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July 24, 2008 GOVERNOR SIGNS DIAGEO AGREEMENT LEGISLATION INTO LAW; ACT 7012 CREATES FUTURE OF ECONOMIC OPPORTUNITY FOR USVI
On St. Croix Thursday, Governor John P. deJongh, Jr. signed into law legislation, passed by the 27th Legislature, which will create a future of opportunity for the people of the Virgin Islands. With the governor’s signature, Bill 27-0213 became Act No.7012. The measure, passed on July 9 and signed into law today authorizes a public-private partnership between the Government and Diageo, USVI and heralds a historic turning point in economic opportunities for the people of the Virgin Islands. Undoubtedly, the global success of Diageo PLC, the parent company of Diageo U.S.V.I., reflects the company's work ethic, quality products and vision. It is the good fortune of the Virgin Islands that Diageo will become a part of St. Croix's business landscape," deJongh wrote in a transmittal letter to Senate President Usie R. Richards. The coupling of qualities of Diageo, when combined with the opportunities and cooperative vision of the Virgin Islands, creates the capacity for tremendous quantifiable financial return for the Territory, deJongh added. "Diageo will build a distillery on St. Croix with a capacity of twenty (20) million proof gallons per year for the production of all of its Captain Morgan branded rum products sold in the United States. That production will begin in the year 2012 and, under the terms of the Agreement you have ratified, will continue for 30 years during which time it is estimated that the Virgin Islands will receive revenues totaling approximately $2.9 billion. DeJongh said he is sure that the elected leaders of the territory can all agree that much can be done for the good of the Virgin Islands and its people with these greatly needed funds. "I am proud to say that this legislation represents a collective effort of the Executive Branch and the Legislature. It enjoys the overwhelming support of the community. I am proud of, and grateful for, the tremendous effort of all who worked to bring us to this point. I look forward to working with you and your colleagues in the coming months and years as we continue in our efforts to build the economy of the Territory so that we can provide real opportunities for all of our people to prosper and progress." The governor also said Thursday he is pleased that Diageo has made substantial progress towards selecting a site for the multi-million dollars rum distillery on St. Croix. "Officials of Diageo have made several trips to St. Croix since the Senate voted to ratify the company’s agreement with the government. Team Diageo has had meaningful meetings with DPNR officials as well as owners of various sites that could be acquired for the development of the distillery." DeJongh said he looks forward to Diageo, USVI concluding its negotiations for a distillery site on St. Croix. The Governor again thanked the ten senators who voted on the night of July 9 for real economic progress for the territory. Those senators were: Liston Davis, Carlton Dowe, Louis Patrick Hill, Norman Jn Baptiste, Shawn Michael Malone, Basil Ottley, James Weber III, Carmen Wesselhoft, Celestino White and Alvin Williams. |
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