During the first three months of this year, three performance bond applications were filed with the V.I. Economic Development Authority. According to EDA Chief Executive Officer Percival Clouden, two of the three applications have been approved and the third remains under review by the EDA board of directors. Clouden said the approved applications included:
- $62,500 by Rumina Corporation, LLC for a steel frame building project at the Tutu fire station on St. Thomas;
- $89,117 by Four Star Construction for electrical and roof repairs to the building which serves as the headquarters for the Board of Education on St. Thomas.
Clouden said Thursday the dollar value of the two projects exceeds $600,000 and will provide employment for 12 people in the Virgin Islands. “I see this program as an initiative which stimulates the local economy and encourages the development of various capital projects. This is just one of many tools and resources available to assist the territory’s business community and the EDA remains committed to assisting small to medium-sized businesses in the territory,” Clouden said.
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