The party was founded on June 16, 2019 by former independent senator Nikoli Edwards to contest the 2020 Trinidad and Tobago general election.

The Progressive Party held its first General Meeting in San Fernando, Trinidad and Tobago on December 15, 2019.

At that meeting, the party's constitution was ratified, and six of the seven members of the Board of Directors were appointed.

In his keynote address, Party Leader Nikoli Edwards outlined his party's policies and vision for Trinidad and Tobago, stating that Trinidad could not achieve progress under the two leading parties in Trinidad, the United National Congress (UNC) and the ruling People's National Movement (PNM).

The party believes in maintaining a small to moderately-sized government that focuses on helping citizens to realise their fullest potential in a reasonably regulated environment.