Tag: economy

While the V.I.'s financial woes are enough to keep any leader up at night, Gov. Albert Bryan Jr. is confident that when the pandemic eases the territory will be poised for a comeback.

Finding the balance between reviving the economy and public safety is a delicate one, Governor Albert Bryan Jr. said in a recent interview with the Source.

Lawmakers say they want to diversify the Virgin Islands economy by pushing forward a bill that will designate 3,000 acres on the south shore of St. Croix as an enterprise zone.

When asked to estimate the impact of the novel coronavirus on the V.I. government’s revenues, Bureau of Internal Revenue Director Joel Lee said they could not give a firm projection “because this has never happened before.”

Tens of millions of dollars in revenue for the Virgin Islands are practically up in smoke as the COVID-19 pandemic forced cruise ship cancellations, a ban on hotel stays and a stay-at-home order that all but cut off the territory’s lifeblood: tourism.

After a year of “trials and triumphs,” Gov. Albert Bryan Jr. said the “state of our territory is on the mend” because of the focus his administration has put into three key mandates: stabilizing the government to rebuild pubic trust, recovery and rebuilding efforts and laying a solid foundation to restore the economy.

Real Gross Domestic Product for the U.S. Virgin Islands grew 1.5 percent in 2018 after decreasing 0.6 percent in 2017, according to numbers released Tuesday by the V.I. Bureau of Economic Research.

The Government Employees' Retirement System governing board voted to not renew the West Indian Company's management agreement for Havensight Mall.

Limetree Bay Refining celebrated 35 graduates – all Virgin Islanders – from its first Basic Operator Training Class. Nine were women. That’s about 26 percent, or a little more than a quarter, which almost mirrors the national statistics on women working in STEM fields.

Hosts of Airbnb rental properties in the territory help spur tourism in the Virgin Island's by lodging guests who stay longer and spend more, according to figures presented by Airbnb representatives.