As part of ongoing efforts to implement Vision 2040, the territory’s 20-year economic development strategy and action plan, the Virgin Islands Economic Development Authority (USVIEDA) has launched a global marketing campaign to attract new investment to the U.S. Virgin Islands in the target industry sectors identified in Vision 2040.
On August 17, 2023, Chamber leadership met with stakeholders from USVIEDA and were introduced to their new agency, OCO Global Limited, to discuss their development of a global marketing campaign to promote their programs and the Territory, develop strategies for foreign direct investment and the South Shore Trade Zone.
The South Shore Trade Zone Program is VIEDA’s newest economic development tool, which offers attractive tax incentives for up to 20 years to eligible companies that start, relocate or expand into the designated area on St. Croix’s south shore. The aim of this segment of the campaign is to identify, pursue and attract anchor activities to the trade zone that will transform St. Croix into a logistical hub for trade, industry and commerce in the region.
As we continue discussions with the USVIEDA and OCO, input from St. Croix Chamber of Commerce members will be integral, and we encourage our members to join the conversation and leave your comments below. What can we do to help attract investors within the specific industries who are sought not only for the trade zone but also to fulfill the aspirational goals of Vision 2040?
