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Charlotte Amalie
Thursday, March 28, 2024
HomeNewsArchivesDeJongh Leads EDA Mission to NY

DeJongh Leads EDA Mission to NY

Gov. John de Jongh Jr., together with top officials from the V.I. Economic Development Authority, met with companies in targeted industries, site selection consultants, tax advisors and capital/wealth management firms; and influential business media during a two-day mission to New York City, Government House announced Saturday.

“Getting out into the marketplace to meet face-to-face to showcase what we have to offer to companies and the firms that advise them is critical to spurring investment and job creation in the territory," deJongh said. "As the media capital of the world, New York City also provided a powerful platform to amplify our message that the U.S. Virgin Islands is open for business.”

The mission included a business reception attended by about 20 site selection and incentive consultants, tax attorneys and advisors, and wealth and investment management firms, the Government House news release said. In addition to a presentation by deJongh, brief remarks were made by Percival Clouden, and Jennifer Nugent-Hill, the CEO and assistant CEO of the Economic Development Authority.

Mark Eckard, president of the St. Croix Chamber of Commerce, and Brad Lenhart, chief operating officer of Denali Asset Management, were also on hand to talk about the territory’s favorable business climate and advantages of the Economic Development Commission tax incentive program.

The economic development mission also included a series of one-on-one editorial meetings with high-circulation business media. DeJongh was interviewed by The Street, The New York Times, International Business Times, Barron’s and MarketWatch. The media interviews were designed to deliver the message to a global business audience that the U.S. Virgin Islands offers one of the best business values in the U.S.

“We pushed the strong message that the U.S. Virgin Islands is a tremendous value proposition for businesses that want to achieve growth while improving their bottom line," Clouden said. "We underscored that our tax benefits are sanctioned by the U.S. Congress, that we operate with the advantages of two airports, deep water sea ports, appropriate shipping routes and airline connections and have one of the fastest broadband networks in the Western hemisphere. It is our belief that upon approval of the recent EDC reform amendments that we submitted to the 30th Legislature, we will be in an even more positive position to build the portfolio of companies doing business in the Virgin Islands."

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