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UVI RTPARK 2025 TESTIMONY - 1 of 11 Testimony Before the 36th Legislature of the U.S. Virgin Islands Committee on Economic Development and Agriculture July 14, 2025 Opening Statement Good day Chairman Frederick, Members of the Committee on Economic Development and Agriculture, other Honorable Members of the 36th Legislature, and the viewing public. Thank you for the opportunity to provide an update on the progress and vision of the UVI Research and Technology Park (UVI RTPark). Since taking over on September 1, 2024, my vision has been simple – ensure the people of the Virgin Islands benefit significantly from the existence of the RTPark. As a result, we’ve been undergoing a strategic evolution. We have restructured our team, redefined our priorities, and launched new initiatives. At the heart of the RTPark’s strategy is a simple but powerful idea: when we align business attraction with intentional investments in education and workforce development, we can create a self-sustaining ecosystem that benefits the entire Virgin Islands. Figure 1: New UVI RTPark Vision The companies we attract to the Territory don’t just receive incentives, they contribute directly to programs that support our students, strengthen our university, and prepare our residents for meaningful careers in tech and innovation. Every initiative we’ve launched, from youth STEM programming to workforce preparedness, is part of a larger, interconnected system designed to grow our talent pipeline, diversify our economy, and position the Virgin Islands as a competitive hub for knowledge-based industries. UVI RTPARK 2025 TESTIMONY - 2 of 11 It’s important to preface this conversation with the fact that real economic development doesn’t happen overnight. It takes time, intention, and a willingness to build, brick by brick. We are laying the foundation for a future where opportunity is homegrown, and where young people don’t feel the need to leave the Territory to pursue success. What follows is a closer look at how the RTPark is putting this vision into action and the intentional strategies we’re implementing to create lasting impact for Virgin Islanders. Overview of the UVI RTPark The University of the Virgin Islands Research and Technology Park (UVI RTPark) was established in 2002 under Title 17 of the Virgin Islands Code to drive economic growth, diversification, and innovation across the Territory. We do this by providing tax incentives and negotiating strategic partnerships with companies that align with our dual mission of building a robust technology sector while simultaneously strengthening the academic, research, and public service missions of the University of the Virgin Islands (UVI). In alignment with our mandate, the RTPark attracts technology and knowledge-based companies in various sectors including e-commerce, software development, MedTech, FinTech, sustainable development, consulting, etc. Currently, we have 70 RTPark Clients across the Territory: 50 in St. Thomas, 16 in St. Croix, and 4 in St. John. Figure 2: RTPark Clients by Island and Sector How the UVI RTPark Operates Every initiative, program, contract, and salary you’ll hear about today is fully funded through fees collected from RTPark clients. As an autonomous governmental instrumentality, we operate under a model similar to a private, mission-driven corporation. Like them, we are guided by a clear public purpose and sustain our operations through earned revenue—in our case, by negotiating terms with each company and collecting fees for participation in the RTPark’s tax incentive program. Because of this, we are 100% self-sufficient. UVI RTPARK 2025 TESTIMONY - 3 of 11 Process to become a UVI RTPark Client To become a client of the UVI RTPark, companies go through a thorough, multi-step process designed to ensure alignment with the Virgin Islands' broader economic development goals. Prospective clients typically enter the pipeline through outreach, referrals, or direct inquiries and begin by receiving a detailed orientation on the RTPark’s mission, eligibility criteria, and the tax incentives available under Title 17. They then complete a two-part formal application that outlines their business model, financial structure, and proposed commitments to both the Territory and the University of the Virgin Islands. After submission, the RTPark team conducts interviews to evaluate the company’s fit along with its potential impact. Simultaneously, the parties negotiate a term sheet detailing incentives, financial obligations, and strategic contributions. If approved, a rigorous due diligence process, including background checks and a tax/income sourcing analysis, is carried out to ensure regulatory compliance and integrity. Once these steps are completed, and the board approves the terms, the company enters into a 15-year Park Tenant Agreement (PTA), a legally binding document that establishes the terms of participation. The PTA includes key elements such as the RTPark’s equity stake, annual fees, and contributions to UVI, ranging from internships and scholarships to capacity-building programs. It also defines the scope of eligible business activities, outlines compliance and reporting requirements, and addresses terms related to renewal, amendment, and termination. Clarifying Our Compliance Practices That being said, it has come to our attention that public remarks, made both on the Senate floor and in media outlets, have suggested that the UVI RTPark lacks compliance protocols. This is not accurate, and unfortunately, such misstatements can have significant consequences. In fact, a company that was seriously considering relocating to the U.S. Virgin Islands ultimately chose Puerto Rico instead. Their decision was based, in part, on public comments made on the Senate Floor and the uncertainty about the future of the USVI’s economic development programs. Not only was this a missed business opportunity, but it’s also a loss of investment, direct benefits to UVI students, STEM programming, and potential jobs. To clarify, the RTPark operates under a formal, well-defined compliance framework. While our compliance process may not mirror that of the Virgin Islands Economic Development Authority (VIEDA), that is because our agencies operate under different legislative mandates. Difference does not mean absence. Our compliance framework is built to support the RTPark’s hybrid public-private structure and its direct connection to the University of the Virgin Islands. UVI RTPARK 2025 TESTIMONY - 4 of 11 Our Compliance Structure Includes: • Formal operating agreements with every client, outlining: o Management fees o Contributions to UVI o Internship and job creation benchmarks o In-kind and community engagement requirements o Reporting and documentation obligations • Active internal monitoring of all client obligations to ensure compliance • Direct engagement with each UVI RTPark client and their advisors, including their legal, accounting, and tax professionals, to ensure that all contractual and statutory obligations are clearly understood, properly documented, and fully met • Corrective measures available for non-compliance, including enforcement and removal from the program if necessary We understand that we are accountable to the people of the Virgin Islands via the Legislature and mandates of Title 17. Because of this, we take compliance seriously, ensuring that our negotiations with clients result in real, tangible benefits for the community, and that clients are held accountable to the terms outlined in their Park Tenant Agreement (PTA). Business Attraction in FY25 Thus far in FY25, we have activated five new clients across sectors ranging from artificial intelligence and blockchain technologies, to Department of Defense contracting, and we anticipate at least three additional client activations before the end of the fiscal year. Figure 3: RTPark Business Attraction Results FY17 - FY25 While the pipeline continues to grow, client retention remains a priority. In FY25, we had one formal exit, with two exits in the process. These exits were driven by a need to relocate due to family obligations, frequent power outages, and medical circumstances that involve treatments that cannot be performed within our local healthcare system. These transitions reflect the human realities that occasionally influence participation in our program. UVI RTPARK 2025 TESTIMONY - 5 of 11 Understanding the Importance of the RTPark to UVI As I mentioned previously, the companies we attract to the Territory don’t just receive incentives, they contribute directly to the RTPark and the University of the Virgin Islands. Historically, Park Tenant Agreements, our contractual agreement with each client, offered two key avenues for funding and collaboration with UVI: • Tier I - Annual Scholarships and/or Internships • Tier II - Programmatic Commitments: Contributions (financial and in-kind) that provide direct support for strategic projects identified by UVI’s leadership. Figure 4: RTPark’s Historic Contributions to UVI Through this model, the RTPark contributed over $14M in funding to UVI over the past 8 years, including over $3 Million (accrual basis) last fiscal year. These funds were used for internships, scholarships, and other contributions to the advancement of the University, including within key areas such as STEM, research development, entrepreneurship, and innovation. In addition, RTPark companies engage with UVI faculty, offer IT support and operational assistance, and contribute to special projects that enhance the university’s mission. Below I’ve included a breakdown of Tier I and Tier II payments from RTPark Clients to UVI from fiscal year 2017 through 2024. The RTPark Student Success and Innovation Program With both UVI and the RTPark under new leadership, we have evolved Tier I and Tier II commitments into the RTPark Student Success and Innovation Program. This Program gives UVI more flexibility in how it utilizes client commitments and serves as a strategic partnership platform between RTPark clients and the university. It also enables clients to contribute directly to key areas that have been identified by UVI’s President and the UVI Student Government Association. UVI RTPARK 2025 TESTIMONY - 6 of 11 Community Advancement Initiatives I took this job, and committed to this work, because I believe the future of the Virgin Islands depends on the investments we make today in our people, our youth, and our economy. When I look at the data on how our children are performing in school, especially in science and math, it’s clear there is room for improvement. Our Youth STEM Enrichment programs are designed to change that, not just by raising test scores, but by helping young people gain the skills, confidence, and curiosity they need to succeed in life. With this commitment in mind, we rolled out a series of initiatives aimed at advancing STEM education and workforce development across the territory. Youth STEM Enrichment Video: https://youtu.be/V-t9axFsk6g?si=TpKMPqUPdXJHwNRD Youth STEM After-School Program In January 2025, we launched our pilot Youth STEM Enrichment After-School Program, a flagship initiative designed to lay the foundation for long-term STEM engagement across the Territory. The program was strategically introduced at Eulalie Rivera K–8 on St. Croix, Lockhart K–8 on St. Thomas, and Julius E. Sprauve K–8 on St. John to assess implementation across our three unique island communities. With a focus on culturally relevant, hands-on learning, students engaged in activities like coding, robotics, engineering design, and renewable energy projects, all tailored to local contexts. From exploring coral reef conservation to building solar-powered models, students gained valuable skills that are both locally meaningful and globally competitive. The curriculum also aligns with Next Generation Science Standards (NGSS) and emphasizes project-based learning to spark curiosity and develop critical thinking amongst local youth. A total of 94 students participated in the pilot, 28 from St. Croix, 18 from St. Thomas, and 48 from St. John. Presently, we are collecting data and survey responses to evaluate impact and refine the program as we prepare to scale it across all public schools in the Territory; however, early feedback from families have highlighted noticeable gains in student confidence and enthusiasm for science, math, and technology. STEAM Days To extend our impact to even younger learners, we hosted our first Territory-Wide STEAM Day on March 14, 2025, Pi Day, where we engaged Pre-K and Kindergarten students in playful, interactive learning. UVI RTPARK 2025 TESTIMONY - 7 of 11 The event welcomed 161 students from 8 schools across St. Croix for a vibrant day of science, technology, engineering, art, and math activities designed to inspire wonder from the very start of their academic journey. Students rotated through dynamic activity stations crafted to spark creativity, promote collaboration, and support early learning standards. As partners in the event, local organizations like Farm Education for All and the Children’s Museum of St. Croix played a vital role in delivering these engaging, culturally grounded activities. Through this collaboration, the RTPark is not only investing client fees into impactful youth programming but also reinvesting in the growth and reach of local nonprofit organizations that are rooted in and committed to the Virgin Islands community. Youth STEM Summer Camp We built on the success of our after-school program and launched our first-ever free Youth STEM Summer Camp at our HQ on St. Croix and at the UVI XIIID Research & Strategy Innovation Center on St. Thomas. The camp offered an immersive learning experience that blended foundational STEM education with real-world applications unique to the Virgin Islands. Over four themed weeks, students tackled hands-on projects in engineering, technology, motion, and environmental science, while building critical thinking, creativity, and collaboration skills. The program also integrated Social Emotional Learning (SEL) to support the whole child and foster a safe, supportive environment. The camp enrolled 122 students, 64 from St. Croix and 58 from the St. Thomas/St. John District, and was delivered by a team of 18 trained Virgin Islanders, including coordinators and facilitators from each island. The team included local educators as well as young professionals, many of whom returned home from college for the summer and were seeking meaningful employment. This experience not only empowered students but also provided valuable workforce opportunities for emerging Virgin Islands talent, reinforcing the park’s commitment to investing in local capacity and future leadership. Together, these three initiatives are part of a larger vision, one where the RTPark is not only expanding access to quality STEM education but also laying the foundation for long-term economic mobility and paving a path for Virgin Islanders. We’re not just running programs, we’re collecting data, tracking impact, and building a foundation for long-term improvement. By reinvesting client fees into programs that empower Virgin Islanders from an early age, we’re cultivating the next generation of innovators, problem-solvers, and leaders. But supporting STEM education is just one step. UVI RTPARK 2025 TESTIMONY - 8 of 11 Workforce Development To build a resilient and future-ready economy, we must also invest in Virgin Islanders at pivotal career moments, whether they’re preparing to enter the workforce for the first time or seeking opportunities to advance their career. That’s why the RTPark is equally committed to workforce development through programs that create direct bridges between education, training, and employment in high-growth sectors. Professional Pathways Program Video: https://youtu.be/iYYl317MvE8?si=JzPLhYr_qVFhAlHB UVI RTPark Professional Pathways Program (PPP) To bridge the gap between academic learning and career readiness for University of the Virgin Islands (UVI) students, we launched the Professional Pathways Program (PPP) in February of this year. Focused on high-impact fields such as business, IT, and STEM, the program delivered 12 weeks of intensive training on business etiquette, generative AI, resume building, and communication. Participants received individualized coaching through mock interviews and presentations, supported by the Skillsoft platform and facilitators on both campuses. Each of the 20 students accepted into the inaugural cohort received a $500 monthly stipend, and 17 successfully completed the program. Following the instructional phase, students entered a formal internship placement process with RTPark Clients. To date, seven students have secured internships, one is actively interviewing, and three were unable to participate due to new visa restrictions. Others opted for alternative summer opportunities such as academic programs or military training. Beyond PPP, we have also placed additional UVI students in internships and delivered career readiness workshops through the VI Department of Labor’s Summer LIFT Program and UVI’s University Bound Program. Solar Farm and Renewable Energy Learning As part of the workforce development strategy, the RTPark collaborated with UVI to launch the SPARK Initiative to address two critical needs at once: strengthening workforce capacity in renewable energy infrastructure and enhancing energy resilience on St. Croix. This program is designed to equip Virgin Islanders with the skills, certifications, and experience needed to thrive in the clean energy economy while supporting real projects that make our island communities self- reliant. The initiative includes a major expansion of the RTPark's energy infrastructure, a new 423 kW ground-mounted solar farm funded through a FEMA Mitigation 406 grant. This installation is projected to reduce the RTPark’s utility costs by 90% and decrease reliance on the fossil-fuel- based utility grid by 90%, significantly improving operational resilience. And because the solar farm is grid-interconnected, any excess energy produced is fed back into WAPA, contributing to broader energy resilience for St. Croix as a whole. In partnership with the University of the Virgin Islands’ UVI RTPARK 2025 TESTIMONY - 9 of 11 Caribbean Green Technology Center, the project will also feature a dedicated solar teaching array, an advanced educational platform that provides UVI Renewable Energy Technology students and WAPA trainees with hands-on experience in solar energy production, system maintenance, and monitoring. Additionally, the RTPark building itself will be transformed into a “living lab” for energy efficiency and building management, enabling students to engage directly with real-world systems and technologies. This infrastructure expansion supports the long-term growth of the territory’s clean energy workforce, creating pathways for students and residents to obtain professional certifications and practical skills in renewable energy technologies. These efforts align directly with the RTPark’s and Vision 2040’s mission of developing a resilient, future-ready workforce and positioning the U.S. Virgin Islands as a leader in sustainable innovation. Entrepreneurship Programming While building a skilled workforce is essential to the Territory’s economic future, again, it is only one part of the equation. True resilience and growth also come from empowering Virgin Islanders to launch and scale their own ventures. That’s why the RTPark is equally focused on nurturing entrepreneurship by providing local founders with the tools, networks, and resources they need to turn ideas into thriving businesses that create jobs, build wealth, and drive innovation right here in the Virgin Islands. Accelerate VI Since the Fall of 2019 we have consistently launched and innovated the AccelerateVI and Idea Incubator (formerly Pre-AVI) programs. AccelerateVI is a three-month accelerator program dedicated to supporting entrepreneurs who are building innovative technology solutions that address pressing economic, social, and environmental challenges. The program provides early- stage companies with the resources, mentorship, and structure needed to grow and scale their businesses globally. Since its inception, the program's graduates have raised over $5 million in funding and generated more than $10 million in revenue. One notable success story is Boomerang Eats, a food delivery app that launched in the Virgin Islands. This two-sided marketplace connects local restaurants with customers, boosting revenue for small businesses and creating “gig-economy” jobs for Virgin Islanders. Boomerang Eats has since won Startup Battle VI, earning them a $100k investment. Their journey showcases the transformative potential of a great idea paired with the right guidance, turning a small-island startup into a regional success story. Other success stories include Tropical Treasure Hunt on St. Thomas, My Estate Shield on St. Thomas, and PromoTix on St. Croix. UVI RTPARK 2025 TESTIMONY - 10 of 11 The USVI Idea Incubator Similarly, the USVI Idea Incubator offers an accessible 15-week program designed to help aspiring entrepreneurs in the Virgin Islands launch and grow their technologies from ideas to real businesses. Delivered in a hybrid format, similar to AVI, the program combines virtual sessions with in-person events to guide participants through the fundamentals of tech entrepreneurship. The program is offered free of charge, and provides $5,000 in grant funding to participants, ensuring that tech innovation is accessible to all. A 100% completion rate demonstrates the program’s impact. One graduate, Steve Lowe, shared, "This program was heaven-sent at the perfect time in my app journey. I went from knowing nothing about app development to feeling like nothing is impossible in this space." The USVI Idea Incubator and Accelerate VI programs are paving the way for innovation and success in the region, one big idea at a time. Research Commercialization Another core part of the RTPark’s mandate is to support the commercialization of research and technology developed at UVI. While there's clear enthusiasm from UVI researchers and the RTPark, we are still in the early stages of building a system that can better support commercialization. To help close this gap, we have begun exploring how we can provide tailored support in areas like intellectual property development, identifying funding pathways like Small Business Innovation Research and Small Business Technology Transfer grants, and creating structured opportunities for UVI researchers to collaborate directly with RTPark companies. We’ve also engaged an experienced IP and patent attorney, who previously helped lead the Penn Center for Innovation at the University of Pennsylvania, to help design a commercialization framework tailored to the unique needs of the Virgin Islands. Requests and Recommendation for Legislative Support In preparation for today’s conversation, I challenged my team to think creatively about ways we can work with you to boost the economy of the territory. One idea I would like to propose is legislation that enables payroll and tax flexibility for remote workers living in the U.S. Virgin Islands. Currently, many residents working remotely for mainland companies face legal and administrative barriers that make it difficult for their employers to process payroll through the Territory. These challenges often result in missed job opportunities, as some companies choose not to hire or retain employees based in the USVI due to compliance concerns. As remote work continues to grow, this represents a meaningful opportunity to expand our local tax base and allow Virgin Islanders, who are able to work from anywhere, to return home. UVI RTPARK 2025 TESTIMONY - 11 of 11 To address this, I propose the creation of a “Remote Worker Employer Facilitation Act.” This legislation would simplify employer registration for U.S.-based companies hiring USVI residents, establish safe harbor provisions to protect compliant businesses, and clarify payroll withholding and filing requirements. We could model this effort after Puerto Rico’s successful Remote Worker and Export Services legislation, which streamlines tax reporting and encourages companies to support remote employees living on the island. By reducing friction and regulatory uncertainty, we can make the USVI a more attractive place to live and work, bringing home higher-income residents, boosting local spending, and generating new tax revenue without added government overhead. Closing Reflections To conclude, the vision of the RTPark is a self-sustaining cycle where business attraction fuels community investment, workforce development, and economic diversification. One of the things I value most about the RTPark is that it gives us the rare opportunity to think long- term. So much of government and community work focuses on making it through the next crisis. As a self-sustaining organization, the RTPark gives the Virgin Islands the freedom to think boldly, act strategically, and invest in a future driven by innovation and opportunity, not survival. The real results of what we’re doing today, in STEM, workforce development, and economic diversification, won’t be visible tomorrow or next year. But in ten years, we’ll know if we stayed the course and made the right moves. And we’re tracking that progress every step of the way. It is my hope that this comprehensive testimony clarifies that the UVI RTPark isn’t just a tax incentive program, it is a catalyst for innovation, economic diversification, and youth empowerment. We look forward to continuing this work in collaboration with the Legislature, UVI, GVI, and our community partners. Thank you for your continued support and the opportunity to testify today. Respectfully submitted, Eric Sonnier Executive Director UVI Research and Technology Park APPENDIX The University of the Virgin Islands Research and Technology Park Corp. Eric Sonnier Eric Sonnier Executive Director Executive Director, UVI RTPark , UVI RTPark 1 NEW RTPARK VISION Attract Companies STEAM Enrichment Attend UVI Profesional Pathways Program Internships Employment USE CLIENT FUNDS PROMOTE WORKFORCE SPARK EXCITEMENT DEVELOP WORKFORCE 2 TRAIN WORKFORCE GUIDE STUDENTS UVI RESEARCH & TECHNOLOGY PARK Organizational Chart Eric Sonnier Executive Director FACILITY OPERATIONS Sydney Paul Marketing Shanya Hanley Workforce Matt Beadle Business Attraction Siobhan Cioppa Client Activation Kelly Pugh Client Relations Ayshell Grant Marketing Amanda Spann Entrepreneurship Khyra Thomas People Operations COMMUNITY ADVANCEMENT BUSINESS DEVELOPMENT MARKETING Shanice Wilson EA Marie Perkins STEM Education Alfonso Rodriguez Community Advancement John Harrison Finance Bonnie Harrison Compliance Naisha Monelle Facility Operations Kedisha Charles AVICS Shaynoah Bedford IT FINANCE & COMPLIANCE Malachi Peterson Strategic Initiatives & Compliance Torhera Durand Deputy to Exec Dir. Janubia Sweeney AVICS Aminah Saleem Special Assistant 3 Malachi Peterson Strategic Initiatives & Compliance Associate Kelly Pugh Client Relations Manager Eric Sonnier Executive Director Aminah Saleem Special Assistant to the Executive Director John Harrison Director of Finance Matt Beadle Associate Director of Business Attraction Siobhan Cioppa Director of Client Activation Sydney Paul Director of Marketing Naisha Monelle-Joseph Facility Operations Manager Alfonso Rodriguez Jr. Director of Community Advancement Kedisha Charles Senior Associate - AVICS Shanice Wilson Executive Assistant Torhera Durand Deputy to the Executive Director Shanya Hanley Senior Associate - Community Advancement 1 7 Ayshell. H. Grant Senior Marketing Associate Khyra Thomas Senior People Operations Manager Marie Perkins STEM Education Program Manager Bonnie Harrison Director of Compliance MEET THE TEAM = From Virgin Islands = UVI Graduate Legend 4 1 7 MEET THE TEAM Click to Play UVI RTPark Team Video! https://youtu.be/JKbP3nO2XrE 5 UVI 13D Research and Strategy Innovation Center A state-of-the-art facility located on the Orville E. Kean Campus of the University of the Virgin Islands on St. Thomas. Headquartered in St. Croix, we operate across the USVI, offering soft landing spaces that provide a professional environment to launch and grow companies in the region. These spaces also foster collaboration, networking, and engagement with the vibrant local tech ecosystem. A dynamic coworking space located on St. Croix which includes key card access, high-speed WiFi, and access to conference rooms for its members. 64 West (RTPark HQ) Serving as the RTPark headquarters located on the Albert A. Sheen Campus of the University of the Virgin Islands on St. Croix. Accelerate VI Coworking Space St. Croix St. Thomas St. John 5 WHERE TO FIND THE RTPARK St. Croix Consulting and Investment 26 Specialized Software Development 15 Healthcare and Medical Services and Technologies 9 Financial Services and Technologies 7 Internet Advertising and E- Commerce 6 Telecommunications / Infrastructure 6 Sustainability Solutions 1 16 St. Thomas St. John 50 4 6 WHERE TO FIND RTPARK CLIENTS Clients listed on website. RTPARK CLIENT SECTORS Series of Interviews Application (2 Parts) Introduction Negotiate Term Sheet Background Check Tax & Sourcing Analysis 7 Prospective clients are introduced to the RTPark through outreach, referrals, or inbound inquiries and receive an overview of the program’s mission, benefits, and eligibility requirements. Both parties develop and agree on a term sheet (MOA) outlining incentives, commitments, and compliance obligations. The company submits a formal application detailing its business model, financials, and proposed commitment to the USVI and UVI. RTPark staff conducts interviews to assess mission alignment, industry fit, and the company’s ability to fulfill program expectations. A due diligence review is performed on the company and its principals to ensure regulatory and reputational integrity. Clients work with their tax attorney and the RTPark verifies the company’s income structure to confirm eligibility under Title 17 for tax incentive benefits. PROCESS TO BECOME A RTPARK CLIENT Compliance Onboarding Park Tenant Agreement (PTA) The company signs a formal agreement called the Park Tenant Agreement that governs its participation in the RTPark program. The company is onboarded into the RTPark’s compliance system, with guidance on reporting, contributions, and ongoing requirements. 02 01 03 04 05 06 08 07 A Park Tenant Agreement (PTA) is a legally-binding agreement between the RTPark and an approved business (RTPark Client) that outlines the terms of participation in the RTPark program. 8 PARK TENANT AGREEMENT (PTA) OVERVIEW Terms: Term of Agreement (typically 15 years) RTPark Ownership Percentage Financial Commitments to RTPark Tier I Commitments to UVI Tier II Commitments to UVI Other Strategic Commitments Other Items Covered: Eligibility and Scope of Activities Tax Incentives Offered Reporting and Compliance Requirements Termination Clauses Amendment and Renewal Provisions Programmatic Compliance Financial Compliance Review of Park Tenant Agreement (PTA) Client Onboarding and Support Compliance Monitoring Ongoing Communication 9 RTPARK (PTA) COMPLIANCE OVERVIEW PTA is reviewed to identify financial and programmatic compliance requirements specific to each client. Each client receives an onboarding meeting to walk through the compliance process and address any questions. Client payments are tracked through automated accounting, with timely invoicing, payment confirmations, and remittance of any UVI-related funds. Clients are provided with a secure folder containing all required templates, legal references, and submission tools to ensure timely uploads. Annual compliance status is tracked and updated as documentation is submitted. Regular meetings are held to review compliance status and support client understanding and performance. We have begun implementing diverse strategies to attract clients who create jobs and increase the RTPark’s impact on the territory. Pursue Companies that Create Jobs Diversify Lead Sources Improve RTPark Technical Assistance 10 BUSINESS ATTRACTION STRATEGY Business Attraction results from FY17 - FY24. FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25* # New Clients 0 2 4 6 8 10 12 14 11 6 10 13 8 4 3 1 8 11 CLIENT GROWTH *Projected = Leadership Change Client contributions to UVI - Internships and/or Scholarships Start at $15,000 - increase stepwise as revenue hits certain levels Client contributions to programmatic areas of UVI i.e. Computer Science Start at $20,000 - increase stepwise as revenue increases Can be offset by certain, mutually agreed upon in-kind contributions Tier II Tier I 12 TIER I & TIER II UVI COMMITMENTS Since fiscal year 2017, RTPark clients have contributed over $14.3 million (cash basis) to UVI through Tier I and Tier II commitments. Tier I Tier II 2017 2018 2019 2020 2021 2022 2023 2024 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $86,000 $168,550 $522,500 $247,100 $741,128 $394,230 $902,327 $566,941 $988,500 $920,571 $1,351,644 $1,702,997 $1,570,500 $1,595,000 $1,269,839 $1,400,860 13 HISTORIC CONTRIBUTIONS TO UVI: TIER I AND TIER II COMMITMENTS After-School STEM Enrichment Program STEM Summer Camps Potential Partnership with VIDE The RTPark has implemented After-School STEM Enrichment Programs, STEM Summer Camps, and partnerships with VIDE to expand hands-on learning opportunities for students in the USVI. 14 YOUTH STEM ENRICHMENT Youth STEM RTPark client fees help launch local entrepreneurs, fund youth STEM initiatives, and foster a thriving tech ecosystem. Together, we’re building opportunities and shaping the future of our community. 15 To strengthen the local workforce, we believe it is essential to build a comprehensive workforce database, attract companies with clear hiring plans, and develop targeted training programs that align with industry needs, ensuring career pathways and economic growth in the USVI. Build workforce database Increase internship placements Develop training programs 16 WORKFORCE DEVELOPMENT PROFESSIONAL PATHWAYS PROGRAM 17 Advance Technology Transfer Promote Innovative Solutions Through partnerships with UVI, community organizations, and our clients (many of whom are experts in their fields), we can promote innovative solutions for some of the Virgin Islands’ biggest problems: energy, food security, healthcare, and education. Entrepreneurship Programming 18 INNOVATIVE SOLUTIONS S.P.A.R.K is a collaborative effort between the UVI RTPark, the Caribbean Green Technology Center, and the University of the Virgin Islands. The goal of this initiative is to build a more resilient energy future, and prepare the local workforce for careers in advanced energy technologies. Sustainable Practices Advancement & Renewable Knowledge Initiative This project includes a 423kW ground-mounted solar farm to offset the Research and Technology Park's reliance on the grid and a dedicated teaching array that will provide UVI Renewable Energy Technology students with hands-on training experiences in solar energy production and system monitoring. UVI RTPark Solar Farm and Teaching Array Led by UVI, this project will conduct ASHRAE Level 2 energy audits and install energy monitoring systems across 40 campus buildings to reduce the University's utility costs, lower its carbon footprint, and promote sustainable resource use. Resilient UVI Project This program supports UVI’s new AAS degree in Renewable Energy Technology by placing student interns at the RTPark, where they will monitor the building’s energy usage, benchmark performance against industry standards, and recommend improvements to enhance energy efficiency and management. Living Lab-Resilient Buildings Workforce Development Program 19 20 THE UNIVERSITY OF THE VIRGIN ISLANDS RESEARCH AND TECHNOLOGY PARK THANK YOU! THANK YOU! EMAIL ADDRESS eric.sonnier@uvirtpark.net PHONE NUMBER (340) 474-0922 PHYSICAL ADDRESS 64 West Palm Drive, Kingshill, VI 00850