The U.S. Virgin Islands (USVI) and initiatives spearheaded by the Virgin Islands Economic Development Authority (VIEDA) are prominently showcased in the latest issue of Area Development Magazine, a leading publication in corporate site selection and business relocation. The feature article “Behind the U.S. Virgin Islands’ Plans to Become a Strategic Hub” highlights the Territory’s unique position as an emerging destination for business investment and economic growth.
The article explores the USVI’s competitive tax incentives, strategic geographic location providing access to global markets, and robust logistics infrastructure. It specializes in the South Shore Trade Zone (SSTZ) on St. Croix, the Territory’s newest economic development initiative managed by VIEDA’s Enterprise Zone Commission. This initiative is lauded for its potential to attract new industries, cultivate public-private partnerships, and bolster the region’s economic landscape. Additionally, the piece examines findings from a recent shipyard feasibility study, which unveiled the substantial financial benefits of establishing a shipyard facility in the SSTZ. The study highlights opportunities to boost trade, create jobs, advance workforce development, and position St. Croix as a central hub for connectivity across the Americas and the Caribbean.
“This feature is a valuable opportunity to showcase the USVI as a dynamic, forward-thinking destination for business investment,” said Wayne L. Biggs, Jr., CEO of VIEDA. “The South Shore Trade Zone and the findings of the shipyard feasibility study reflect our commitment to driving growth, innovation, and collaboration within the global economy.”
CEO Biggs’s insights are complemented by contributions from 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. Together, they illuminate the Territory’s strategic initiatives and commitment to economic development.
The full article can be accessed here. For more information about VIEDA’s programs and initiatives, visit www.usvieda.org or email [email protected].
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