St. Croix's Business Mixer: A Catalyst for Economic Growth

A Thriving Business Community

St. Croix - When you mix together the most influential business organization on St. Croix, the St. Croix Chamber of Commerce, with the Territory’s most innovative economic development organization, RTPark, and invite them both to a business mixer at an ultra-hip building, 64 West, on the University of the Virgin Islands (UVI) campus, you create a unique opportunity. Imagine about 100 Chamber members, RTPark representatives, and highly interested guests mingling over great food and remarkable vibes. This gathering could rival the ringing of the opening bell at the NYSE on the morning of a highly touted IPO.

Such was the successful Meet n’ Greet presented by the St. Croix Chamber of Commerce at their regular Business After Hours event, hosted by RTPark at its headquarters on the UVI Albert A. Sheen Campus.

Understanding RTPark's Role

For those who don’t know, the University of the Virgin Islands Research and Technology Park (RTPark) is a specialized economic development organization (EDO). Its mission is to drive investment and diversify the regional economy in the U.S. Virgin Islands. RTPark achieves this by offering a unique incentive program, providing technical services to growing businesses in the technology sector, and promoting the environmental and geographic advantages of the region.

RTPark has an immeasurable presence in the Virgin Islands, presenting many innovative programs that benefit the Territory’s modern-day techno-culture. They enrich the USVI’s technology and knowledge-based sectors. Their focus is on companies working in Health and Medicine, Software Solutions, Sustainability Solutions, and Financial Technology. Recently, they have expanded their outreach to connect with technology-focused companies in various sectors, including Interactive Media Management, Internet Advertising, Telecommunications, E-commerce, Content Development, Data Hosting and Management, Sustainable Construction, and R&D.

RTPark operates as a Protected Cell Corporation and an autonomous instrument of the USVI Government. They offer numerous tax exemptions and reductions to their clients. The most notable benefit is a 90% reduction on tax liability for the business and for the owners and beneficiaries if the owners are bona fide residents of the USVI.

Opportunities for Local Businesses

“These events are wonderful opportunities for the business community to come out and promote their individual business,” said Akeel St. Jean, President of the St. Croix Chamber of Commerce.

The space at 64 West resembles a cool-looking rocket ship, ready to blast off for places unknown. It is poised to take on new business ventures and grow them until they reach the stars.

“If we want to build a sustainable future for the Virgin Islands, we need to start with our youth,” said Eric Sonnier, Executive Director of RTPark. He spoke about RTPark’s STEM Enrichment Program. “By inspiring the next generation of tech innovators and problem solvers, we are creating pathways for students to access future career opportunities in the tech sector.”

Investing in the Future

The STEM Enrichment Program offers After-School STEM Clubs and Summer Camps. This program ensures that all students, including those from underrepresented groups, have access to high-quality STEM education. It fosters equal opportunities for future success.

The buzz around the room was all about elevating the business climate on St. Croix. The venue, with its floor-to-ceiling windows overlooking the beautiful UVI campus, was filled with VI Senators, high-level business leaders, department heads, movers and shakers, and 2026 Senatorial and Gubernatorial hopefuls. It seemed every last one of them was looking for new ideas on how to put the Big Island on a new road to economic recovery after the recent setbacks of the failed refinery and the COVID-19 pandemic.

Creative Solutions for Economic Recovery

“We need to get creative,” Mr. St. Jean said about the current economic climate on St. Croix. “We need to look at imports and exports, at small manufacturing, and take advantage of our exemption from the Jones Act.”

You could certainly feel the flow of Biz-Electricity in the air. The camaraderie among fellow Crucians was palpable. They collectively realize that the best way to move forward is to get together, exchange views, brainstorm, and think outside the box. The goal is to identify an overall grand plan or a series of smaller plans that will break through the island’s current period of economic stagnation. Together, they can lead St. Croix into a bright new future of economic prosperity.

Conclusion

In conclusion, the recent business mixer at 64 West was more than just an event; it was a catalyst for change. By fostering connections among local businesses and encouraging innovative ideas, we can pave the way for a thriving economy on St. Croix. The collaboration between the St. Croix Chamber of Commerce and RTPark is a testament to the potential that lies within our community.

Let’s continue to support one another and explore the opportunities that await us. Together, we can make St. Croix a beacon of economic growth and innovation in the Caribbean.