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The U.S. Virgin Islands secured two public-private partnerships that are keeping companies in the United States, modernizing the rum industry and significantly benefiting the territory. Our 30-year production agreements with Diageo and Fortune Brands are creating and protecting American jobs, allowing the Virgin Islands government to invest in schools, infrastructure and public needs, and improving the environment. This revenue comes at a time when the Virgin Islands needs it most and already is generating economic growth.
There is no “rum war” between the territories. Congress has not acted on Puerto Rico’s two-year effort to overturn our agreements because it would be an assault on free enterprise. Puerto Rico has secured its own agreement with Bacardi and is pursuing one with Destileria Serralles. There is no reason for federal legislation altering a program that provides economic development tools to advance the interests of both communities, that works as Congress intended to support a vibrant rum industry in the United States, and that encourages the fiscal stability of the territories.”
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