Enterprise Zones for Revitalizing Historic Areas
The Rehabilitation Tax Credit is offered to those who are committed to revitalizing the Territory’s rich cultural and economic areas, designated as Enterprise Zones. Through the Enterprise Zone Program, investors can be eligible for tax incentives and economic development benefits for working to improve historical communities throughout the U.S. Virgin Islands.
Currently, there are four designated enterprise zones: Christiansted (St. Croix), Frederiksted (St. Croix), Savanne & Downstreet (St. Thomas) and Garden Street & Upstreet (St. Thomas).
Working with the Enterprise Zone Commission (EZC), investors who receive the rehabilitation tax credits must work to improve aspects of an enterprise zone, including community aesthetics, job training and infrastructure development.