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The VIEDA Insider
The monthly newsletter
of the Virgin Islands Economic Development Authority
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Volume 1 | Issue No. 5 October 2022 | |
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New affordable housing program launches
in the USVI to assist moderate-income families realize their homeownership dreams
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VIEDA CEO Wayne L. Biggs, Jr. (left), joins USVI Governor Albert Bryan, Jr., for a news conference on October 20, 2022 to announce the launch of the V.I. Slice Moderate-Income Homeownership Program.
-Photo courtesy of Office of the Governor
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INSIDE THIS ISSUE:
- V.I. Slice Moderate-Income Homeownership Program
- Frenchman's Reef Hotel
- VIEDA Client Profile Highlight
- 2022 Small Business Expo
- VIEDA Employee Spotlight
- Business Tips of the Month
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Governor Albert Bryan, Jr. on Thursday, October 20, 2022 announced a new program that will help first-time homebuyers secure financing to become homeowners through a partnership between the Government of the Virgin Islands (GVI) and local banks that will be administered through the Virgin Islands Economic Development Authority (VIEDA). Learn how this program works by viewing the Office of the Governor's news conference here. Also, see Office of he Governor's news release here following the news conference. | |
On the Horizon:
Business Investment, Employment Opportunities
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Newly-renovated, rebranded hotel on St. Thomas gears up to re-open, hire more than 400
As renovations are underway for completion, the new Frenchman's Reef complex and beneficiary of the V.I. Economic Development Commission Tax Incentive Program gets ready to hire more than 400 employees.
See story here in The Source.
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Image source: Frenchman's Reef Website | |
VIEDA's Economic Development Commission
Client Profile: Fintrac, Inc.
As Fintrac, Inc. CEO Claire Starkey reflects on Fintrac's history of assisting developing countries, she also continues to have hope for a bright future as this VIEDC Beneficiary inspires a new generation of entrepreneurs.
See Client Profile here.
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Fintrac programs contributed to improvements
in childhood nutrition. -Photo courtesy of fintrac, Inc.
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2022 Small Business Expo
Shop Local. Promote the Economy
The VIEDA had the pleasure of participating - as a sponsor and participating service agency - in the 2022 Small Business Expo hosted by Janette Millin Young of Millin Young Consulting & Notable Events by Janette. The expo themed, "Shop Local. Promote the Economy.", was organized to provide more than 30 “mom and pop” local businesses with exposure, networking opportunities and support from service providers and government agencies.
These businesses ranged from industries such as food and beverage, clothing, jewelry, and services. In addition to the VIEDA, service agencies, including representatives from the University of the Virgin Islands Continuing Education and Life-Long Learning, Department of Licensing and Consumer Affairs, and others, were available to share business resources and information.
With her first small business expo as a business owner herself, Mrs. Millin Young was enthusiastic about the success of the expo.
"I was truly pleased with the variety of products and services featured at the Small Business Expo. Many participating vendors' products were sold out and a few were featured by the news media.
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Pictured (L to R): VIEDA ACEO Rosa Thomas, Economic Development Bank Loan/Collection Officer K'Nisha Gumbs, Janette Millin Young of Millin Young of Millin Young Consulting & Notable Events , Managing Director of the Enterprise Zone Commission Nadine T. Marchena Kean and VIEDA Marketing and PR Specialist Semele George. -Submitted photo | |
They were all introduced to volume product buyers and some were invited to participate in upcoming trade shows. By all accounts, the event was successful, and I am looking forward to hosting more," said Mrs. Millin Young.
The VIEDA looks forward to continuing its partnership with Janette Millin Young for economic development initiatives and to support our small businesses in the USVI.
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VIEDA Employee Spotlight:
Congratulations to VIEDA employee
K'Nisha Gumbs on her promotion this month
to the position of Loan/Collection Officer
at the VIEDA's Economic Development Bank.
In her new role, Ms. Gumbs has already hit the ground running to assist in engaging with prospective clients to share information about VIEDA programs and services at the 2022 Small Business Expo.
Thank you K'Nisha! We wish you much
success in your new position.
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Loan/Collection Officer K'Nisha Gumbs (left) talks with a local entrepreneur about VIEDA programs and services at the Small Business Expo on October 15, 2022. This expo was held at Tutu Park Mall on St. Thomas, USVI.
-Photo by Semele George/VIEDA
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Business Tips of the Month | |
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Get Ready for AMEX Small Business Saturday! - November 26, 2022
Need to know how you can ramp up, or create, your holiday marketing campaigns for your business? Join the U.S. Small Business Administration for its free "Holiday Marketing Campaign" on November 14, 2022.
Register here today.
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-Photo credit: IStock photo | |
Holiday Marketing: Build your brand's image, increase sales
The holiday season can draw more attention to your business. So don't miss out on this opportunity to market the unique merchandise your business has to offer new and existing customers!
Find out why holiday marketing matters and how you can get your business to cash in from extra sales this holiday season.
See articles here and here.
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Are you ready to
become an entrepreneur?
As 2023 approaches, new aspirations, goals and plans abound as 2022 draws quickly to a close. And as shifts in priorities to have more work and personal life balance remain constant since the pandemic, many
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people have started their own business, or are thinking about becoming entrepreneurs.
If you are among the latter group, have you ever went further and asked yourself, "Am I ready to start a business?" or "Do I have what it takes to succeed in business?"
Being an entrepreneur can be a challenging and rewarding experience all at the same time.
So before you dive into the entrepreneurial pool, take some time to explore whether you are ready, or discover what you need to do to prepare yourself to step into the entrepreneurial world with the Small Business Readiness Assessment Tool from the U.S. Small Business Administration. Take the assessment here.
Also, take a look at these questions from the V.I. Small Business Development Center to answer questions on when you should start a business.
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About the Virgin Islands Economic Development Authority: The Virgin Islands Economic Development Authority (VIEDA) is a semi-autonomous governmental instrumentality. It promotes economic growth, job creation, and wealth generation in the U.S. Virgin Islands. The VIEDA assumes, integrates and unifies the functions of these four entities: Economic Development Commission, Virgin Islands Economic Development Park Corporation, Economic Development Bank and the Enterprise Zone Commission. The VIEDA accomplishes its mission by attracting investors to the Territory to establish or relocate their business in the U.S. Virgin Islands. It also provides financial assistance for new and existing small to medium-sized businesses in the Territory and assists V.I. residents and business owners with rehabilitating their properties located in distressed areas that were once vibrant economic centers of activity in the Territory. Learn more about the VIEDA at www.usvieda.org or send an email to info@usvieda.org. | | | | |
