GOVERNMENT & POLICE NEWS

Pending Retirees to Receive First Annuity Payments

A $1 million advance on the $2.1 million employees’ prior periods missing contributions has been received from the Government of…

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Gov. John deJongh Jr. offers News Years wishes, and thanks to the people of the Virgin Islands for the honor of electing him to serve as their governor.

 
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UVI’s Economic Impact on the Territory Is $83.5 Million

An independent economic assessment estimates that the University of the Virgin Islands had an economic impact of $83.5 million on the territory in 2013. The 64-page report titled “Restoring Growth, Expanding Opportunity” was conducted in 2014 by Appleseed Inc., a New York-based economic development consulting firm.

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2015-03-06 11:18:18
WAPA to Implement Outage Management System, Interactive Voice Response

WAPA will implement an Outage Management System (OMS) on St. Croix on Monday, March 9. An OMS gives WAPA the ability to efficiently identify and resolve outages, and to generate and report valuable historical information,

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2015-03-06 10:56:06
VIEDA, EDA to Host Free Small Business Camp Weekend

The Virgin Islands Economic Development Authority's (VIEDA) Disaster Small-Midsized Enterprises Incubation Program and the Small Business Camp will host a Small Business Camp Weekend training program for entrepreneurs, executives, non-profit leaders and anyone that has a business idea.

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2015-03-06 00:45:38
Local news — St. Croix
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Home Depot Opens New Store on St. Croix

Home Depot will open the big orange doors of its new store on St. Croix Wednesday, but they won't do anything as tame as a ribbon-cutting ceremony to mark the occasion.

Store manager Melissa Ward and other officials will take part in a "board cutting," a ceremony more befitting the latest in Home Depot's chain of 2,245 stores that stretch from its Atlanta headquarters to China.

The first sign that the long-awaited store was ready to open came with little notice or fanfare Tuesday afternoon when the Department of Public Works activated the new traffic signal on Melvin Evans Highway at the entrance to Island Crossing. The signal has been blinking yellow since early August, but now motorists will have to accustom themselves to an extra intersection on the highway.

The grand opening dedication ceremony and Neighborhood Night will take place from 5 to 8 p.m. Wednesday.

Home Depot, with its staff of more than 100 employees, is the centerpiece of the Island Crossing shopping center that has been a subject of discussion and contention for at least four years. Built by the V.I. company Caribbean Development Partners, the shopping center will eventually encompass 250,000 square feet of retail and storage space. The development Island Crossing is the first beneficiary of an economic development tool called tax increment financing (TIF), in which private developers can use public money to help defray the cost of a development, paying for it by pledging projected future gains in tax revenues from the current improvements that will create those future gains.

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The theory is that if the public funding makes feasible a project that otherwise would not happen, the increased tax revenues it will bring in can justify and, through TIF, actually finance the upfront public expense, bootstrapping economic development. The developer is liable for the bonds if the tax revenues don't appear, theoretically protecting the government from any risk of losing money on the deal.

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