Home Affairs Minister Michael Fahy has released the most recent statistics from his Ministry with highlights including 22 new businesses being opened and increases in planning and building permits.

The Minister said: “The statistics for 2014 are a positive indicator that things are moving in a good direction. Many of these findings can be translated into greater efficiencies within the Ministry last year and, in some cases, more job opportunities.”

The statistics were broken down by department starting with the Bermuda Economic Development Corporation.

The 22 new businesses opened within the Island’s three Economic Empowerment Zones brought with them 60 new jobs between January and November 2014 according to the statistics. The BEDC’s Loan Guarantee and Micro-Loans saw positive growth assisting 12 new and existing businesses and bringing in 35 new jobs.

The Departmnet of Planning received some 563 planning applications in 2014 while application waiting times were reduced by almost two weeks.

Minister Fahy said: “As planning application numbers are often good economic indicators, the clear increase for 2014 is undoubtedly a positive sign and indicative of a possible turnaround in the economy or, at least, heightened confidence in Bermuda’s future.”

Building permits also saw an increase, up by 176.

The Ministry said that the New City of Hamilton Plan would be tabled in the House this year.

The Department of Workforce Development worked with CableVision to see Channel 87 include job postings on the Job Board. Last year also saw the completion of the National Training Plan aimed at reducing our reliance on overseas labour.

The Labour relations section dealt with 661 labour dispute cases.

The Career Development section organised a number of career development outreach initiatives to promote registration with the Department of Workforce Development in a joint initiative with the Bermuda Industrial Union.

In the Registry General Department a new revenue stream was created through a charity registration fee for charities bringing in more than $35,000 a year in donations.

In the Immigration Department some 11,321 work permits were processed compared to 10,825 the previous year.

“2014 saw the first uplift in work permits since 2008, which, in my opinion, is a positive indicator that Bermuda is getting back on the map for business,” said Minister Fahy.

“We should never undervalue the importance of having an increasing number of people on the Island. More people equates to more money circulating on the Island with more use of services which, in turn, equates to a boost on our economy,” Mr Fahy said.

As for the new work permit policy, due to come into effect on March 1, Mr Fahy added: “For me, it was about finding the right balance between assisting International Business in getting the best employees they can in a competitive marketplace, while also ensuring that qualified Bermudians are given the opportunities we deserve – a balance which I believe has now been found due to the extensive consultative process.”

Changes to the policy included the Global Entrepreneur Work Permit cutting red tape for start-ups, and the Business Work Permit for new exempted companies.