For Immediate Release
Source: U.S. Virgin Islands Department of Tourism and the United States Virgin Islands Economic Development Authority (USVIEDA)
Alani Henneman-Todman, U.S. Virgin Islands Department of Tourism
+1 340 774-8784
Keisha Nelson, Marketplace Excellence
+1 201 861-2056
Shanelle Peterson, U.S. Virgin Islands Economic Development Authority
+ 1 340-714-1700 Ext. 1511
USVI PROMOTES BUSINESS INCENTIVES AT LEADING INVESTMENT SUMMIT
USVI Commissioner of Tourism Joseph Boschulte
USVI Economic Development Authority CEO Wayne Biggs
HOLLYWOOD, Florida (August 30, 2021) — The U.S. Virgin Islands is ready to get down to business at the Caribbean Hotel & Resort Investment Summit (CHRIS) taking place at the Seminole Hard Rock Hotel & Casino in Hollywood, Florida this week.
Leading the Territory’s delegation are the U.S. Virgin Islands Department of Tourism and the U.S. Virgin Islands Economic Development Authority (USVIEDA), which are partnering to ensure that the interests of both public and private sector stakeholders are promoted and communicated to would-be investors.
The highly-anticipated annual investment conference features insightful information sessions and panel discussions, networking opportunities, and nearly 70 speakers, approximately one-third of whom are chairmen, chairwomen, CEOs or presidents representing various Caribbean hospitality and tourism brands and organizations.
“We continue to see strong expressions of interest in our destination, from both the leisure travel and business development perspectives. At CHRIS we have an excellent opportunity to capitalize on this demand through follow-up discussions and pursuing new leads,” said USVI Commissioner of Tourism Joseph Boschulte, who added that the timing is right for stakeholders and investors alike to explore “all the fantastic business opportunities that await in the Territory”.
Today, Commissioner Boschulte will appear as a panelist in a session on public-private ownership collaboration, moderated by Annette Mark, president of the Caribbean Association of Investment Promotion Agencies. USVIEDA CEO Wayne Biggs will speak about opportunities in the Territory during an information session on Tuesday.
Biggs also expressed enthusiasm about the summit: “We are ready to accelerate the attraction of decision makers from the hospitality sector by sharing the benefits, such as tax and economic incentives, that can be enjoyed from doing business in the U.S. Virgin Islands.”
In addition to supporting the conference as a patron sponsor, the Department of Tourism and the Economic Development Authority are jointly staffing the Territory’s trade show booth at the event, and exploring new leads for the Territory.
To learn more about the Caribbean Hotel & Resort Investment Summit, visit www.chrisconference.com.
About the U.S. Virgin Islands
For more information about the United States Virgin Islands, go to VisitUSVI.com, follow us on Instagram (@visitusvi) and Twitter (@usvitourism), and become a fan on Facebook (www.facebook.com/VisitUSVI). When traveling to the U.S. Virgin Islands, U.S. citizens enjoy all the conveniences of domestic travel – including on-line check-in – making travel to the U.S. Virgin Islands easier than ever. As a United States Territory, travel to the U.S. Virgin Islands does not require a passport from U.S. citizens arriving from Puerto Rico or the U.S. mainland. Entry requirements for non-U.S. citizens are the same as for entering the United States from any foreign destination. Upon departure, a passport is required for all but U.S. citizens.
About the United States Virgin Islands Economic Development Authority
The United States Virgin Islands Economic Development Authority (USVIEDA) is a semi-autonomous government organization responsible for the promotion and enhancement of economic development in the U.S. Virgin Islands. It has five major components: Economic Development Commission, Virgin Islands Economic Park Development Corporation (formerly the Industrial Park Development Corporation), Economic Development Bank (formerly the Government Development Bank and the Small Business development Agency), and Enterprise Zone Commission. The Economic Development Commission (EDC) offers unique tax incentives for qualified businesses. Benefits of the EDC program include a reduction of up to 90% of personal and corporate income taxes and up to a 100% exemption on excise, business property and gross receipt taxes. The purpose of the U.S. Economic Development Authority is to act as an umbrella authority that integrates and unifies the functions of the five agencies under one executive board in order to maximize efficiency and enhance economic development in the Territory.