UVI RTPark Welcomes Four New Companies into Its Program and to the USVI Tech Community

Published Tuesday, March 12, 2019

UVI RTPark Welcomes Four New Companies into Its Program and to the USVI Tech Community

ST. CROIX - The University of the Virgin Islands Research and Technology (RTPark) Board of Directors announced the approval of four new companies which have entered the organization’s program after review at recent executive committees in December and most recently on Wednesday, February 27, 2019.

The new four UVI RTPark clients include Buck Island Partners, LLC, Royall Media Worldwide, LLC, Island Holdings, LLC, and Columba Energy, LLC. Buck Island Partners and Royall Media Wordlwide are both based on the island of St. Croix, while the latter are headquartered on the island of St. Thomas. Royall Media Worldwide was approved during the board’s February session, while the other three were approved during their meeting December 12, 2018.

Brief Company Profiles

Buck Island Partners, LLC is a team of experts with experience in strategy, technology and business process reengineer that help entrepreneurial companies make infrastructure changes that better position the company for continued growth. They focus on small to medium size companies who are growing rapidly. Typically, these companies are built on “extraordinary effort” by a small number of founders and initial team members. Small teams of people working countless hours and wearing many hats puts pressure on team members and the organization that eventually results in growth stagnation and/or team member turnover. Buck Island Partners brings expertise in strategy, technology and business process reengineering with startup experience to identify, deploy and fully leverage technologies/IT systems that facilitate continued growth for our clients.

Royall Media Worldwide, LLC is a digital marketing, ecommerce, community events and software development-focused firm which services business both locally and globally. The company, through its subsidiaries, has received market recognition from working with well-known promotion companies such as Eventbrite, as well as some of the largest festivals around the country.

Island Holdings, LLC is loan servicing and portfolio management company with a focus on marketing, data and analysis and technology development that enables clients to evaluate risk and maximize return on investment. Additionally, they utilize industry leading-technology and expertise to manage, develop and improve their parent company’s sophisticated management software platform to monitor and service client loans.

Columba Energy, LLC specializes in providing knowledge-based, technology-driven advisory services, primarily in energy commodities across natural gas, electricity, and the fast growing-renewable sector. Their platform can identify imbalances in the flow of energy and resulting inefficiencies from the anticipated changes in electric demand and fuel apportionment across multiple channels, sectors, and jurisdictions. They seek to help fill in the gaps of inefficiencies across the energy supply chain from production to consumption with their technologies.

Chairman of the RTPark board, Edward Thomas, was pleased that the program is continuing to attract new businesses to the Territory, thus enhancing economic growth.

‘Apart from creating employment opportunities for Virgin Islanders, these companies contribute significant scholarship dollars as well as internship opportunities for UVI students,” Chairman Thomas said. “Research has shown that the individual investors spend extensively in real estate and other business transactions here. Most importantly, those who become bona fide residents are required, under current income tax laws, to pay taxes on their worldwide income to the Government of the Virgin Islands, thus increasing the tax base.” 

The RTPark, a rapidly growing economic development program concentrating on attracting technology and knowledge-based businesses to the U.S. Virgin Islands, has assumed a more targeted sector focus. RTPark Executive Director Peter Chapman noted that these most recent business attraction and expansion wins, as well as the organization’s pipeline of pending new clients, are consistent with the RTPark’s new strategic framework approved by the board of directors in October 2018. 

“Not only do we continue to pursue IT and telecommunications firms but recognizing that the USVI has competitive advantages that lend themselves to securing high-growth businesses in other clusters, we are presently also aggressively focused on enterprises specializing in financial technology (FINTECH), sustainability solutions (including renewable energy), and healthcare and life sciences technologies,” Chapman said. “This well-defined cluster strategy will also serve our community well as we seek to attract businesses that can enhance and improve the quality of life for all Virgin Islanders.”

Client Testimonials

Our firm, The RainTree Group, came into the UVI RT Park program in 2018.  We didn't have much experience in the USVI and followed the advice of the wonderful RT Park staff and other RT Park tenants.  The application process was transparent and straightforward.   The simple concept of the Park is mutual benefit - your company gets some tax incentives that allows you to grow your business more quickly and the USVI and UVI gets additional tax base, employment opportunities, and scholarships for deserving students.  The business environment and life in the USVI is slower paces and less stressful as the mainland, and without question the biggest business hurdle is communications, so find an office location where you have investigated the broadband options. Come and join us, you won't regret it!

James Salter, VosCom dba The RainTree Group

In January 2012 my business was underway as a Tech Park entity. It has been a wonderful seven years. The Tech Park has always been supportive, easy to do business with, and is making a positive impact on the islands. The Tech Park organization is professional and efficient. They have created a friendly business environment that has been a pleasure to work within and a great experience overall. I would encourage any eligible entity to consider joining us in the Tech Park.

Louise Stapleton, LNL Publishing

We have been part of the RT-Park program for almost three years now.  The application process was straight forward and we had plenty of dialogue and feedback prior to our approval.  My only regret is we didn’t do this sooner.  It is satisfying  knowing that we are partners with UVI and enabling the education of the next generation .  We also love living in the USVI.  People are warm and welcoming and the pace of life is amazing healthy.  Most days it feels like a working vacation.

Andy Hemmert, President , HRMT, LLC

There are many unique treasures to living here. I’ve discovered a passion for mountain biking. My children have learned to sail. With a small community, you get to know people quickly. We found they went out of their way to make us feel welcome. When considering the move, a top concern was the children’s education. We found a quality school our kids love, with a dedicated faculty. In fairness there is an adjustment period. You learn to navigate island life, master shipping logistics, get to know a new culture, and take in some of the most beautiful ocean views in the world.

David Thompson, Exigo