Adding value to economic development
Washington insider brings expertise back home to St. Croix
Maura Curley
He’s savvy, smart, and most important, a straight shooter, who can communicate the complexities of government programs.
D. Jerry Garcia, who grew up in St. Croix, has been around Washington and the world.
Now he’s back home.
Last October Garcia assumed the role of marketing director for Virgin Islands Economic Development Authority. (VIEDA), becoming the face of an authority in transition.
VIEDA is a semi-autonomous government entity, responsible for economic development in the Virgin Islands. Five major component include the Industrial Park Development Corporation, Economic Development Commission (EDC), the Government Development Bank, Small Business Development Agency and the Enterprise Zone.
It’s been sometimes difficult for citizens to understand this bureaucracy’s benefits. But Garcia wants to change that, and is bringing his education and expertise to the task.
After doing graduate work at University of Düsseldorf, Garcia was a consultant for the European division of Proudfoot Consulting. American Express, and British Aerospace were among his clients. He returned to St. Croix, where he was executive director of the St. Croix Chamber of Commerce from 1989 through 1992.
Since then Garcia, who has a working grasp of about five languages, has headed his own marketing agency with clients in Europe, the Caribbean and the United states. He also worked as a special aid to President Clinton’s advisory committee on human radiation experiments, reporting directly to the president. He still has a house on Capitol Hill.
Despite the current economic climate, Garcia is optimistic about the prospects for recovery, and is helping position the Virgin Islands for thoughtful growth.
A comprehensive marketing plan was finalized in mid March, and innovative new initiatives are being implemented and promoted.
A draft for a new EDC law has been rewritten to be more in sync with the world marketplace. Garcia says it was previously geared toward an “ outmoded manufacturing model” and not investor friendly to emerging technologies. The draft has been submitted to the EDA board for review, and will be sent to the legislature for a vote.
Meanwhile, new industries are being targeted for investment, which include green technology, hedge funds, and movie production.
A cost-benefit ratio analysis for all EDC applicants, utilizing computer software, now analyzes beneficiary data. It is able to forecast via a five-year performa the benefit to the territory’s economy.
Upgrades have been made to the industrial park, bringing it into the 21st century with the addition of T-1 lines.
A three minute in-flight video promoting the Virgin Islands as an investment destination has been completed and will soon be aired on over 17,000 Delta flights.
Garcia recently returned from Seatrade in Miami, where he was wooing manufacturers of cruise ship supplies. He has also traveled recently to Hawaii and New York, promoting the “ allure of the Islands” and seeking new business investment.
Closer to home Garcia wants to encourage small business development and let small business owners know about the Development Bank, which offers several loan programs. (In early March VIEDA board voted to fix the rate of all its loans at Wall Street Journal prime rate plus one and a half percent. The rates for different loans previously ranged from four to nine and half percent.)
Garcia hopes to increase agency transparency, in keeping with the objectives of the Obama administration, and says more community forums are being planned for 2009.
He acknowledges his efforts made now may not see fruition for a couple of years. But that doesn’t deter him.
”I want to make sure about two things,” he says, “that local citizens understand what the Economic Development Authority means to the Virgin Islands, and that outsiders know we exist
Maura Curley is publisher of virginvoices.com
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