form a quorum.
GIDC vision is to be "a reliable, responsive, world class investment and business support organization".
GIDC primary goal is to increase private sector investments. Specifically, through the following:
- Attracting new foreign direct investment
- Increasing the number of indigenous, innovative, efficient and profitable small businesses registered and operating throughout Grenada, Carriacou and Petite Martinique
- Facilitating the growth and development of existing domestic and foreign businesses