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Hi - I am considering a move to the VI. My biggest concern is career, as I don't have a job lined up. I am OK with taking a step back and spending time to find the right opportunity. I have a big savings cushion and can afford to move there, buy a house and either take an interim job to pass the time, or wait 6-9 months to find the right opportunity while not working at all. I am not wealthy enough to move and "retire" forever and nor at this point am I planning to launch an entreprenuerial endevour, I would like to get an actual job, but am not desperate for a paycheck either.... I have heard 100 times that there are no great jobs in the VI, don't get my hopes up..... so, that said, does anyone know what is the deal with EDC companies and/or finance jobs? I have experience in venture capital, equities research, M&A, and real estate development with a degree in finance from Wharton and an MBA from another top 5 school. I have heard that EDC companies would hire someone like me (after a year residency?).... any feedback? Do these EDC companies employ 10 people doing the actual work of the companies, or are they just "shill" employees for rich people to have tax shelters? What is the REAL deal with all these finance companies having offices in USVI? ...
Posted : May 24, 2009 2:52 am
The good news is that there are EDC opportunities in the USVI. The (maybe) bad news is that we haven't yet seen (at least, I haven't seen) President Obama's EDC program or the EDC program of the Congress vis-a-vis the World Trade Organization.
You may want to check out the following:
http://www.usviedc.com/?page_id=141
http://www.bornnfirm.vi/EDC.htm
http://www.usvieda.com/
My own estimate (I'm a development economist and professional forecaster) is that there will always be EDC opportunities in the Caribbean and that 2010 will see substantial growth as the rest of the world recovers from the current dismal situation.
Maybe we can start a VI Chapter of Wharton alumni. (I'm Class Correspondent for WG'66).
Posted : May 24, 2009 8:22 am
I slightly know a couple of guys who work for EDC companies. They are younger men (under 30) & are making very good money from here & have the sort of degrees you do. I have no clue what their job actually is but another friend mumbled something about "managing some rich guy's money" when I asked her what they did. So yes, there are people employed here doing real jobs for EDC companies.
Posted : May 24, 2009 10:12 am
My guess is with the overwhelming support Obama has received from the USVI, he will continue to make it attractive to have EDC's?
Posted : May 24, 2009 5:31 pm
Support? yes. Votes? no.
Posted : May 24, 2009 5:50 pm
Hi Sfuller,
I don't know who is hiring at the moment, but if you go to our site at www.usviedc.com you can download a current list of EDC companies with their contact information.
Edward - Thanks for including our site in your reply. I agree there are opportunities for the USVI EDC program, and we may well be in the path of some exciting growth in the near future.
Regards,
Edgar
Posted : May 25, 2009 12:54 am
