(a) The Small, Local, and Disadvantaged Business Enterprise Program is established within the Virgin Islands Small Business Development Agency.
(b) The Small Business Development Agency shall administer the Virgin Islands Small, Local and Disadvantaged Business Enterprise Program with the objective to stimulate and foster the economic growth and development of businesses based in and serving the Virgin Islands, particularly certified business enterprises, with the intended goals of and responsibility for:(1) Stimulating and expanding the local tax base of the Territory;(2) Increasing the number of viable employment opportunities for Virgin Islands residents;(3) Extending economic prosperity to local business owners, their employees, and the communities they serve;(4) Providing information and assistance to business enterprises regarding the certification and application process;(5) Determining a business enterprise’s or joint venture’s initial eligibility for certification under this subchapter and reviewing and determining the continued eligibility of business enterprises and joint ventures certified under this subchapter;(6) Determining the percentage or the dollar amount of a project performed by a joint venture which may be attributed toward an agency’s percentage goal;(7) Monitoring agency contracting and procurement activities to the extent those activities are related to the achievement of the goals set forth in this subchapter;(8) Monitoring third-party contracting and procurement activities to the extent those activities are related to achievement of goals related to contracting with and procuring from certified business enterprises; and(9) Conducting an audit of the financial, corporate and business records and an investigation of any small contractor or minority business enterprise that applies for or is awarded a set aside contract for the purpose of determining eligibility for awards or compliance with the requirements established under this section.
(1) Stimulating and expanding the local tax base of the Territory;
(2) Increasing the number of viable employment opportunities for Virgin Islands residents;
(3) Extending economic prosperity to local business owners, their employees, and the communities they serve;
(4) Providing information and assistance to business enterprises regarding the certification and application process;
(5) Determining a business enterprise’s or joint venture’s initial eligibility for certification under this subchapter and reviewing and determining the continued eligibility of business enterprises and joint ventures certified under this subchapter;
(6) Determining the percentage or the dollar amount of a project performed by a joint venture which may be attributed toward an agency’s percentage goal;
(7) Monitoring agency contracting and procurement activities to the extent those activities are related to the achievement of the goals set forth in this subchapter;
(8) Monitoring third-party contracting and procurement activities to the extent those activities are related to achievement of goals related to contracting with and procuring from certified business enterprises; and
(9) Conducting an audit of the financial, corporate and business records and an investigation of any small contractor or minority business enterprise that applies for or is awarded a set aside contract for the purpose of determining eligibility for awards or compliance with the requirements established under this section.
(c) Through advocacy, business development programs, and technical assistance offerings, the Chief Executive Officer shall seek to maximize opportunities for certified business enterprises to participate in:(1) The Government’s contracting and procurement process;(2) The Government’s economic development activities; and(3) Government and private-sector business opportunities that occur in the Virgin Islands.
(1) The Government’s contracting and procurement process;
(2) The Government’s economic development activities; and
(3) Government and private-sector business opportunities that occur in the Virgin Islands.
(d) The Chief Executive Officer shall:(1) Maintain, grow, and advocate on behalf of certified business enterprises in the following areas:(A) Certified business enterprises with less than $10,000.000 in annual revenue;(B) Under separate criteria, certified business enterprises with over $10,000,000 in annual revenue; and(C) All certified business enterprises that desire to participate in contracting opportunities with any government corporation.(2) Maintain and provide public access to a list of all current government contracting and procurement bids and solicitations;(3) Maintain and provide public access to a list of other current government contracting and procurement bids and solicitations, including those of the federal government;(4) Monitor and prepare recommendations to the Commissioner of Property and Procurement to ensure agency achievement of the goals set forth in this subchapter;(5) Educate the public, including residents and businesses, about the Territory’s programs for certified business enterprises;(6) Stimulate and foster greater opportunities for certified business enterprises to participate in the Government’s contracting and procurement process and provide recommendations to the Commissioner of Property and Procurement and the Governor on ways to increase the participation;(7) Maintain contacts with the business community, including financial institutions and bonding companies, and elicit cooperation for economic opportunities for certified business enterprises;(8) Make recommendations related to agency and third-party contracting and procurement activities to increase participation by certified business enterprises;(9) Review the annual reports of agencies and make appropriate recommendations pursuant to the goals and objectives of this subchapter;(10) Make recommendations to the Commissioner of Property and Procurement and coordinate program activities with the contracting activities of the Department; and(11) Take such other actions as are necessary or appropriate to carry out the purposes of the subchapter.
(1) Maintain, grow, and advocate on behalf of certified business enterprises in the following areas:(A) Certified business enterprises with less than $10,000.000 in annual revenue;(B) Under separate criteria, certified business enterprises with over $10,000,000 in annual revenue; and(C) All certified business enterprises that desire to participate in contracting opportunities with any government corporation.
(A) Certified business enterprises with less than $10,000.000 in annual revenue;
(B) Under separate criteria, certified business enterprises with over $10,000,000 in annual revenue; and
(C) All certified business enterprises that desire to participate in contracting opportunities with any government corporation.
(2) Maintain and provide public access to a list of all current government contracting and procurement bids and solicitations;
(3) Maintain and provide public access to a list of other current government contracting and procurement bids and solicitations, including those of the federal government;
(4) Monitor and prepare recommendations to the Commissioner of Property and Procurement to ensure agency achievement of the goals set forth in this subchapter;
(5) Educate the public, including residents and businesses, about the Territory’s programs for certified business enterprises;
(6) Stimulate and foster greater opportunities for certified business enterprises to participate in the Government’s contracting and procurement process and provide recommendations to the Commissioner of Property and Procurement and the Governor on ways to increase the participation;
(7) Maintain contacts with the business community, including financial institutions and bonding companies, and elicit cooperation for economic opportunities for certified business enterprises;
(8) Make recommendations related to agency and third-party contracting and procurement activities to increase participation by certified business enterprises;
(9) Review the annual reports of agencies and make appropriate recommendations pursuant to the goals and objectives of this subchapter;
(10) Make recommendations to the Commissioner of Property and Procurement and coordinate program activities with the contracting activities of the Department; and
(11) Take such other actions as are necessary or appropriate to carry out the purposes of the subchapter.
(e) To achieve the goals set forth in this subchapter, the Director shall establish by regulations issued pursuant to 3 V.I.C., chapter 35 programs for certified business enterprises. The Executive Director shall include among these programs:(1) A Small and Local Disadvantaged Business Enterprises Eligibility Certification Program;(2) A bid preference mechanism for local and disadvantaged business enterprises, resident-owned businesses, resident businesses, and local business enterprises with principal offices located in an enterprise zone; and(3) A set-aside program for small business enterprises.
(1) A Small and Local Disadvantaged Business Enterprises Eligibility Certification Program;
(2) A bid preference mechanism for local and disadvantaged business enterprises, resident-owned businesses, resident businesses, and local business enterprises with principal offices located in an enterprise zone; and
(3) A set-aside program for small business enterprises.