VIEDA to Market USVI Business enterprise at Digital SelectUSA Investment Summit

Possible enterprise buyers will get an within look into the benefits of carrying out business enterprise in the U.S. Virgin Islands together with an invitation to think about a United States territory in the Caribbean as a key place for company enhancement during the digital 2021 SelectUSA Expenditure Summit.

Wayne L. Biggs Jr., CEO of the Virgin Islands Economic Advancement Authority (VIEDA), will direct the authority’s financial development workforce when it participates in the summit from June 7 – 11.   The VIEDA is also a ‘Diamond Sponsor’ of this summit.

VIEDA will be amid several U.S. economic development organizations, together with global and domestic traders, senior White Household officers, and point out and nearby federal government representatives who will take part.

For the duration of this summit, the VIEDA team will boost the U.S. Virgin Islands’ tax incentive system and VI business enterprise options to bring in new investors to the territory.  The staff will also contain Margarita A. Benjamin, director of apps for financial progress at the Virgin Islands Financial Advancement Commission (VIEDC) and Shanell Petersen, handling director, Marketing and advertising and Vision 2040. The staff will have interaction in a number of networking actions, together with speaking engagements and just one-on-one business enterprise conferences.

VIEDA representatives will also host a virtual exhibitor booth to interact with international and domestic buyers. and significant-stage corporate determination makers as they market the U.S. Virgin Islands as an appealing destination for business enterprise financial commitment. The SelectUSA Expense Summit “draws more than 3,000 attendees and traditionally appeals to a lot more than 1,200 business investors from somewhere around 80 intercontinental marketplaces.”

The VIEDC – an entity of the VIEDA – features 90 per cent reduction in corporate and particular revenue tax, 100 percent exemption on business enterprise home tax and excise tax payments, and a reduction in the customs obligation from the typical 6 per cent to 1 per cent. The VIEDC also administers the VIEDC Smaller Organization Tax Incentive Program, the Eligible V.I. Suppliers Software and the Resort Advancement Software.

As the umbrella authority for 3 other entities – the Business Zone Fee (EZC), Economic Enhancement Bank (EDB), the Economic Improvement Park Company (EDPC) — the VIEDA also

1) features tax exemptions and tax credits by means of the EZC to rehabilitate attributes in enterprise zones which are distressed places that had been once vibrant communities

2) gives low-desire loans to small-to-medium sized organizations and an incubator plan via the EDB, and

3) economical professional spaces for lease at the EDPC.

To study additional about SelectUSA, check out www.selectusasummit.us/About/SelectUSA.

For extra data about the VIEDA and its entities, visit www.usvieda.org. To find out about to other opportunities to commit in the U.S. Virgin Islands, go to www.investusvirginislands.com.