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VIEDA official touts Territory’s business incentives to tax advisors at national symposium in Virginia

CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – October 3, 2014 – The Virgin Islands Economic Development Authority (VIEDA) recently participated in the Credits & Incentives Symposium in Arlington, Virginia. This three-day symposium, hosted by the Institute for Professionals in Taxation, brought together economic development practitioners from the United States and approximately 300 tax advisors from companies in various industries to discuss the issues related to credits and incentives for businesses.

At the symposium, the VIEDA’s Chief Executive Officer Percival E. Clouden delivered a presentation on the Government Panel along with six other economic development leaders from around the country. Clouden expounded upon incentive compliance initiatives that would safeguard the credibility of our tax credits and tax incentives through proper compliance. The VIEDA also took advantage of this opportunity to network with tax advisors – who are also site selection consultants to potential investors – to promote the U.S. Virgin Islands’ tax incentive program and the overall benefits of the doing business in the Territory.

“This symposium afforded the VIEDA an opportunity to engage with consultants to various business leaders and other economic development professionals while we represented the U.S. Virgin Islands and promoted our Territory’s variety of business incentives that are available for potential investors,” said Clouden.

Clouden also shared with attendees the USVI’s recent successes in attracting new and expanded businesses, the economic and financial approach and actions the VIEDA is taking to continue to be competitive in the race for new industries, trends and results they are seeing from past projects and the challenges and political realties of working on these deals in various industries.

The VIEDA also participated as an exhibitor among various economic development organizations from across the United States.

Founded in 1976, the Institute for Professionals in Taxation is an educational association serving over 4400 members representing approximately 1450 corporations, firms throughout the United States and Canada.

For more information on the VIEDA’s participation at this symposium, contact the V.I. Economic Development Authority at 340.714.1700. To learn more about the Credits & Incentives Symposium, visit http://www.ipt.org/IPT/Programs/Credits_Incentives/IPT/Programs/Credits_and_Incentives.aspx?hkey=b8f59e1a-3426-4b74-b84e-6a1dcdfaf9b2.

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