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VIEDA’s Economic Development Commission to host the 2014 EDC Beneficiary Summit

CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – August 11, 2014 – The V.I. Economic Development Commission (EDC), an entity of the V.I. Economic Development Authority (VIEDA), will be hosting the 2014 V.I. Economic Development Commission Beneficiary Summit for current beneficiaries and representatives of various organizations and government agencies that assist in supporting the Territory’s economic initiatives and development. This summit will be held from 9:00 a.m. to 3:30 p.m. on Tuesday, August 12, 2014 at Divi Carina Bay All Inclusive Beach Resort & Casino on St. Croix; and on Thursday, August 14, 2014 at Frenchman’s Reef & Morning Star Marriott Beach Resort on St. Thomas.

With the theme, “Our EDC Beneficiaries Add Value to the Economy”, this summit will focus on the EDC Program’s value and its importance to the Territory’s economic growth and viability. Meaningful discussions will also be held on current economic trends, updates on policies, and the importance of beneficiary compliance with certificates, all of which have an impact on the EDC Program. Despite the complex issues facing the Territory, this summit intends to highlight the EDC Program’s potential for growth, and how the VIEDA can assist in enhancing this Territory’s economy.

According to VIEDA’s Chief Executive Officer Percival E. Clouden, “Each year, this ongoing forum presents another exciting opportunity to meet with our economic development partners. This is one of the key ways we can to solidify our existing relationships with our public and private sectors. This engaging event can only strengthen our Territory’s economy as we continue to seek the best ways to support our partners and differentiate ourselves in this global marketplace to remain as an attractive destination for investors and residents to live and do business.”

The keynote speaker is the Honorable John P. deJongh Jr., Governor of the U.S. Virgin Islands. Other officials on the program include the Honorable Janette Millin Young, Virgin Islands Senator and chairperson of the Committee on Economic Development, Agriculture, and Planning.

This annual summit aims to continue to be a key forum for both EDC beneficiaries and local government agency representatives as they gather and exchange information that is relevant to the EDC Program.

According to Stephanie J. Berry, VIEDA’s director of Compliance for the Economic Development Commission, “The progress and growth associated with our efforts to improve economic development can only occur when we do it together. We must aggressively protect and grow existing USVI businesses while competing successfully against other markets for much needed new job creation, diversification from traditional industries, and expansion of our tax base. We need to continue to enhance what we are doing well to foster more business growth in the Territory.”

Welcoming and opening remarks will be provided by VIEDA’s EDC Director of Compliance Stephanie J. Berry, VIEDA’s Chairman of the Board and USVI Commissioner of Labor Mr. Albert Bryan Jr., and VIEDA’s Chief Executive Officer Percival E. Clouden.

The keynote speaker and other officials will be joined by speakers from the VIEDA and VIEDA’s Economic Development Commission, and representatives from the V.I. Department of Licensing and Consumer Affairs, V.I. Bureau of Internal Revenue, U.S. Customs and Border Protection Services; Division of Securities; Office of the Lieutenant Governor’s Division of Banking and Insurance and the Division of Corporation and Trademarks, Office of the Tax Assessor, V.I. Department of Labor, and the V.I. Board of Education.

The closing plenary will be led by VIEDA’s Assistant Chief Executive Officer/Chief Operating Officer Jennifer Nugent-Hill.

This summit will also include representatives of EDC Beneficiaries along with representatives from various industry sectors that help these businesses grow and succeed. For more information, contact EDC Director of Compliance Ms. Stephanie J. Berry at 340.773.6499.

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