All heads of cabinet departments and agencies should provide the governor with three of the most substantive actions that they could take to improve services to the business community. This would produce over 100 changes (in addition to the initiatives described in this report) and send a very clear message that the public sector is serious about improving the business climate.

To achieve Vision 2040 business growth projections, establish a Business Climate Commission with majority private sector representation that would be provided resources needed to thoroughly review, assess fiscal impact, and propose to the Executive and Legislative branches of government changes to the tax and regulatory environment, and recommend supportive public/private initiatives to improve the business climate. The Commission should include appropriate government officials whose departments, employees, regulations, and actions impact the process of establishing and operating a business. The government officials remain on and the businesspeople are replaced over time with new private sector representatives which refreshes the process of identifying problems and solutions.

 Undertake a continuous process of team building and training for all government employees who interact with the business development and operations process. It is clear from interviews, that many government employees don’t think of themselves as part of the economic development team, but they need to think that way because their actions can seriously impede economic and business development. They need to be viewed as open and enthusiastic problem solvers, and patiently listen, question, learn, and respond with accurate and complete service.

Establish maximum 10 business day turnaround for receiving a business license; if there is no action taken in that period, then the license is automatically approved.

As part of a constant performance improvement effort, many places utilize electronic feedback and follow-up surveys (a modern-day version of the “How Did We Do?” hard-copy forms) in every instance where businesspeople and residents interact with government employees. Make sure this kind of feedback is built into all departments of government. These surveys remain anonymous and are evaluated frequently to identify where improvements are needed.

Address the underground economy by developing supportive outreach and specific, system-wide approaches that lead to licensing, tax payments, and compliance.

 Develop a research and development tax credit program.

Develop visitation training and certification for workers in hospitality sectors and share key messages with the public so that visitors to the Territory feel welcomed.

Establish incentives to encourage formation of angel funds by residents and those living outside the Territory, with emphasis on diaspora groups, to benefit pre-early stage businesses.

Develop formal arrangements to partner with the World Bank, CARICOM, and other Caribbean groups that are advancing initiatives to help entrepreneurs succeed.

Enhance export technical assistance capacity to substantially increase the number of businesses exporting products.

The USVIEDA should establish a best practices Business Expansion and Retention program with dedicated staffing and funding to track individual business needs and responses via a customer management relationship database.

Working in close collaboration with the chambers of commerce, the USVIEDA should conduct twice a year periodic temperature taking and appreciation days for the business community where trained representatives fan out and visit as many businesses as possible in a single day.

Conduct a business survey on an annual basis.  By conducting the survey every year, the USVI will be able to see progress toward a goal of achieving majority support from businesses. Consider simplifying the survey. As an alternative, a “Question of the Month” approach can be used, which spreads out the survey over time, reduces the time needed to complete it each month, and becomes a form of regular communication with the Territory’s business community.

Conduct a series of business town halls at least once a year but ideally more frequently.  They can be done as an invitation to all businesses or segmented by business type. This will offer the USVIEDA leadership qualitative as well as quantitative input. These can be used to explore in more detail important topics that emerge from the “Question of the Week.”  Just as important, even for the businesses that do not participate, it will convey a sense that the USVIEDA and its partners are listening.

Increase frequency of communications between the public and private sectors with quarterly e-newsletters and publications to the entire licensed business community; fact-based updates on progress in addressing business climate and related quality of place and life issues (energy, crime, etc.), profiles of/testimonials by successful businesses in the territory, important calendar notes for the quarter ahead, and information on available services and programs, particularly when they change. These publications could also be distributed to the USVI diaspora as a means of maintaining contact and encouraging people to return to the Territory and operate a business there.

Conduct an ongoing local media relations campaign, promoting through the press the newsworthy USVIEDA, Research and Technology Park (RTPark), Small Business Development Center (SBDC), and other economic initiatives, progress, and testimonials.

Publicize locally the results of the public relations effort nationally.  Get a positive feature in the Wall Street Journal or a trade publication about doing business in the Territory.  Do not assume the businesses in the Islands have seen it.  Play it back to them, letting it serve as a validation for their own decision to operate in the Territory.

Conduct receptions in diaspora-concentrated cities in the United States, including: Washington, D.C., Atlanta, Houston, and New York.

Host annual receptions on St. Thomas and St. Croix for the majority of diaspora who return for a visit (often during the holidays) at least once a year.

Conduct semiannual diaspora town halls, similar to those done for this report, hosted by the USVIEDA CEO or even, on occasion, by the governor.

Develop a new brand for economic development that reflects the targeted industries and new direction for the USVI.

Develop Territory-wide Annual Economic Development Scorecards as important measuring sticks for evaluating progress, including metrics and a benchmarking system for reporting small business and entrepreneurial services and customer satisfaction measures.

Develop resources for improving storefronts in neighborhood centers.