Sustainable Tourism through Arts-based Revenue Streams (STARS) Program

Sustainable Tourism through Arts-based Revenue Streams (STARS) Program is sponsored by U.S. Virgin Islands Economic Development Authority (USVIEDA). The STARS program is designed to advertise and promote the U. S.

Virgin Islands as an ideal location for major and minor film productions and music/audio recording projects.

Industry Incentives – USVIEDA Sustainable Tourism through Arts-based Revenue Streams (STARS) Program The Sustainable Tourism through Arts-based Revenue Stream is designed to advertise and promote the U.S. Virgin Islands as an ideal location for major and minor film productions and music/audio recording projects.

The diverse landscape of the USVI is perfect for producing motion pictures, documentaries, television programs, commercials, music videos, and magazine advertising. Up to 17% transferable tax credit Minimum spend of $250,000. Minimum of 20% resident hires (including crew, extras, actors and a maximum of three paid interns) Include credits, i.e. “Made in the USVI” or “Portions Made in the USVI” and other acknowledgments.

Above-the-line-crew member speak at local school or university. Minimum spend of $250,000. Minimum of 20% resident hires (including crew, extras, actors, and a maximum of three (3) paid interns).

Include credits, i.e., “Made in the USVI” or “Portions Made in the USVI” and other acknowledgments. Above-the-line crew members speak at local schools or universities. Hotel Development Program With miles of pristine coastline and large expanses of land ideal for golf courses, the U.S. Virgin Islands is ripe for hotel and resort development.

The Hotel Development Program is designed to assist in developing new hotels, resorts, and other related tourism facilities in the U.S. Virgin Islands.

The legislation allows hotel developers to use a portion of their hotel occupancy and casino taxes to repay long-term loans, which can help finance projects The Hotel Development and Finance Program Act was enacted in 2011, subsequently amended in 2018 (Act 8030), and thereafter in 2019 (Act 8056) to include, amongst other amendments, the Economic Recovery Fee Incentives.

The extension and expansion of the Act, which was originally limited to the islands of St. Croix, St. Thomas, and St.

John, will allow ample time for the application process for developers considering investment in any of the islands, including Water Island, a quiet 492-acre island, located in Charlotte Amalie harbor just off St. Thomas. Be located on the island of St.

Croix, the island of St. Thomas, the island of St. John, or the island of Water Island 80% of all persons employed shall be residents of the U.S. Virgin Islands.

Provided that after the third year of operation, at least 20% of management, supervisory, and/or technical positions must be filled by residents of the U.S. Virgin Islands unless granted a waiver by the Commission Obtain all the applicable licenses or permits, permanent, temporary, or otherwise, as required by Title 27 of the V. I. C.

and shall maintain during the term of the contract such licenses or permits Comply with all applicable laws, rules, ordinances, and regulations Such other requirements as the VIEDA may require in conformity with the Hotel Development and Finance Program VIEDA Certification Process for Projects The VIEDA determines certification of the Project and shall consider the materials and opinions provided with the application and the testimony of the public together with the additional criteria outlined in the V.

I. law. Negotiating Project Agreements: VIEDA's Role Once the Project Development Plan has been approved and certified for approval by the Governor and the Legislature, the VIEDA shall enter into good faith negotiations with the developer for a Project Agreement between the Government of the Virgin Islands and the developers setting forth the obligations of the parties outlined in the V.

I. law. VIEDA Review Process and Defect Resolution If, upon consideration of the application, the VIEDA decides the Project does not comply with the requirements, the VIEDA shall notify the developer in writing stating the areas the Project fails to meet the criteria, which shall be made available for public review.

The VIEDA shall allow the development sponsor up to sixty (60) days to cure any defects. Suppose the development sponsor fails to cure the defects within sixty (60) days. In that case, the VIEDA shall deny the project's certification, and any re-submittal of the Project shall require a new application.

Once the Project Development Plan has been approved and certified and a Project Agreement has been negotiated, the Project beneficiary shall also be required to pay the following: $100,000 shall be reserved for the Board of Education exclusively for scholarships to students whose college major is Hotel Management, which shall be split equally between the Districts of St. Croix and St. Thomas/St.

John. The Project beneficiary will also be required to contribute $2500 annually for the creation, development, management, and maintenance of a database designed to recruit Virgin Islanders living abroad. This database shall be developed and managed by the Department of Labor in collaboration with the VIEDA.

Payments shall be made by January 31st of each year. How the Economic Development Authority Unlock new horizons within the US Virgin Islands with the business potential our territory offers with the help of the USVI Economic Development Authority . With tailored tax programs, incentives, financing options and more.

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