CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – December 9, 2022 — Wayne L. Biggs, Jr., chief executive officer of the Virgin Islands Economic Development Authority (VIEDA), announces that a Public Hearing is scheduled for the Virgin Islands Economic Development Commission, a subsidiary of the VIEDA, at 9am on Tuesday, December 13, 2022 on various requests submitted by application to the VIEDC.
Public Hearing: At the public hearing, the Board of Directors will hear presentations - and will consider applications - from representatives of the following businesses:
- Coconut Grove, LLC (New Small Business Application):
This is a U.S. Virgin Islands limited liability company organized on May 1, 2017 that is seeking Economic Development tax incentives as a small business in industry Category III: Agricultural Guesthouse and Recreation Facility small business.
- Ferrer, LLC (Modification/Extension of Tax Incentives Application): A U.S. Virgin Islands limited liability company organized on October 12, 2010. is an existing VIEDC Beneficiary engaged as a Category IV: Designated Services business focusing on providing an evaluation center for law firms to assess potential victims of mass torts, including prescription drugs, defective products, or hazardous chemicals, and obtaining the necessary records and other supporting materials for persons who have been identified as injured victims.
- Morabeza Capital Management, LLC (Change in Ownership Structure):
This is a U.S. Virgin Islands Limited Liability Company organized on April 14, 2021 that was previously granted tax incentives on October 13, 2022, to own and operate a Category IV – Designated Service Financial Business engaging in a diversified array of financial analysis, advisory, consulting and family office support services for high-net-worth families located outside the U.S. Virgin Islands.
- Spyglass Capital, LLC (New Application): This corporation is a U.S. Virgin Islands limited liability company that was organized on February 4, 2022. Spyglass Capital seeks Economic Development tax incentives as a Category IV designated service business. Spyglass Capital shall serve the investment, financial/accounting fiduciary, philanthropic, and administrative interests of a multi-generational family and its related entities.
- STR Management, LLC (Modification/Extension Tax Incentive Application):
This is a U.S. Virgin Islands (“USVI”) limited liability company that was organized on December 7, 2011, and is an existing VIEDC Beneficiary engaged in a Category IV designated service business providing financial management and consulting services and human resources management services to clients located outside the USVI.
- Tysam Tech, LLC (New Small Business Application): This is a U.S. Virgin Islands (“USVI”) limited liability company that was organized in November of 2017. Tysam seeks Economic Development Commission tax incentives as a Category IV designated services small business for its provision of engineering and environmental services that meets the unique needs of island-based businesses, government agencies and industrial facilities.
Decision Meeting: All interested persons are also notified that a decision meeting for the VIEDC (Applications and Compliance matters) is scheduled following the public hearing.
The VIEDA advises the public that the VIEDA Board of Directors may go into executive session with respect to any decision at any time during the meetings as provided in 1 V.I.C. § 254.
This meeting will be conducted via Zoom, a software-based platform for video and audio communications.
*Registration is required to participate in the Public Hearing and Governing Board Decision meeting.
Interested individuals are invited to register and join the meeting, via Zoom, through the following link:
Zoom Registration Link: https://us02web.zoom.us/meeting/register/tZ0qdOypqTktEtFUSjmN_YiRMzP3Iswu_wsg
After registering, individuals will receive a confirmation email containing information about joining the meeting. Meeting registrants are reminded that the link they receive after registration should not be shared with anyone as all persons are required to register on their own behalf.
As Board meeting agendas become available, they can be found on the VIEDA website at www.usvieda.org/about-usvieda/board-directors/board-meeting-agenda.
Following the meeting, summaries of the Board's decision(s) will also be available to the public on the VIEDA website at https://usvieda.org/about-usvieda/board-directors/board-meeting-summaries.
For more information, please email info@usvieda.org.
“The Bryan-Roach Administration is investing in the Territory’s people, infrastructure and future through transparency, stabilizing the economy, restoring trust in the government and ensuring that recovery projects are completed as quickly as possible. Visit http://transparency.vi.gov .”