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   Wednesday, Nov. 13, 2019 U.S.V.I. Business & Career Guide    

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IGIA Meeting A Success: Largest group of high ranking officials ever assembled for the Insular areas.
   President William J. Clinton established the IGIA on August 9, 1999 by Executive Memorandum, and the first all Federal officials' meeting was held on January 18, 2000. The IGIA will give guidance on policy concerning Guam,the Commonwealth of the Northern Mariana Islands, American Samoa and the United States Virgin Islands. The creation of the IGIA acknowledges that complex issues concerning the insular jurisdictions constantly emerge whose resolution cuts across executive agency lines.
  
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ECONOMIST OFFERS SUGGESTIONS TO SPUR THE ECONOMIC PROGRESS OF THE VIRGIN ISLANDS
   The Virgin Islands can become the new seat of innovation, entrepreneurship and enterprise by creating the business environment in which hi-tech firms can flourish and prosper. The territory can become the "Silicone Valley" without the chip manufacturing plants. With these companies actually incorporated in the Virgin Islands they get unique tax benefits under IRS 934. By being headquartered in Virgin Islands it gets first priority at hosting their R and D and manufacturing facilities.
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IDC BENEFITS---The Best Investment Deal Under the American Flag
   The IDC legislation was enacted to boost economic development and local employment by luring new industries and new business investment to the territory. This Act allows a business enterprise to enhance profits and to retain almost all profits tax-free in exchange for guaranteed local employment and the spawning of economic activity beneficial to the territory.
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THE ST. CROIX CHAMBER OF COMMERCE HAS RECOMMENDATIONS TO STIMULATE ECONOMY.
   Chamber of Commerce has 14-point business advocacy agenda and recommendations to stimulate business and economy on the big island.
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