Economic Development Head Suggests Strategies for Retaining Investors

Good article from The Source:

July 24, 2007 -- It's easy enough to attract potential investors to the territory, but keeping them here is a different story, representatives from the Economic Development Authority (EDA) told senators during the second round of budget hearings Tuesday.

For years, the territory has been caught up in a battle with the federal government. The V.I. government has sought clarification on and relief from new limitations placed on source income and residency requirements related to the authority's tax incentive benefits program. While these issues have still had a somewhat negative impact on investors coming into the territory, EDA officials said Tuesday that other factors -- such as developing the territory's infrastructure -- are key to making the local economy more attractive.