As we search for ideas to stabilize our economy, here are a few of my ideas I have shared over the last few years.
- Survey and Subdivide properties owned by GERS & the Government of the Virgin Islands. Sell at a reasonable cost with GERS providing the mortgage on said property sales. This will allow for local property ownership as well as allow for funding to be generated thru the interest charged on the loans. Also if the purchaser wishes to continue on to construct a building, loans can be offered for such.
- Utilize VINGN in a more productive way to generate revenues. With an over $100 million dollar investment into broadband here in the Virgin Islands, identify and put in place a CEO who can market and promote VINGN to business locally but also outside of the territory.
- Rebrand WICO to include a more cultural feel as well as booths that can be used to showcase our food, products, and culture. By this re-branding, more revenues can be generated for GERS as well as expanding tools that will allow us to promote these islands as a unique destination.
- Funding of a Forensic Crime Lab. The lowering of crime will foster economic growth. When People feel safe, they move around more freely in our community. So many residents stay at home and do not go out especially at night in comparison to just a few short years ago. A lot of this has to do with our crime issue here in the territory. Laws have been passed to create a Forensic Crime Lab and we must invest in such so that safety becomes a top priority for the People of the Virgin Islands.
- Creation of an Entrepreneurship Authority. The majority of revenues that come into this territory comes from the private sector. We need to develop an Authority whose entire purpose is to assist and help develop businesses from the inception. Assist with getting thru all the processes of opening and starting a new business. Showcase comparisons between brick and mortar establishments and internet-based businesses. We are a tourist-based economy there are many types of businesses that can be tapped into.
- Creation and Regulation of Medical Marijuana laws in the territory. Not only will this be another taxable stream for revenue but also assist with those who need this herb for various health issues. As for recreational use, as many states did, have it put on the ballot so that the public as a whole can decide once educated on the Pros and the Cons.
- Public-private partnership for an Amusement Park. One of the luxuries we have is that we are a US territory in the Caribbean. Also one of the greatest complaints we hear has to do with lack of entertainment not only for locals but tourists as well. This investment could be a long-term revenue generator to not only include the amusement park but also the merchandising as well.
- Marketing and Promoting Health Tourism. For example, The Charlotte Kimelman Cancer Institute can be marketed throughout the Caribbean as a premier destination for Cancer Treatment Not only will Health Tourism stir economic growth it will also showcase the US Virgin Islands as a destination that cares about your health.
- Reprogramming of interest derived from funds sitting for years in accounts from bond proceeds earmarked for specific projects that have never started.