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Tag: Economic Development Commission

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.
Enjoying the afternoon, golfers take a short ride to the next hole. (Linda Morland photo)

Carambola Golf Club Requires Tax Relief to Stay Open

Carambola Golf Club is struggling to keep its doors open after former Gov. Kenneth Mapp denied the club an extension of benefits that had been voted on and unanimously approved by the Virgin Islands Economic Development Commission.
Marriott’s Frenchman’s Cove has seen a series of renovations after hurricanes Irma and Maria to bring it back to its original grandeur.

Marriott Offers Increase in Employee Mandate for Extension of Incentives

Marriott Ownership Resorts Inc., a subsidiary company of Marriott Vacation Club International, requested an extension of benefits and modifications be made to its application during a meeting with the Virgin Islands Economic Development Commission.

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