Feb. 20, 2009 — The Virgin Islands recently gave its annual Comprehensive Economic Development Strategy to the U.S. Department of Commerce and the Economic Development Administration, enabling the territory to retain its status as an economic development district.
The CEDS process is required for every region to qualify for EDA assistance under its public works, economic adjustment, and most planning programs, and is a prerequisite for designation by EDA as an economic development district.
The CEDS "places the Virgin Islands in a position to capture its share of the stimulus package in a planned manner that will benefit the citizens of the islands for years to come," deJongh said in a Government House statement Friday. "With defined goals and objectives, a transparent, continuous planning process in place, and a clear list of projects in place, the Virgin Islands are clearly prepared to turn this crisis into an opportunity."
Following the process set up by the federal government for creating the CEDS, the deJongh administration created a committee from a diverse representation of public, private and not for profit sectors to gather information with public input to gauge the major strengths and weaknesses within the U.S. Virgin Islands. The committee put together an overall vision for economic development, with defined goals and objectives and requested projects to meet them.
“It reflects on the specific planning, infrastructure and workforce needs of the island as it is today and will be tomorrow," he said. "It recognizes the importance of tourism and the need to create a tourism cluster. But it also notes that jobs in this industry are largely unskilled and that the tourism industry must reflect on the point that increasingly we are faced with new and emerging competitors.
"It recognizes that the islands are strategically located to capture international and Caribbean-based airfreight and passenger traffic but cannot do so without new facilities. It notes that its farming practice is quite limited, but that there is growth potential in its organic products. It has a culture marked with great creativity that is largely untapped.”
DeJongh said the plan will guide the Territory’s economic development for the next five years.
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