CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – December 11, 2023 — 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 (VIEDC), a subsidiary of the VIEDA, at 9:00 a.m. on Thursday, December 14, 2023.
During the Public Hearing, the Board of Directors will hear testimony from four (4) companies newly seeking VIEDC tax incentives. These new applications were submitted by:
PL Partners, LLP, a family office that applied as a Category IV Designated Services Business to provide management and consulting services on St. Thomas;
Sail Rock Investment, LLC, a family office that applied as a Category IV Designated Services Business to provide private equity investment on St. Thomas;
United Investors, LLC d/b/a Concrete Masters that applied as Category II Manufacturing concrete plant on St. Croix; and
VI Electron, LLC that applied as both a Category III Utility (alternative energy power generation) company and a Category IV Designated Services Business that will provide investment consulting and management services on St. Thomas, St. John, and St. Croix.
Representatives from one (1) current VIEDC beneficiary, DIAM Management, Inc., a Category IV Designated Services Business providing financial and management consulting and advisory services on St. Croix, will also testify on its application for a modification of benefits.
Following the Public Hearing, Decision Meetings will be held for the Enterprise Zone Commission and the Economic Development Park Corporation, as well as for VIEDC application and compliance matters.
The Board of Directors may go into executive session concerning 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 Board meeting. Interested individuals are invited to register in advance and join the meeting through the following Zoom link: https://us02web.zoom.us/meeting/register/tZAsduurrjssGNbTxJnNTxAmQj94Au1....
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.
“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 .”