RT Park Building

Special Announcements:

UVI RTPark Program Concludes Three-Year Strategy With Strategic and Operational Success
The RTPark is a specialist economic development agency that works to bring investment to the United States Virgin Islands, by managing an incentive program and offering advisory and technical services. Over the years since enrollment of clients into the program, the organization has maintained a vibrant partnership with the private sector, the government of the USVI and the University of the Virgin Islands, while seeking to promote economic development and make social investments for the benefit of the United States Virgin Islands. As we end the year 2017, the accomplishments of the past six months, despite the intervening natural disasters, give the RTPark Program confidence in its ability to thrive in the year ahead.

Growth In Client Base n equals 52

UVI RTPark Revenue and Expenditure Chart, 2015

UVI RTPark December 2017 program update summarizes key achievements of the RTPark program over the years 2015-2017, giving data on operational performance and achievements against objectives.  These data show that there has been significant growth and the program adds value to the U.S. Virgin Islands. Through its core business as a specialized economic development entity, the program attracts knowledge and technology-intensive businesses to the US Virgin Islands and generates benefits for the people of the US Virgin Islands.

RTPark Program Brief – Guide to Doing Business The program has a streamlined application process that allows for the Board to review and assess suitability of qualifying firms within a period of ninety days

UVI RTPark Program Takes Action To Help Restore and Rebuild The U.S. Virgin Islands
The RTPark Program, working under the direction of the Board of Directors, is undertaking projects to support relief and recovery from the devastating effects of hurricanes Irma and Maria.

RTPark Stakeholders’ Workshop – Recovery, Renewal, Resilience
We extend a special invitation to you to attend the Recovery, Renewal and Resilience workshop scheduled for March 8, 2018, on the UVI St. Thomas Campus. The primary purpose of the workshop is to bring together thought leaders and experts in disaster planning and recovery practices who can inform and facilitate business owners’ recovery as well as encourage long-term resilience and continuity planning. Workshop participants will include resource providers, those engaged in emergency management and business owners who will share their recovery stories. The goals are to build our collective best practices, empower business owners to put in place resiliency strategies and promote cooperation and collaboration among business associations and economic development agencies. The workshop, which is jointly hosted by UVI RTPark, UVI College of Business and SEAT Caribbean, is targeted to business owners, professional associations, economic development agencies, government officials, UVI and community stakeholders. We encourage you to save the date and will supply registration details and an agenda soon.

Major Donation Appeal
The RTPark program has launched a major donation appeal to benefit the Fund for The Virgin Islands - set up by the Community Foundation of the Virgin Islands, (CFVI), a 501(c)(3) organization. All donations are tax-deductible and one hundred percent of all contributions from our RTPark clients, stakeholders, friends, and members of our community will be presented directly to this Fund via our RTPark Rebuild USVI campaign appeal.
Monies raised will be used to support the needs of Virgin Islanders. To make a contribution to help those impacted by this natural disaster, you can donate by clicking here.

Get Involved Today.

You can also follow us on Facebook at UVI Research and Technology Park or on Twitter @UVI_RTPark

Gaming for Good – “Game On” for Hurricane Relief in the US Virgin Islands
With support from UVI RTPark, Arcade Distillery will develop a digital fundraiser in the form of an online game focused on recovery and rebuilding initiatives. The company will donate 100 percent of its profits from the game to relief efforts. This partnership will bring a dynamic edge to community engagement and attract young Virgin Islanders. Special offerings for sponsors of the game include opportunities to showcase sponsor’s logo through brand placement, appear as an avatar in the game, and earn a listing in the credits. 

Contacts: UVI RTPark: ezall@longviewstrategies.com; Arcade Distillery - socialimpact@arcadedistillery.com.

RTPark and Arcade Distillery look forward to engaging with sponsors, donors, and the community as they begin development on the project in 2018. For more information on the Arcade Distillery organization, visit: www.arcadedistillery.com

RTPark Program Update June 2017
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.

Net Benefit Analysis: UVI RTPark Program, 2015
Item TOTAL (US $million)
2. Gross contribution = the sum: (2.1)+(2.2)+(2.3) 88 to 93
    2.1 Entity business expenditure 80 to 84
    2.2 Entity expenditure on UVI commitments 0.5
    2.3 Other USVI expenditure 7 to 8
3. Tax benefits = the difference: (3.1)-(3.2) 21
    3.1 Taxes paid 6.5
    3.2 Taxes foregone 28
Net benefits to the USVI Gross = Ʃ (Gross contributions - Net tax benefits)

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 program 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. In 2013, the RTPark Program built and occupied the 64 West Center, located on the Albert A. Sheen campus of UVI in St Croix, US Virgin Islands, using it as its headquarters. As a result of severe damage, the headquarters is temporarily relocated to downtown Christiansted.

Firms doing business in the US Virgin Islands have access to Tier 1 Internet connectivity through undersea cables on the Northwest tip of St Croix. 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. These factors all contribute to making the US Virgin Islands a very attractive destination for technology and knowledge-based firms.

  • 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 has instituted a targeted and highly intelligent business development program designed for future growth and dynamism. 

The RTPark currently has fifty-two (52) client companies engaged in varying activities, as shown here:

UVI RTPark Business Segments

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, including through clients making pledges to the UVI Innovation Fund.

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 program. 

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 knowledge-based businesses.