Contract Economic Development Jobs (NOW HIRING)

Description *** Board Members will be paid $50.00 / meeting*** In accordance with Virgin Islands Code Title 29 1102 the governing Board of the Economic Development Authority is hereby established. The Governing Board of the Economic Development Authority shall be composed of members appointed by the Governor with the advice and consent of the Legislature. The Economic Development Authority Board members shall be composed of seven (7) members: Three (3) members shall not be employees of the Government of the Virgin Islands or the Government of the United States

Of the non-governmental employees, one must be a resident of St. Thomas, one must be a resident of St. John, and one must be a resident of the St.

Croix. They shall be appointed by the Governor with the advice and consent of the Legislature Three (3) shall be appointed by the Governor from among the heads of cabinet-level executive departments or agencies or his executive staff; and One (1) shall be appointed from the Board or executive staff of the Government Employee Retirement System, Virgin Islands Port Authority, or the University of the Virgin Islands. All members of the Board shall be learned in and shall have education, experience or expertise in one or more of the following areas: finance, law, economics, accounting, business, banking, or marketing; provided that at least five separate disciplines are represented on the Board and that no person who is currently employed by a bank doing business in the Territory may be appointed as a member of the Board.

Duties and Responsibilities In accordance with the Virgin Islands Code Title 29 1102 the Board, within the context of this subchapter and the requirements of due process, shall have at a minimum, the following powers, and responsibilities: Adopts and alters a corporate seal. Acquires, leases, mortgages, sells, or otherwise manages real and personal property, including for debt recovery or investment protection. Sets and collects service fees.

Sues and be sued. Employs and contracts officers, agents, employees, and professionals, and determines their compensation. Enacts, amends, and repeals bylaws, rules, and regulations for internal governance and for its subsidiaries.

Accepts and manages grants, loans, contracts, and agreements from federal, territorial, or other governmental entities. Participates in U.S. and V.I

government programs aligned with its purposes. Minimum Qualifications Must demonstrate expertise in at least one of the required fields (finance, law, economics, accounting, business, banking, marketing). Position Factors FACTOR 1 - KNOWLEDGE, SKILLS, AND ABILITIES Knowledge of economic development, financial management, and corporate governance.

Skills in strategic planning, oversight of large-scale projects, and policy review. Analytical ability to assess economic trends and evaluate investment opportunities. Decision-making ability to weigh competing interests and protect the Territory's resources.

Communication skills to interact effectively with stakeholders, government officials, and the business community. Commitment to transparency, accountability, and fostering sustainable growth. FACTOR 2 - SUPERVISORY CONTROLS The Board elects annually one of its members to serve as Chairperson.

Members may be removed by the Governor for cause. The Board may appoint committees from its membership and delegate powers to its Chief Executive Officer, officers, or agents as deemed proper. The Board may hire, discipline, and terminate staff, and may employ private counsel or full-time attorneys.

FACTOR 3 - GUIDELINES Terms: Non-government members serve for three (3) years and may be reappointed. Government members serve during their tenure in their government position or at the pleasure of the Governor. Vacancies: Any vacancy is filled only for the remainder of the unexpired term, with members serving until successors are appointed and confirmed.

Compensation: Government members shall not receive additional compensation beyond their government salaries. Non-government members shall receive $50 per day (or fraction thereof) for official work of the Authority. All members are entitled to travel reimbursement or per diem expenses for official duties.

Meetings: Five (5) members constitute a quorum. Board actions are taken by majority vote. Training/Travel: Members may receive compensation and expense reimbursement for approved education or training related to Board duties, in or out of the Territory.

FACTOR 4 - SCOPE AND EFFECT The EDA Board plays a critical role in shaping the future of the Virgin Islands economy. It aids the Government in fulfilling its duty to stimulate economic growth, attract investment, promote job creation, and strengthen the Territory's competitiveness. Board members, acting within the scope of their duties, are shielded from civil liability except in cases of willful misconduct or gross negligence.

The Authority exclusively exercises the powers and duties formerly held by the Government Development Bank (GDB), Economic Development Commission (EDC), Industrial Development Park Corporation (IDPC), and Small Business Development Agency (SBDA). The Board's decisions directly affect commerce, investment, employment, and the economic stability of the Territory. Necessary Special Qualifications Must be a bona fide resident of the Virgin Islands.

Must meet statutory eligibility requirements for government or non-government membership. Strong commitment to economic development, transparency, and sound governance. Must be free of conflicts of interest that could impair judgment or decision-making.