Gov. John deJongh Jr. has inked an agreement with SYGMAPCS, a local company operated by former Bureau of Economic Research director Lauritz Mills, to develop a 2014 Comprehensive Economic Development Strategy Plan for the territory, as mandated by the U.S. Department of Commerce.
According to Government House, the $117,000 contract specifies the CEDS Plan must describe the background of the economic development of the region and give an analysis of economic development opportunities and challenges, as well as to provide a comprehensive list of goals and objectives for economic development. It is to also describe the existing private and public sector relationships, identify regional projects, plans and activities, and put together a plan of action. The document must be completed on or before Sept. 30, 2015, according to Government House
"We are continuing the focus on the overall economic development of the Virgin Islands with the primary objective of creating opportunities for jobs," deJongh said in a statement.
"Through this interactive process with members of the CEDS committee and engaging with the public through a number of community sessions, we will be able to reshape and reformat our territory’s economic platform, making it stronger and more resilient for the future," he said. "The outcome will be an economic platform that everyone can understand, have ownership in its implementation and feel comfortable with the resources put towards a successful outcome.”
The plan must contain "a section setting forth goals and objectives necessary to solve the economic problems, or capitalize on both local and resources of the region along with national interests."
"I feel confident that the 2014 CEDS Plan when submitted will assist the territory with its fiscal planning and objectives. Since taking office in 2007, one of my top priorities has been overseeing the economic progress of the territory. We have faced some enormous challenges over these last seven and a half years, but I stand determined to help find solutions to make the Virgin Islands stronger and more successful in the years to come," deJongh said.
