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Tag: Economic Development Commission

USVI Benefactor, Former Resident Richard Driehaus Dies

Investment manager and longtime Virgin Islands resident and benefactor Richard Driehaus died on Tuesday in Chicago. He was 78.

EDA Board Sets Rules for St. Croix Film Production

A film production may be coming to St. Croix – if it agrees to spend at least $1.5 million and employ 117 Virgin Islanders – according to a recent meeting of the Economic Development Authority Board of Directors.

EDC Board Ponders Benefits for Two Financial Services Firms

From humble beginnings on his grandparents’ farm in communist Romania, Edgar Zambo rose to self-described “influencer” status in financial circles and would like to bring his expertise to the U.S. Virgin Islands.

Call Center Told to Rethink Wage Scale in Bid to Obtain EDC Benefits

A stateside call center hoping to expand to St. Croix got schooled in the economy of the U.S. Virgin Islands on Tuesday at a public Economic Development Commission hearing.

EDC Grants Employment, Charitable Waivers in Face of Pandemic

The Economic Development Commission board of directors on Friday granted waivers to beneficiaries seeking reductions in their employment and charitable giving requirements, in one case citing the COVID-19 pandemic.

Citing Pandemic, Buccaneer Resort Seeks EDC Waivers, Extensions

The financial fallout from the COVID-19 pandemic was brought home to the Economic Development Authority Board of Directors on Thursday as officials with the Buccaneer Beach & Golf Resort on St. Croix appealed for help to stay afloat.
Economic Development Authority CEO Kamal Latham responds to questions from the Finance Committee Monday. (Photo by Barry Leerdam, USVI Legislature)

EDA Sees Bright Future for Investments in the Territory in 2020

The U.S. Virgin Islands Economic Development Authority Governing Board extended the contract for its auditor and approved travel for staff on Thursday.
Economic Development Authority CEO Kamal Latham responds to questions from the Finance Committee Monday. (Photo by Barry Leerdam, USVI Legislature)

Senate Considering Bill to Tighten and Clarify EDC Tax Break Rules

The Economic Development Authority’s Chief Executive Officer Kamal Latham on Monday told the Senate Finance Committee that the EDA's board remained neutral to parts of proposed legislation affecting the agency.
Kamal Latham, CEO of the Economic Development Authority, testifies at Tuesday’s Finance Committee hearing. (V.I. Legislature Photo)

Skeptical Lawmakers Call EDA Projections ‘Fluff’

Lawmakers on Tuesday expressed incredulity at projections issued by the V.I. Economic Development Authority, with Senate Finance Committee Chairman Sen. Kurt Vialet (D-STX) calling agency leadership’s goal of attracting 25 new investor applications in a year “fluff.”
Little St. James Island. (Image from Google Maps)

Jeffrey Epstein, Billionaire V.I. Island Owner, Arrested For Sex Trafficking Children

A wealthy Virgin Islands landowner was arrested by federal authorities Saturday. According to reports appearing in major U.S. newspapers, Jeffrey Epstein, 66, was apprehended as he flew into a New Jersey airport on a private plane arriving from Paris.

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