DOING BUSINESS THE U.S. VIRGIN ISLANDS
U.S. Virgin Islands Economic Development Authority
“The U.S. Virgin Islands boasts robust tax incentives, a skilled workforce, and U.S. ports to keep businesses globally connected. Our St. Croix trade zone has over 300 acres of available green space to attract manufacturing/assembly, warehousing, and transshipment activities.”
“— Wayne L. Biggs, Jr., Chief Executive Officer,
U.S. Virgin Islands Economic Development Authority
FAST FACTS
Population: 105,870¹
GDP (2020): $4 billion²
¹World Bank
²Federal Reserve Bank of New York
INCENTIVES
The Economic Development Commission Program and the South Shore Trade Zone Program, both sanctioned by the U.S. Government, offer a 90% reduction in corporate income taxes, a 100% exemption in real business property taxes, and significant reductions in customs duties.
TARGETED GROWTH SECTORS
Professional/Technical Services: This is a growing sector in the USVI. We seek companies in IT, financial services, consulting, customer service, and back-office operations.
Coastal and Ocean Resources: The blue economy is vitally important to the USVI. Boat building/repair, fisheries, shipping, ports, dredging, transport, and related businesses are sought to enhance and sustain this sector.
Light Manufacturing and Assembly: Diversification in USVI manufacturing, currently dominated by rum production, is desired. Promising opportunities exist in manufacturing regional foods and resilient building materials.
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