U.S. Virgin Islands: America's Business Paradise
| Title | Date | Publication | Summary |
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 Made in the USVI shop reopens |
12/17/2021 | St. Croix Avis | |
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Global consultant FINTRAC winds down USVI business |
04/27/2021 | The Virgin Islands Daily News | |
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Frenchman's Reef could resume construction soon |
04/13/2021 | The Virgin Islands Daily News | |
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Frenchman’s Reef Near Deal with New Partner to Restart Construction |
04/13/2021 | St. Thomas Source |
The Marriott’s Frenchman’s Reef Resort on St. Thomas is close to a deal with a third-party investor that could see the property reopen by the end of 2022, the Economic DevelopmentCommission board of directors heard on Tuesday. |
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Made in the USVI Pop Up Shop and Website |
04/12/2021 | ||
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It’s beginning to look a lot like ... |
11/24/2020 | The Virgin Islands Daily News |
Thanksgiving may be just a few days away, but it’s beginning to look more like Christmas in downtown Christiansted. |
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EDA board approves hotel development deal worth $136.3M |
11/23/2020 | The Virgin Islands Daily News |
The V.I. Economic Development Authority voted unanimously Friday to approve up to $136.3 million in tax breaks to Frenchman’s Reef resort on St. Thomas. |
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Haldane Davies to serve on International Economic Development Council Board |
11/23/2020 | The Virgin Islands Daily News |
Haldane Davies, vice president for Business Development and Innovation of the University of the Virgin Islands, has been elected to serve on the International Economic Development Council Board of Directors. |
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Internet Providers Detail Plans to Keep V.I. Connected During Pandemic |
09/09/2020 | VI Source |
As just about everyone shifts to working from home during the COVID-19 pandemic, internet providers have seen a massive surge in traffic and say they are working to bridge the digital divide the virus has made so glaringly apparent. |
| Committee OKs Annual USVI Caribbean Ag Conference | 02/27/2020 | St. Thomas Source |
The U.S. Virgin Islands could begin hosting an annual Caribbean Agricultural Symposium, exploring such topics as agritourism, imports and exports and the latest agricultural information, if a bill approved Tuesday in committee is enacted by the full Senate. Members of the Senate’s Committee on Economic Development, Regulations and Agriculture were excited by the prospect of a traveling symposium, which each year would alternate between St. Croix, St. Thomas and St. John. The committee also heard an update on the status of the territory’s abattoirs. The proposed agricultural symposium would be hosted by the V.I. Department of Agriculture and Department of Tourism, and possibly the University of the Virgin Islands as well. Department of Tourism’s Director of Communications Alani Henneman-Todman said the symposium can serve to solidify St. Croix as the culinary capital of the region while simultaneously highlighting the territory’s tourism product, farm product, service culture, cuisine and kitchen talent. Department of Agriculture Commissioner Positive Nelson suggested the event be hosted during the slow season, which will draw in a different tourism crowd and allow for hotels to accommodate an influx of large groups. Robert Godfrey, director of the UVI Agricultural Experiment Station, said while some years the symposium will need to stand on its own, in 2024 the Caribbean Food Crops Society will be in the territory and organizers of the new event should coordinate to avoid competition. “I think just a little bit of coordination between the two would make it to where we don’t duplicate efforts and we can probably get a bigger turnout,” Godfrey said. Godfrey said the Caribbean Food Crops Society, an agricultural scientific conference that follows a 10-year rotating schedule, is something UVI researchers participate in and has existed since 1963. “Even though the CFCS has a tropical emphasis to the research presented, it is not focused on any one location and encompasses a wide variety of research from across the Caribbean Basin. A local, V.I. centered agriculture conference would need to complement the CFCS and not compete with it,” Godfrey said. The symposium would operate like a conference in which people could come and learn about the various facets of agriculture in the territory, listen to seminars and hear the latest in scientific agricultural research. Sen. Allison DeGazon, who sponsored the bill along with Sen. Javan James, said, “We have no idea where this could all lead, but we know it’s going to go far.” Senators who voted to move the bill to the Rules and Judiciary Committee were Sens. DeGazon, Myron Jackson, Kurt Vialet, Alicia Barnes, Marvin Blyden, Oakland Benta, Dwayne DeGraff and Athneil Thomas. Sen. Novelle Francis Jr. was absent for the vote. Department of Agriculture Update: Abattoir Status During this time Nelson said the abattoirs will undergo construction while the department conducts staff and certification trainings and addresses outstanding violations. Sen. Barnes said she did not feel it was necessary to have both abattoirs closed and wanted to understand why they had not been done one at a time. Nelson replied that there was a pressing need. “We currently don’t have a quality control director, but on top of that when I came on board last year there were over 17 citations for things that the federal inspector finds that need addressing. And it is very complicated trying to address those NR’s, while trying to maintain operations … so instead of getting an NR every week over the same situation it was recommended that we actually shut down and take a voluntary suspension,” Nelson said. He added the department feels confident it can complete the necessary changes and have the abattoirs up and running sooner than the allotted 120-day time frame. The original article can be read on St. Thomas Source here.
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| Senators Move Change on Employee Requirements for Tax Benefits | 02/20/2020 |
The coming of the International Private Bank to St. Croix was an economic boom for the town of Christiansted, and senators expressed hope that by clarifying the Economic Development Authority’s regulations they can bring in half a dozen more entities just like it. Wednesday, the Senate Committee on Finance gave a favorable recommendation to a bill simplifying hiring requirements for what... |
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| St. Thomas residents impressed by EDA programs and services | 01/31/2020 |
ST. THOMAS — Members of the Virgin Islands Economic Development Authority received a warm reception Thursday during their latest town hall on St. Thomas, as residents and business owners seemed largely impressed by the EDA panel’s know-how and eagerness to help. The town hall — the last of three in January; the others were held on St. Croix and St. John — was held at the Small Business Development Center in Nisky Center, and gave the nearly 40 people in attendance a quick rundown of the EDA’s current programs, services and benefits. Programs included the Enterprise Zone Commission, the Economic Development Bank and the Economic Development Commission, through which beneficiaries can receive a 90% reduction in corporate and personal income tax and 100% exemption on excise tax. While some attendees asked about specific services, a fair number urged the EDA to improve its outreach, expand its social media presence and attempt to change its public perception as an entity that simply gives breaks to corporations to the detriment of the people. Indeed, “the people don’t know that you’re here for them,” was a recurring theme from the crowd. EDA Chief Executive Officer Kamal Latham, along with Deputy CEO Wayne Biggs, insisted that efforts are underway to expand outreach in schools, enhance social media with videos and tout the benefits — and the accomplishments — of the EDA. Latham and his team received praise from the crowd over their presentation, and encouraged the public to take advantage of the current moment in the territory’s growth. “We see that we are at a particular point in history where we do have a fair amount resources from the U.S. government that is scheduled to come into this territory, and we have a wonderful array of gifts and talents that are here in the territory,” he said. “We have a great opportunity now to release those gifts and talents and connect them to those resources that are coming into the territory, so that we can really create the energy that is needed to take this economy to the next level.” Speakers on Thursday included Nadine Marchena-Kean, managing director of the Enterprise Zone Commission, who spoke of how Enterprise Zones can revitalize distressed neighborhoods and encourage entrepreneurship through tax incentives. She also spoke about increasing the sales of products made in the territory through greater exports and pop-up shops. Cusa Holloway, manager of the small business incubator, said her mandate was to help residents start a business or expand their existing business through loan programs. Margarita Greenidge-Benjamin, managing director of the tax incentive program, explained the various tax exemptions available. For more specifics on the EDA and what it offers, visit usvieda.org. — Contact A.J. Rao at 340-714-9104 or email ajrao@dailynews.vi. |
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| St. John residents get chance to learn about EDA programs | 01/31/2020 |
St. Johnians had a chance to learn more about the Economic Development Authority’s various programs at a Town Hall meeting Wednesday, and the team will give a final presentation tonight on St. Thomas. Several residents had questions about the tax incentives given to select businesses that agree to abide by certain conditions, including charitable contributions, and whether the EDC keeps a list of nonprofits approved to receive such contributions. “We’ve received a lot of inquiries similar to that,” said Margarita Greenidge-Benjamin, managing director of the tax incentive program. “We’re working through that process, because our clients also ask for that. So hopefully we’ll have that sooner than later.” At the EDA’s first Town Hall meeting on St. Croix on Tuesday, Charlita Shuster explained how her 37-year-old nonprofit dance organization, Music in Motion, did not survive after the hurricanes despite her pleas to Economic Development Commission beneficiary companies for financial help. “We need a little bit more stability of knowing where these people are giving their donations to,” Shuster said. Resident Pam Gan questioned the involvement of Caneel Bay in the program, and asked how much money has been forgone in taxes over the years. “Tax information is confidential,” said Assistant Chief Executive Officer Wayne Biggs, but he said the EDA does periodically release aggregate figures. Biggs also discussed the EDA’s industrial parks on St. Croix and St. Thomas, and how successful companies like Leatherback Brewery have been expanding. That brewery is moving into Puerto Rico and has plans to create a microbrewery in Havensight on St. Thomas, “so they’re expanding quickly,” he said. St. John also does not have an economic development zone like St. Croix and St. Thomas, which provide incentives for development in certain areas that are not otherwise available. Nadine Marchena-Kean, managing director of the Enterprise Zone Commission, said that “right now, because it’s the commercial zone, we’re looking at the outline of the historic Cruz Bay area, but that does not limit suggestions coming in from the community. EDA Chief Executive Officer Kamal Latham also highlighted the Vision 2040 program, funded through a $1.6 million federal grant, which will create an economic development “vision and plan for the entire territory,” with community input. The final EDA Town Hall meeting is set for tonight on St. Thomas from 6 to 9 p.m. at the V.I. Small Business Development Training Center in Nisky Center. For more information, visit www.usvieda.org. — Contact Suzanne Carlson at 340-714-9122 or email scarlson@dailynews.vi. |
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| Public invited to EDA events | 01/31/2020 |
The Economic Development Authority is holding town hall meetings on all three islands so residents and business owners can learn more about economic opportunities in the territory, according to a news release issued Thursday. The first meeting is set for 6 to 9 p.m. Tuesday at the University of the Virgin Islands Great Hall on St. Croix. The second meeting is scheduled for 6 to 8 p.m. Wednesday at the St. John Legislative Annex conference room in Cruz Bay, St. John The third meeting will be from 6 to 9 p.m. Thursday at the V.I. Small Business Development Training Center in Nisky Center on St. Thomas. “Attendees will also have opportunities to ask questions and speak one-on-one with VIEDA team members,” according to the news release. “Established since 2001, the VIEDA is a semi-autonomous governmental instrumentality responsible for the promotion of economic development in the U.S. Virgin Islands. Four entities exist under its umbrella: the Economic Development Commission, Economic Development Bank, Economic Development Park Corporation and the Enterprise Zone Commission.” According to the news release, “These entities provide a wide range of programs and services, including but not limited to, tax incentives for large and small businesses; tax credits and exemptions for property and neighborhood revitalization; low-interest loan and loan-guarantee programs for local, small and medium-sized businesses and space for lease by businesses at industrial parks on St. Thomas and St. Croix. VIEDA offices are located on St. Thomas and St. Croix.” Authority CEO Kamal Latham, Assistant CEO Wayne Biggs Jr., Managing Director for Economic Development Margarita Benjamin, and other team members will lead the town hall meetings with a discussion about economic development and the purpose of the Economic Development Authority. Economic development practitioners from other authority divisions will also be present to share information and answer questions about its programs and services, according to the news release. To learn more, contact the Economic Development Authority office on St. Thomas at 340-714-1700, ext. 1133, or send an email to Ja’Nelle Forbes at jforbes@usvieda.org. — Contact Suzanne Carlson at 340-714-9122 or email scarlson@dailynews.vi. |
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| EDA holds first of three town hall meetings | 01/31/2020 |
The V.I. Economic Development Authority held the first of three town hall meetings Tuesday on St. Croix, and will hold a second meeting tonight on St. John, with a third is set for Thursday evening on St. Thomas. “We exist to help the people of the territory. The objective that we look at is, what can we do to help the people?” said EDA Chief Executive Officer, Kamal Latham. “Most people think it’s only the EDC, the economic development commission that offers tax benefits, but the enterprise zone provides for tax credits or tax exemptions for revitalization of a building that you may own in Frederiksted or in Christiansted,” said Nadine Marchena-Kean, managing director of the Enterprise Zone Commission. Monique Samuel, acting director of the Economic Development Bank, said business loans are available but “we’re a bank of last resort,” and applicants must prove they’ve already been rejected for a bank loan. Cusa Holloway, manager of the small business incubator, said her program’s mission “is to provide a critical bridge” between the EDA and other programs, and has provided over 4,000 hours of consulting to businesses that grossed over $5 million in revenue since the program began in 2013. Margarita Greenidge-Benjamin, managing director of the tax incentive program, explained the various tax exemptions available, and compliance officer Joy Penn explained that companies which do not comply with their beneficiary agreements could be made to repay tax benefits. Assistant CEO Wayne Biggs detailed the industrial parks on St. Thomas and St. Croix, which are “pretty much filled right now,” but need additional infrastructure improvements. For more information, visit www.usvieda.org. — Contact Suzanne Carlson at 340-714-9122 or email scarlson@dailynews.vi. |
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VIEDA Holiday Schedule |
12/26/2019 | ||
| TOURISM LEADERS TO BE RECOGNIZED AT LEADERSHIP AWARDS IN MIAMI | 11/14/2019 |
For Immediate Release Source: Caribbean Media Exchange, Inc. Contact:
TOURISM LEADERS TO BE RECOGNIZED AT LEADERSHIP AWARDS IN MIAMI MIAMI (November 3, 2019) - Three respected Caribbean tourism leaders will be recognized for their leadership achievements at the 2019 Caribbean Media Exchange (CMEx) Leadership Awards slated for December 14 in Miami. Muriel Wiltord, Director of The Americas for the Martinique Promotion Bureau; Commissioner of Tourism of the U.S. Virgin Islands (USVI) Joseph Boschulte; and Frank Comito, Director General and CEO of the Caribbean Hotel and Tourism Association (CHTA) are among the list of honorees for the year-end fundraiser, which will raise resources for Caribbean education. Born in Senegal, Muriel Wiltord's parents were originally from Martinique. She pursued her graduate studies in Paris and taught tourism at University of La Sorbonne for five years. After moving to New York in 1987, she became Director of the Martinique Promotion Bureau in New York where she establishes and maintains cultural and tourism ties between the United States and Martinique. Named one of the "100 most influential women of the tourism industry in the United States" by Travel Agent magazine, Wiltord was invested as a Knight of the National Order of Merit and as an ambassador of Martinique tourism.
Commissioner Joseph Boschulte, appointed to USVI Governor Albert Bryan Jr.'s cabinet to lead the tourism department, has vast experience in business and in government as well as a notable record of improving organizational performance and growth. He formerly served as President and CEO of The West Indian Company Limited (WICO), where he currently serves as Chairman of the Board of Directors. The Commissioner, who earned an MBA from Darden School of Business at the University of Virginia, held high-level positions in transportation, utilities, telecommunications, finance, government development and investment banking. A former Vice President of Institutional Advancement at the University of the Virgin Islands, Commissioner Boschulte previously served as Senior Vice President, Corporate Finance with Wachovia Securities in Atlanta, and Vice President of Banc of America Securities in Charlotte and New York City.
Frank Comito has more than 35 years of experience in economic development, organization management, government affairs, project management, workforce development, research, and in providing business and investor support in The Bahamas, the United States, the U.S. Virgin Islands and the Caribbean. He served as Executive Vice President for the Bahamas Hotel and Tourism Association for more than 10 years. Comito has held executive positions with the Nassau Tourism and Development Board, the National Alliance of Business in Washington, DC, and earlier with the St. Croix and St. Thomas-St. John Chambers of Commerce. Regionally, he was President of the Caribbean Society of Hotel Association Executives, a long-serving member of CHTA's Board of Directors, and has extensive experience in crisis planning and recovery. He was also Deputy Chairman of the Nassau Airport Development Company where he helped guide a $410 million investment in upgrading the airport. This year's CMEx honorees include leading Caribbean journalist and entrepreneur Janet Silvera; veteran airline executive Christine Kennedy of Delta Air Lines; Chef José Andrés of World Central Kitchen; attorney and philanthropist Marlon Hill; and Caribbean-American television anchor/reporter Neki Mohan of WPLG, ABC TV's local affiliate in Miami. The event, which will feature the musical talents of Trinidad and Tobago's Lord Relator and Virgin Islands steel pan player Stan Brown, will help support Bahamian scholars who have been impacted by the devastating Category 5 storm which lashed The Abacos and Grand Bahama in September. Providing a neutral platform for the industry's movers and shakers to address pressing tourism concerns, CMEx, which is partnering with the Caribbean Hotel and Tourism Association Education Foundation (CHTAEF) and the Errol and Nita Barrow Educational Trust in Miami, also lends a helping hand to Caribbean and American communities by sharing expertise, financial and in-kind assistance. The 2019 CMEx Leadership Awards is supported by Bahamas Ministry of Tourism and Aviation, International Career and Business Alliance (ICABA), Island Syndicate, Marketplace Excellence, Tropical Attractions, Inc., and the U.S. Virgin Islands Department of Tourism.
For tickets, visit www.tinyurl.com/CMEx-Awards-2019. About Caribbean Media Exchange, Inc. (CMEx) CMEx's mission is to support and develop the ability of the media, government, the travel and tourism industry and communities to consider the importance of tourism in sustainable development, while lending a hand to the communities involved by sharing relevant expertise, financial and in-kind assistance.
For further information, visit www.cmexmedia.org. |
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| U.S. Virgin Islands is back in business | 09/12/2019 |
Back in 2017, the United States Virgin Islands experienced two major hurricanes. Both Category 5 storms, Hurricane Irma and Hurricane Maria blew through the islands just weeks apart, causing widespread damage and destruction to St. Croix, St. John, and St. Thomas, with extensive damage to St. Croix and its cruise port... |
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| USVI Ready For The Limelight | 09/12/2019 |
It was no coincidence that representatives from the U.S. Virgin Islands were in Toronto yesterday (Sept. 5) to promote the perks of filming in the Caribbean destination during the Toronto International Film Festival. Made up of St. Croix, St. John, and St. Thomas, the multi-island destination was featured in feature films like The Shawshank Redemption, Twilight Saga: Breaking Dawn and The Curious Case of Benjamin Button and its backdrops and scenery have doubled for other locations from Mexico to the Greek islands... |
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Ritz-Carlton, Set For October Reopening, Announces Hiring Opportunities |
07/30/2019 |
