Proposals for a system of reevaluating the territory’s economic development goals and its strengths and weaknesses were on the table when the V.I. Comprehensive Economic Development Strategy Committee met Wednesday, according to Government House.
The CEDS consists of plans and projects that are to be submitted to the U.S. Department of Commerce Economic Development Administration for possible federal grant funding support. Opportunities include alternative energy grants, business development assistance, expansion of information technology systems and assistance improving public utilities.
The $98 million V.I. Next Generation Network is a CEDS program, funded from the U.S. National Telecommunications and Information Administration to develop broadband across the territory and from EDA funding for the Research & Technology Park to create economic growth and export opportunities in communications, financial, business and information technology services.
Gov. John deJongh Jr. requested information on the CEDS 2012 Update and 2014 Plan. The committee heard a report on recent requests for proposals for a comprehensive, targeted competitive industry study and for an economic modeling system.
At the end of discussion regarding the CEDS reports, deJongh said the current economic development projects were based in the public sector and asked if the private sector has identified any CEDS related projects, other than ongoing discussions about private sector involvement with the downtown revitalization at Christiansted, Frederiksted and Charlotte Amalie.
Also at the meeting, Lawrence Kupfer, president and chief executive officer of viNGN, said the NTIA had given approval for the extension of the territory’s Comprehensive Community Infrastructure Grant so it can finish up all the work through 2013.
Kupfer said viNGN’s network will continue to expand as it completes fiber access points around the territory. He said viNGN is continuing discussions with local internet service providers interested in using viNGN’s high speed fiber optic cable network.
The fiber optic cables will run along all major roads in the territory, with local internet service providers able to connect to the network to sell higher capacity internet access to their customers on the retail market at a lower price.
The CEDS Update is scheduled to be submitted to the federal EDA before the end of the year while the CEDS Plan will be completed in late 2014. Additional funding opportunities for the priority projects will be sought from the EDA and other federal and state agencies, according to Government House.