74.7 F
Charlotte Amalie
Thursday, March 28, 2024
HomeNewsArchivesEDA TO LAUNCH NEW, IMPROVED WEB SITE

EDA TO LAUNCH NEW, IMPROVED WEB SITE

Dec. 12, 2002 — The Economic Development Authority is currently working on reconstructing its Web site in an effort to reach new investors. The site will feature information on the authority's program laws and how to get small business loans.
The site will feature all parts of the EDA, especially the Economic Development Commission, according to Nadine Marchena, assistant chief executive officer. "The initial thrust is to try to get as much information about the EDC as possible," Marchena said.
She said the site will be targeted at three main audiences: those interested in doing business in the Virgin Islands, those already doing business locally and the general public.
"It's a marketing tool," Marchena said. "We're trying to make sure it's a clear communication link between us and the rest of the world."
Marchena said the site, which will be launched in January, was "long coming" and "something we saw that we needed to do."
The EDA is the "umbrella agency" that brings together the many economic units of the Virgin Islands, including the EDC, Government Development Bank, Small Business Development Agency, Industrial Development Park Corporation and the Enterprise Zone Program. The authority is charged with bringing investors to the territory and assisting small businesses with getting set up.
The EDA is also noted for providing businesses with tax benefits. Some of the benefits the authority provides to companies investing in the Virgin Islands include: 90 percent exemption on local income tax, 90 percent exemption on dividends, 100 percent exemption on gross receipt taxes, 100 percent exemption on property taxes and 100 percent exemption on excise taxes.
"We're here to increase growth of small businesses in the community, diversify the economy and increase meaningful employment," Marchena said.
Visit the EDA's Web site at www.usvieda.org.

Publisher's note : Like the St. Thomas Source now? Find out how you can love us twice as much — and show your support for the islands' free and independent news voice … click here.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.