EDC, Enterprise Zone Commission approve three applications

ST. CROIX — The Virgin Islands Economic Development Commission approved two new applications during a decision meeting on Thursday, granting tax incentives to financial consulting firm Bloom Analytics and MJB Caribbean Ventures, which owns the Hotel 1829 and At Home in the Tropics Bed and Breakfast on St. Thomas.

Bloom filed an application for tax incentives in February 2024 and stated their case to the EDC during a public hearing in August. All of the company’s clients will be located outside of the territory. On Thursday, the commission granted 100% of tax incentives authorized by law for a 30-year period. MJB Caribbean Ventures was organized in 2015 and applied for tax incentives in June. The commission approved all tax incentives for a 20-year period on Thursday. Both matters were discussed in executive session.

Earlier on Thursday morning, the Enterprise Zone Commission approved an application for tax benefits by In the Mix Cakery, to be located in the William Roebuck Industrial Park near Rohlsen Airport on St. Croix. The commission entered into a brief executive session to discuss the application.