U.S. Virgin Islands
1 | P a g e U.S. Virgin Islands Economic Review Bureau of Economic Research December 2007 Overview Reservations about the durability of the expansion of the economy of the US Virgin Islands can now be set aside in light of its reasonably good performance in 2007. The economy held firm in line with projections for real Gross Territorial Product (GTP) growth of 3.6 percent. Growth was supported by gains in output in manufacturing, construction, tourism and business services. Not all sectors posted growth, however. The Financial Activities and the Information sectors were two that under-performed. The Financial Services sector continued to lose jobs, a fall-out from the American Job Creation Act 2004 which changed requirements for residency and source of income under the Economic Development Commission (EDC) incentive program. Job losses in the telecommunication industry caused a decline in employment in the Information sector. The manufacturing sector has also shed some jobs, the result of the closure of a pharmaceutical company. …
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