CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – May 27, 2025 – The U.S. Virgin Islands was promoted as a prime destination for business investment by the Virgin Islands Economic Development Authority (VIEDA) at the 11th Annual SelectUSA Investment Summit. This summit was hosted by the U.S. Department of Commerce from May 11–15, 2025, at the Gaylord National Resort & Convention Center in National Harbor, MD.

As an Exhibitor and Gold Sponsor of the summit, in collaboration with the University of the Virgin Islands’ Research and Technology Park, the VIEDA showcased the Territory’s business opportunities and tax incentive programs, joining hundreds of U.S. economic development organizations, investors, and government officials working together to attract business to the U.S. and its territories.

See You Tube video link here for the VIEDA’s and RTPark’s participation at the SelectUSA Investor Summit titled, “VIEDA x SelectUSA: Showcasing the USVI on the Global Investment Stage”: https://www.youtube.com/watch?v=RiAnSZYyBLk.

“The annual SelectUSA Investment Summit offers the VIEDA team a valuable platform to showcase the U.S. Virgin Islands as a prime destination for business and investment. Through strategic networking and one-on-one meetings, the team engaged with investors from the U.S., Asia, Africa, and Europe to highlight the advantages of doing business in the USVI. These investors expressed interest in sectors such as manufacturing, technology, and hotel development,” said VIEDA Assistant Chief Executive Officer Dwayne A. Benjamin. 

“Some investors showed strong interest in the South Shore Trade Zone on St. Croix. The summit proved to be a valuable opportunity as VIEDA continues to actively promote its programs through strategic engagements with organizations like SelectUSA—aligning with both the Territory’s investment strategy and the “America First” mandate, supporting the long-term economic growth of the U.S. Virgin Islands,” added VIEDA ACEO Benjamin.

According to SelectUSA, this year was the largest investment summit to date with record levels of attendance and engagement from 5,500+ attendees, 100+ international markets, and 54 U.S. states and territories. The summit attracted 1,100+ economic development organization representatives and 2,700+ international delegates. 

Joining VIEDA Assistant CEO Benjamin were Margarita A. Benjamin, managing director, Economic Development; Nadine Marchena Kean, managing director, Enterprise Zone Commission; Celina D. Morris, director, Marketing; and Kyle C. Thomas, program manager, Marketing & 2040 Vision. This economic development team shared information about the USVI’s tax incentive program, the South Shore Trade Zone Program on St. Croix, other business opportunities, and the USVI’s infrastructural assets to attract new investors to the USVI. See video link here: https://www.youtube.com/watch?v=RiAnSZYyBLk.

Administered by V.I. Economic Development Commission, the VIEDC tax incentive program offers 90 percent exemptions on corporate and personal income tax, 100 percent exemptions on property, excise, & gross receipts tax, and customs duties; and 83 percent reduction on customs duties decrease from 6 percent to 1 percent. In exchange, eligible businesses participating in this program must create employment opportunities and generate tax revenues in the USVI. Currently, there are at least 100 businesses actively participating in the VIEDC tax incentive program.

With the SSTZ located on approximately 367 acres of relatively flat ocean-front land just south of the airport on St. Croix, the SSTZ Program offers the same benefits except with a total exemption from  customs duties. In 2024, the VIEDA Board of Directors approved the first SSTZ Program application from In the Mix Cakery, a St. Croix-based business owned by local residents.

Along with a landscape for connections to be made, the SelectUSA Investment Summit provided a robust agenda that included plenary, academy, and industry spotlight sessions on various topics for business leaders. These topics included, but were not limited to, best practices for expanding an established company in the U.S., delivering a pitch to secure capital investment and build a support network, targeting the best source of capital for a startup, and having cultural awareness and understanding on how business is conducted in the United States in comparison to other countries.

The SelectUSA Investment Summit is the highest profile event in the United States to facilitate business investment by connecting thousands of investors, companies, economic development organizations (EDOs), and industry experts to make deals happen. It is a one-stop shop for companies considering expanding to the United States and provides economic development organizations with the opportunity to meet directly with international companies to facilitate investment deals.

The SelectUSA Investment Summit has attracted thousands of international companies and economic development representatives generating over $135 billion in new investment projects supporting more than 105,000 jobs across the United States and its territories. 

For more information about the SelectUSA Investment Summit, visit https://www.selectusasummit.us/About/About-the-Investment-Summit .

For more information about the VIEDA, visit www.usvieda.org . Learn more about the Southshore Trade Zone at https://usvieda.org/south-shore-trade-zone.