The U.S. Virgin Islands is considering expanding its maritime capabilities with a new shipyard in the South Shore Trade Zone (SSTZ) on St. Croix, according to the V.I. Economic Development Authority, which commissioned a feasibility study conducted by First Marine International, a subsidiary of Royal Haskoning DHV. The VI Consortium reported recently that a feasibility study indicates a new shipyard could substantially increase employment and economic benefits in the U.S. Virgin Islands. The article points out that while the study concludes the economic viability of the shipyard, it recommends further evaluations concerning capital expenditures and exploring alternative funding sources before proceeding. The potential for private sector involvement and the development of a skilled workforce through local training and apprenticeships are seen as critical elements for the shipyard’s success.

The possibility of the shipyard bringing significant boost to local economic growth is fantastic news. Read the full article here.

Photo from VI Consortium