U.S. Virgin Islands Economic Development Authority Releases a New Series of Videos Touting America’s Business Paradise

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The new video series showcase the beauty of the USVI and the benefits of operating a business in the territory.

The U.S. Virgin Islands Economic Development Authority (USVIEDA) recently launched a new series of videos that showcase the U.S. Virgin Islands’ favorable business climate. The promotional videos tell an incredible story about the opportunities that make the U.S. Virgin Islands (USVI) a place ideal for companies to expand or relocate.

“The new series of videos were designed to emphasize the support and guidance USVIEDA provides to businesses looking to locate in the U.S. Virgin Islands,” said Wayne L. Biggs, acting chief executive officer, U.S. Virgin Islands Economic Development Authority. “The videos showcase the beauty of the territory, and give an overview of our strong workforce, available incentives, and the benefits of operating a business in the USVI.”

USVI, America’s Business Paradise, is among the most competitive locations for companies looking to start a business, relocate, or expand. The new videos promote economic development opportunities in the USVI and highlight USVIEDA’s efforts in support of business expansion. Among the vast array of benefits is tax incentives, such as up to 90% percent reduction in personal and corporate income tax, up to 100% exemption on gross receipts, and business property tax.

Additionally, one of the strongest assets the USVI has to offer companies is a skilled and educated workforce. The University of Virgin Islands (UVI), a nationally accredited university with campuses on St. Thomas and St. Croix, offers an array of degree programs in business, education, social science, nursing, and science and mathematics. UVI is also home to one of the nation’s top aquaponics programs. UVI has strong ties with the business community and often collaborates with local industry.

“U.S. Virgin Island is an ideal place for entrepreneurs seeking a healthy work-life balance. Being able successfully launch the Virgin Island’s first distributing brewery and hit the beach after work is priceless to me,” said Packy Gilbert, Managing Partner at Leatherback Brewing Co.

To view the new video series and to learn more about USVI’s target industry sectors, including financial services, back office, marine, and manufacturing, visit, http://www.usvieda.org.

The United States Virgin Islands Economic Development Authority (USVIEDA) is a semi-autonomous government organization responsible for the promotion and enhancement of economic development in the U.S. Virgin Islands. The organization acts an umbrella authority that integrates and unifies the functions of the five agencies under one executive board in order to maximize efficiency and enhance economic development in the Territory. The five major agencies are the Economic Development Commission; Virgin Islands Economic Park Development Corporation (formerly the Industrial Park Development Corporation); Economic Development Bank (formerly the Government Development Bank and the Small Business development Agency); Enterprise Zone Commission; and the Economic Development Commission (EDC). The EDC offers unique tax incentives for qualified businesses. Benefits of the EDC program include a reduction of up to 90% of personal and corporate income taxes and up to a 100% exemption on excise, business property and gross receipt taxes. For additional information visit, USVIEDA.

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