RT Park Building

Special Announcements:

RTPark Hosts VIP Investor Showcase
Wednesday, June 7th Event, New York, New York

The UVI RTPark celebrated Caribbean Week in NYC with a Big Apple VIP Investment Showcase Reception on Wednesday, June 7th, hosted at the Park Avenue offices of Morgan, Lewis & Bockius LLP. The 60 plus VIP guests included business leaders and key members of the Caribbean Diaspora in NY. The RTPark Chairman, Edward Thomas, reminded investors that there is no limit to the number of firms that can be members of the agency. The event encouraged Diaspora investors from technology companies that focus on health and medicine, energy research and system deployment, and marine science related products to #investinparadise. The response has been very positive; existing clients provided messages of support; and Christopher Halliday, managing partner of the hosting firm, told the audience that the RTPark would foster economic growth not only in the USVI but across the Caribbean.

RTPark Releases Program Update
This program update summarizes key achievements of the RTPark and provides a summary of how this specialized economic development program that attracts knowledge and technology-intensive businesses to the US Virgin Islands benefits the people of the US Virgin Islands.  The RTPark HQ undertook analysis to measure its value to the US Virgin Islands using data from its 30 clients active in the network in 2015. The results show that the RTPark program produces a significant contribution and adds value and assists with the objectives of economic stability, diversification and inclusive development.

About/Vision/Mission
The University of the Virgin Islands (UVI) Research and Technology Park (RTPark) is a specialist economic development program that is designed to bring investment to the United States Virgin Islands by managing an incentive program and offering other advisory and technical services. It is a partnership between the private sector, the government of the US Virgin Islands and the University of the Virgin Islands. The goal of the RTPark is to successfully establish the U.S. Virgin Islands as a premier business destination of choice for firms in knowledge and technology intensive sectors, or knowledge-based businesses1.

The core value proposition that the RTPark presents to potential investors is three-fold: tax incentives; the lifestyle of an island paradise; and the opportunity to contribute to improving the quality of life in a community small enough for the activities of a single firm to make a difference. The RTPark presents the US Virgin Islands as an investment destination that provides access to affordable, reliable, world-class technological infrastructure; a sound legal framework that is favorable to inward investment; and impeccable governance systems that are business friendly.

The RTPark was established in 2002 and successfully attracted its first commercial client in 2006. The RTPark is headquartered in the 64 West Center, on the Albert A. Sheen campus of UVI in St Croix, US Virgin Islands. Access to Tier 1 Internet connectivity is made possible by the undersea cables on the Northwest tip of St Croix. There are reliable, first-rate data storage and data management facilities in the Level 3/CenturyLink data center. Fast, effective, affordable, best in class broadband communications services, as well as high-quality data storage and hosting facilities, contribute to making the US Virgin Islands a very attractive destination for technology and knowledge-based firms.

The RTPark is also instituting a targeted and highly intelligent business development program designed for future growth and dynamism. This effort has identified under-explored sectors in areas where needs are plentiful and the potential for disruption is great. Investment projects that are focused on quality are screened for their likelihood of fit with the US Virgin Islands. Targeted clusters and sectors include:

  • Health and medicine, including medical devices, personalized medicine applications, wellness and healthcare management.
  • Energy research and systems, including renewable and clean technology, energy efficiency, energy management.
  • Marine science related products, devices, and services.
  • Sustainability solutions and systems.

The RTPark is keen to attract knowledge-based investors in these clusters and to expand its client base in growing segments of telecommunications and information technology, including Internet advertising, software development, e-commerce, and data management.  

The RTPark currently has forty-five (45) client companies engaged in varying activities, as shown here:

RTPark Client Distribution table

The leadership of the RTPark program has set an ambitious goal of attracting fifty-four (54) client companies to the network by the end of the calendar year 2017.

The growth of the RTPark network contributes to economic activity in the US Virgin Islands and to inclusive growth as all clients are required to make legally binding commitments to UVI. RTPark clients have supported UVI in a number of ways including: student engagement (internships, fellowships and volunteering), student scholarships, faculty engagement, joint research projects or curriculum advice, special projects, advice and operational assistance to UVI, gifts and endorsements, distinguished lectures, knowledge exchanges and employment programs for the US Virgin Islands and UVI graduates. The RTPark management and staff are placing considerable emphasis on assisting clients and UVI to execute against these commitments Working with President Hall, the partnerships are deepening and providing significant support to the university’s academic and research mission.

The RTPark program’s focus is on facilitating long-term value and catalyzing investments that are beneficial to society.  We intend to move in line with global trends that have seen an increase in impact investment - private sector investment that is equally concerned with optimizing private and social returns. Targeting and attracting impact investors to the US Virgin Islands is a key strategy for the RTPark. 



1 The term is defined in VIC Title 17, Chapter 34, Section 482, and includes research businesses, information technology businesses, e-commerce businesses, electronic hosting facilities, agricultural research, and electronics businesses and other know ledge-based businesses.