RT Park Laments Business Exits, Power Instability, and Fallout From Public Statements as Five New Companies Join Program

Despite onboarding five new clients and expanding STEM partnerships, RT Park ED Eric Sonnier says exits driven by healthcare limits and power instability—as well as damaging Senate remarks—have led to missed investments and a company relocating to PR.

Though the USVI’s Research and Technology Park continues to make steady strides in attracting businesses to set up headquarters in the territory, challenges outside of the Park’s control are causing some companies to rethink their choice, according to testimony from RT Park’s new executive director, Eric Sonnier.

On Monday, Sonnier appeared before the Committee on Economic Development and Agriculture to provide an update on all things relevant to the Park. He spoke enthusiastically about progress in attracting businesses, STEM and STEAM programs in the territory’s elementary schools, and even stronger partnerships with the University of the Virgin Islands. Nonetheless, he did not hesitate to inform lawmakers that since the fiscal year started, at least one company had formally exited the Park, and two more are in the process of doing so.

“These exits were driven by a need to relocate due to family obligations, frequent power outages and medical circumstances that involve treatments that cannot be performed within our local healthcare system,” explained Mr. Sonnier. “These transitions reflect the human realities that occasionally influence participation in our program.”

Senator Hubert Frederick, the committee’s chair, was disheartened. He bemoaned the unstable power situation, noting that it is “hard to run a sustainable business, a profitable business if you don't have reliable energy.”