U.S. Virgin Islands Featured as a Strategic Business Hub in Area Development Magazine

Charlotte Amalie, St. Thomas, U.S. Virgin Islands – December 20, 2024 – The U.S. Virgin Islands (USVI) and its business development initiatives, managed by the Virgin Islands Economic Development Authority (VIEDA), have been prominently featured in the latest edition of Area Development Magazine, a leading publication focused on corporate site selection and relocation. The article, titled “Behind the U.S. Virgin Islands’ Plans to Become a Strategic Hub,” highlights the Territory’s unique advantages as a prime destination for business investment and economic growth.

The article emphasizes the USVI’s competitive tax incentive programs, its strategic geographic location providing access to global markets, and its robust logistics infrastructure. A key focus is placed on the South Shore Trade Zone (SSTZ) on St. Croix, an important economic development initiative managed by VIEDA’s Enterprise Zone Commission. The piece underscores the substantial opportunities the SSTZ offers in attracting new industries, fostering public-private partnerships, and enhancing the region’s economic landscape. It also explores the findings of a recent shipyard feasibility study, which indicates significant economic potential for establishing a facility at the SSTZ. This development is expected to boost trade, create jobs, strengthen workforce development, and position St. Croix as a key connectivity hub across the Americas and the Caribbean.

“This feature provides a valuable platform to showcase the USVI as a dynamic and forward-thinking destination for business investment,” said Wayne L. Biggs, Jr., CEO of VIEDA. “The South Shore Trade Zone and the findings from the shipyard feasibility study are just a few examples of the Territory’s ongoing commitment to fostering growth, innovation, and collaboration within the global economy.”

The article includes insights from CEO Biggs, Nadine Marchena Kean, managing director of the Enterprise Zone Commission, and Jennifer Nugent-Hill, Director of Government and Community Affairs at Tropical Shipping and former Assistant CEO of VIEDA.

To read the full article, which further highlights the Territory’s efforts to enhance its economic potential, click here.

For more information about VIEDA’s programs and initiatives, visit www.usvieda.org or email [email protected].