The V.I. Economic Development Authority announced Monday that is had received a State Trade and Export Promotion grant of $322,498, which local small businesses can apply for through the STEP program to help market their products abroad.
“We are extremely appreciative of this award,” said Percival Clouden, chief executive officer of the EDA. “The STEP program can greatly assist our local small business owners in their goals to attract foreign buyers for their unique products and services.”
This is the second year the territory has received money through the three-year STEP program. In the first year, 20 local small businesses made use of the funds.
Applications forms are available at the EDA offices, the Small Business Development Center and the Small Business Administration in both districts. Applications can be found online at www.usvieda.org.
Applicants will need to supply a copy of their most recent business license and a letter of good standing from the Office of the Lieutenant Governor’s Division of Corporations and Trademarks.
Completed applications can be hand delivered to the EDA’s offices at 5055 Norre Gade on St. Thomas or at 116 King Street in Frederiksted on St. Croix. Applications can also be sent by fax to (340) 777-8399 or by email to nmarchena@usvieda.org.
“This administration is grateful for the STEP grant award that the territory will receive for a second year,” Gov. John deJongh Jr. said in a press release. He said his administration and the EDA recognize that local small businesses can grow through export-related activities.
“Our unique products and services that reflect our culture can continue to be introduced within the global marketplace through the STEP program and our local small businesses,” the governor said.
