Monday, May 20, 2024
spot_img
HomeInsightsCampaigns & ElectionsUSVIEDA launch Global Marketing Campaign

USVIEDA launch Global Marketing Campaign

    • Initiative will focus on attracting investment in the Vision 2040 targeted industries and the South Shore Trade Zone

CHARLOTTE AMALIE, St Thomas – As part of ongoing efforts to implement Vision 2040, the Territory’s 20-year economic development strategy and action plan, the Virgin Islands Economic Development Authority (USVIEDA) has launched a global marketing campaign to attract new investment to the US Virgin Islands in the target industry sectors identified in Vision 2040.

Following a competitive bidding process, USVIEDA has contracted with OCO Global Limited (“OCO”), an international marketing firm focused on trade, investment, and economic development to devise a strategy that promotes the US Virgin Islands as a premier business destination.

This campaign will include a full rebranding of USVIEDA and the development of a foreign direct investment strategy for the Territory. OCO will also conduct a comprehensive competitor and benchmark analysis to help devise a marketing strategy, as well as identify activities to position the Territory more prominently before potential investors, site selectors, and investment advisors.

The campaign will also focus on building a comprehensive plan to promote the South Shore Trade Zone Program. USVIEDA’s newest economic development tool, this program offers attractive tax incentives for up to 20 years to eligible companies that start, relocate, or expand into the designated area on St Croix’s south shore. The aim of this segment of the campaign is to identify, pursue and attract anchor activities to the trade zone that will transform St Croix into a logistical hub for trade, industry, and commerce in the region.

Wayne L. Biggs, Jr., USVIEDA’s chief executive officer, expressed optimism about the campaign launch. “This is an exciting time in USVIEDA’s history,” Biggs stated.

“Because this agency led the development of Vision 2040, the Territory now has a blueprint that we can use for economic growth and prosperity. This global marketing campaign is a major part of the overall strategy to place the USVI on the world stage as a viable and prime location for business investment. I also look forward to welcoming the first investors into the trade zone program.”

Vision 2040 was completed in March 2021. Since then, it has been used as a guide for other Territorial action plans, such as the Comprehensive Economic Development Strategy (“CEDS”), the tourism master plan, and the VI Agricultural Plan. Vision 2040 is a community-based plan that outlines eight target industry sectors based on input collected from residents and Virgin Islanders living abroad.

USVIEDA’s global marketing campaign and the South Shore Trade Zone strategy will be aligned with these sectors, which include:

  1. Agribusiness;
  2. Professional and technical services;
  3. Coastal/ocean resources;
  4. Renewable energy;
  5. Health sciences;
  6. Research and development;
  7. Light manufacturing; and
  8. VI-style tourism.

“The Bryan-Roach administration is investing in the Territory’s people, infrastructure and future through transparency, stabilizing the economy, restoring trust in the government and ensuring that recovery projects are completed as quickly as possible.”  Visit 

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

APEC GDP expands to 3.5 percent in 2023: Uncertainties loom large

By the APEC Policy Support Unit AREQUIPA, Peru - APEC’s gross domestic product grew by 3.5 percent in 2023 compared to 2.6 percent in 2022....

Global News

On the inauguration of president Lai Ching-te and vice president Hs iao Bi-khim of the Republic of China (Taiwan) – May 20, 2024

By Jin-Ling Chen, Director General Taipei Economic and Cultural Office in Toronto TORONTO, Canada - The following is a statement from Jin-Ling Chen, Director General, Taipei...