Home News Local news LIBURD: FILL VACANCIES ON IDC

LIBURD: FILL VACANCIES ON IDC

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Gov. Charles Turnbull is being urged to fill vacancies on the Industrial Development Commission. Sen. Almando "Rocky" Liburd noted Monday that there are only two members on what should be a seven-member commission.
Liburd believes the role of the IDC is critical to improving the health of the economy, which, he said, requires new investment.
"We need to be able to rebuild ourselves in terms of the eyes of the world. Investors in general do not have a good view of the Virgin Islands," he said.
"It's difficult to understand how we can attempt to diversify the economy but have an IDC board that is non-functional."
Liburd compared the scenario to a person's owning a vehicle with four flat tires, "unable to move forward."
In urging the appointment of members to the IDC, he said there was no reason the commission should not function, even as the legislature prepares to consider reforms to the program.
The IDC administers the territory's program of tax incentives and other benefits for new companies that invest in the territory and qualify, and for existing companies willing to qualify by expanding their local investments.

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