Learn about USVI Investor Relations including our News & Press Releases, Projects, and Team.
Have questions? Reach out to us directly.
Learn about USVI Investor Relations including our News & Press Releases, Projects, and Team.
The Virgin Islands Public Finance Authority (the "PFA" or the "Authority") was created by Act No. 5365 as a public corporation and autonomous governmental instrumentality, operating on behalf of the Government of the United States Virgin Islands (the "Government"). Its primary duties are 1) to aid the Government of the United States Virgin Islands in the performance of its fiscal duties; 2) to raise capital, public or private, for essential public projects; and 3) to create programs and enter into contracts which will support the financing needs of the Government, promote economic recovery, and contribute to the stability of the Territory’s economy.
The United States Virgin Islands Code provides that the debts, obligations, contracts, bonds, assets, receipts, expenditures, accounts, funds, facilities and property of the Authority shall be deemed to be those of the Authority and not to be those of the Government or of any of its offices, bureaus, departments, agencies, commissions, branches, agents, or employees.
Consequently, the Authority may borrow money, enter into contracts, and accept grant proceeds for public purposes. The PFA may also 1) lend the proceeds of bonds and/or other financing instruments to the Government; 2) guarantee loans and financial obligations incurred by the Government; 3) invest its funds; 4) arrange for the investment of funds belonging to the Government; 5) purchase notes and other obligations or instruments secured by real property; 6) execute contracts and financing instruments; 7) appoint, employ, and contract for the services of officers, agents, employees, and professional service providers as the Authority may deem appropriate; and, 8) exercise all such incidental powers as may be necessary or convenient for the purposes of carrying out the business objectives and interests of the Authority.
For more information about the USVI’s investor website please contact Lonnie Soury at (917) 519-4521, or Lsoury @soury.com.
U.S. VIRGIN ISLANDS — The Bryan-Roach Administration has followed through on its promise to provide tax refunds to thousands of Virgin Islanders awaiting relief. Refund checks are being issued today to 5,044 Virgin Islands taxpayers totalling $14,706,351.17.
Governor Albert Bryan Jr. and Lieutenant Governor Tregenza A. Roach, Esq. are delighted to be able to follow through on a commitment to pay Virgin Islands taxpayers who are due refunds what they are owed. This payout reflects tax returns that were filed with the Bureau of Internal Revenue by March 1, 2023.
“The Bryan-Roach Administration is working to make life better for Virgin Islanders,” Governor Bryan said. “We know that the financial burdens being faced by far too many of us require a concerted effort on the government’s behalf. Issuance of these tax refund checks is a vital step in easing the strain. There is more work to be done and I vow to ensure that every Virgin Islander who is owed a tax refund receives one.”
On September 9, the Government of the Virgin Islands announced it would pay out an additional $27 million in income tax refunds over the next 30 days. Today’s check distribution follows earlier distributions of $5.1 million to 1,260 taxpayers in July and another $5.1 million to 1,745 taxpayers in August.
The Bryan-Roach Administration is investing in the Territory’s people, infrastructure, and future through transparency, stabilizing the economy, restoring trust in the government, and ensuring that recovery projects are completed as quickly as possible. Visit transparency.vi.gov
U.S. VIRGIN ISLANDS – In an impassioned statement during Monday’s Government House Weekly Press Briefing, Governor Albert Bryan Jr. announced that the Government of the Virgin Islands will pay out an additional $27 million in income tax refunds over the next 30 days. This payout follows earlier distributions of $5.1 million to 1,260 taxpayers in July and another $5 million to $5.1 million to 1,745 taxpayers in August, marking yet another decisive step in the Bryan-Roach administration’s efforts to deliver financial relief to Virgin Islanders.
Governor Bryan made the announcement as part of a broader call to action to address the economic pressures facing Virgin Islanders grappling with inflation. Along with the announcement of the income tax refund payments, the Governor urged the 35th Legislature to take up legislation that would incrementally raise the minimum wage from the current rate of $10.50 per hour.
“Today, I’m proud to announce an additional $27 million in income tax refunds will be issued to Virgin Islanders who have been waiting patiently for what they are owed. This is just one part of our strategy to provide immediate financial relief to our people who are feeling the weight of inflation,” said Governor Bryan. “But we must go further. I’m calling on the 35th Legislature to consider legislation that would increase the minimum wage. Our workers deserve a fair wage that keeps pace with the rising cost of living in our territory.”
The $27 million in planned refund payments will go to taxpayers who are due a refund, provided their filings are free of errors or not under audit. This significant payout comes on the heels of the $5.1 million in refunds distributed in both July and August, reinforcing the administration’s steadfast commitment to addressing the backlog of unpaid refunds.
“We are making real progress in resolving the tax refund backlog, and this latest round of payments is proof of our dedication to getting Virgin Islanders their money,” Governor Bryan said. “Since taking office, we have paid out more than $300 million in refunds, and we will not stop until every taxpayer who is owed a refund receives it. Every dollar back in the hands of our people is a dollar that strengthens our local economy.”
Governor Bryan’s announcement reflects his administration’s wider fiscal and economic policy, which includes advocating for measures to ease the financial burden on residents amid surging inflation. In his address, the Governor stressed the importance of giving residents the resources they need to weather these tough economic times, pointing to the proposed minimum wage legislation as a critical step.
“Our income tax refunds are providing immediate relief, but we must also look toward long-term solutions,” Governor Bryan emphasized. “An increase in the minimum wage is a step in the right direction, and I urge the Legislature to join me in supporting this necessary change. The people of the Virgin Islands should not have to choose between paying their bills and putting food on the table.”
Governor Bryan also reminded taxpayers to ensure their filings are complete, accurate, and not under audit to avoid any delays in receiving their refunds. Those who meet these conditions will receive their refunds within the next 30 days.
With this latest payout plan, the Bryan-Roach administration continues to focus on financial accountability, economic recovery, and improving the quality of life for all Virgin Islanders. The Governor reaffirmed his commitment to making sure that the territory’s tax refund backlog is fully addressed, while also pushing for broader economic reforms to benefit the workforce and stimulate economic growth.
U.S. VIRGIN ISLANDS – As part of a comprehensive initiative to breathe new life into the U.S. Virgin Islands’ town centers, Governor Albert Bryan Jr. today announced $1 million in funding aimed at revitalizing downtown Charlotte Amalie, Christiansted, and Frederiksted. The Governor’s announcement is part of the administration’s ongoing strategy to bolster economic activity, strengthen the cultural fabric of the islands, and address long-standing community concerns.
“Downtown development is a priority for the administration, and we are actively pushing solutions to revitalize our towns,” Governor Bryan said during his weekly press briefing. “From our proposed abandoned and derelict buildings legislation to our renewal efforts on Main Street, Veterans Drive, Hospital Street, and Frederiksted Jazz, we are committed to rebuilding and reimagining the heart of our communities.”
This planned funding initiative includes $750,000 in grants to be awarded to the St. Thomas Chamber of Commerce, Our Town Frederiksted, and the Christiansted Retail & Restaurant Association (CRRA). Each organization will receive $250,000 to organize events and activities that will enhance after-hours economic activity. The funding is designed to support both traditional events and introduce new opportunities for community engagement and growth.
“These planned grants will enable our organizations to reinvigorate downtown areas, continuing beloved activities like Jump-Up, Sunset Jazz, and Miracle on Main Street, while also providing the resources to develop new, innovative experiences for residents and visitors alike,” said Governor Bryan.
The Governor also pointed out that this planned funding is a key part of the Bryan-Roach administration’s broader strategy to tackle challenges that have hindered downtown development. Central to this is a legislative proposal submitted by the Governor to the 35th Legislature, which seeks to address the ongoing issue of abandoned and derelict buildings.
In addition to the planned downtown revitalization funding, Governor Bryan also announced a significant commitment to the 25th Anniversary of the Taste of St. Croix. The administration has planned to allocate an additional $300,000 to relaunch St. Croix’s Food and Wine Week in 2025. This event will spotlight local culinary talent alongside world-renowned chefs, reinforcing the territory’s position as a premier food and tourism destination.
“This funding is part of our larger vision to not only restore but elevate our downtowns and drive economic growth across the Virgin Islands,” Governor Bryan remarked. “We are committed to making sure that St. Croix’s Food and Wine Week, and all our downtown activities, are successful and beneficial for our community.”
Governor Bryan’s downtown revitalization initiative is designed to stimulate growth, foster community pride, and attract visitors to the territory’s historic town centers. The planned funding and the administration’s comprehensive approach, including the proposed legislation on abandoned properties, demonstrate a commitment to revitalizing the Virgin Islands for both present and future generations.
For more details on this planned funding and upcoming initiatives, including the legislative proposal on abandoned buildings, stay tuned to further announcements from Government House.
Have questions? Reach out to us directly.