The U.S. Virgin Islands is indeed a beautiful place, rich in cultural and economic history. This is evident in the towns of Christiansted and Frederiksted on the island of St. Croix and the neighborhood of Savanne on the island of St. Thomas. Many of the buildings are over 150 years old, and some of the oldest families in the Virgin Islands originated from these areas. These were mixed-use neighborhoods with both homes and businesses coexisting in the same buildings. They were vibrant living neighbohoods. However, over time many of these buildings have fallen in disrepair.

The Enterprise Zone Program law was enacted on September 14, 1999 through Act No. 6294. It mandates that the blighted and severely distressed communities in the U.S. Virgin Islands, as designated by the Governor of the Virgin Islands, that were once socially and economically vibrant communities would be revitalized. The legislation provides for tax incentives and economic development program benefits clear and free of regulatory barriers to economic growth. Importantly, the law calls for collaboration amongst public, private and non-profit organizations to accomplish the envisioned outcome.

The Enterprise Zone program provides incentives for businesses to invest in “severely distressed” Enterprise Zone areas. It also provides jobs for the residents of such areas by offering tax benefits and regulatory relief. To date, the areas identified are on St. Croix and St. Thomas.

It is hoped that the launching of an aggressive five-year strategic plan, with clearly delineated benchmarked goals and a marketing campaign to enlighten stakeholders of the Zones, will assist in meeting the mandates of the Enterprise Zone Program.

At present there are three designated zones: Christiansted, Frederiksted and Savanne.