News Updates for the US Virgin Islands
Studies Show Economy is Changing Gears
July 8, 2010 - The driving force behind the V.I. economy is oil, according to a study conducted by the U.S. Commerce Department. The U.S. Commerce Department´s Bureau of Economic Analysis released a detailed breakdown of its first Virgin Islands gross domestic product study, which looked at the years 2002 through 2007. The study revealed that petroleum products produced by the HOVENSA oil refinery on St. Croix are more critical than even tourism to the health of the local economy. For Full Story about US Virgin Islands Economy
Applications being accepted for Teacher Grants
August 20th 2009 - Applications for the 2009 Teacher Grants from the Anderson Family Fund at the Community Foundation of the Virgin Islands are available.
The Anderson Family Fund for Education was established at the foundation in 2002 to help improve public education for children in the U.S. Virgin Islands. To date, the fund has distributed more than $140,000 to public school teachers throughout the territory. The programs are funded by John Anderson Sr. of Los Angeles and Topa Properties, Ltd.
The Anderson Family Fund teacher grants program provides funding on a competitive basis for projects that seek to improve student achievement. Individuals may request up to $1,000 to implement an innovative project in their classrooms and schools. Grant awards must supplement school activities and resources, not replace local or federal funding.
Priority will be given to proposals in which students are directly involved in the project, the project description is clear and well-organized, creative strategies and activities are used to improve student learning, outcomes are measurable and substantive, the budget is realistic and the funds will be used efficiently.
Proposals must be submitted to the Community Foundation of the Virgin Islands no later than 5 p.m., Sept. 30. To receive an application form, e-mail email@example.com or firstname.lastname@example.org or visit www.cfvi.net and look under the grants section.
Successful applicants must agree to submit a brief written report, receipts for expenditures and, if possible, visual documentation on how they used the grant at the end of the funding period. Any applicant who was a recipient of a 2008 Anderson Teachers Grant must have submitted a written final report on the use of the 2008 grant in order to be eligible for a grant in 2009.
For information, call 774-6031.
US Virgin Island News
July 22, 2009 - US Virgin Island's Governor John P. deJongh Jr. has been in Washington this week to be heard by President Obama and other Congressional leaders regarding key issues that the territory faces. To date Governor deJongh has requested $96 million in federal funds available through the American Recovery and Reinvestment Act of 2009.
The Governor will be communicating the need for health Care Reform for Islanders as well as clarifying the power of federal agents while on assignment in the Virgin Islands. Other issues include Broadband communications and Emergency Management structure.
On the 10th of July, 2009 the Governor was pleased to announce the close of sale for the bond funds needed to start construction on the Diageo's Captain Morgan rum distillery on St Croix. The distillery is proposed to generate over $100 million annually in revenue for the region. Much needed funds to be used for the good of the people.
The state-of-the-art distillery will be located at the St Croix Renaissance Park and will supply Captain Morgan's rum to the whole of the United States from St. Croix for the next 30 years beginning in the year 2012. Contrary to some reports, there is no TARP or bail-out money used in this transaction.
Also in St. Croix, the governor approved the go ahead for local construction company GEC,LLC. to begin work on the drainage structures and roadways in the southwestern part of William's Delight.
To reach the Governors office for each island please use the address and phone or fax numbers listed below
|Governor deJongh Website
St. Thomas & Water Island
21-22 Kongens Gade
St. Thomas, VI 00802
|St. John - The Battery
St. John, VI 00830
|St. Croix |
1105 King Street
St. Croix, VI 00820
In other news around the Virgin Islands....
July 22, 2009 - The US Census Bureau released their report regarding the 2007 US Virgin island Economy. Topping the charts is the 2,583 businesses that generated over 19.5 billion dollars in sales. The Virgin Islands also employed over 35,300 people for a total salary of 1.1 billion. Retails sales increased of 15%. This is due in large part because the oil refineries were not included in the previous census back in 2002.
Even without the HOVENSA Oil Refinery the region experienced significant growth! Of the many retail categories Clothing and Clothing accessories were the highest percentage of retail sales coming in at 30%. Food and beverage stores was next at 18%.
The US Virgin Islands as a whole had 109 businesses with more than 50 employees, which was also the overwhelming percentage at 84% of total sales.
Interested in living in the Virgin Islands or owning a vacation home here? Give Jackie a call today!