RTPark Moving From Strength to Strength; Lawmakers Pleased With Budget Hearing Presentation

After 21 years, RTPark is on solid footing when it comes to serving as an economic engine for the territory, according to CEO Peter Chapman when he came before the 35th Legislature’s Committee on Budget, Finance and Appropriations last Thursday.  While RTPark neither requests nor receives an annual appropriation from the Legislature, Mr. Chapman pointed to this testimony as a progress update to lawmakers. He touted a projected $250 million increase in revenue since 2017, and the elimination of a $4 million debt. RTPark’s financial success will result in a boon to the University of the Virgin Islands (UVI), which it supports, with UVI on track to receive over $2.7 million from RTPark this year. “This success is directly attributed to our implementation of a more aggressive and comprehensive economic development programming model,” Mr. Chapman noted. RTPark's growth led to its recognition as a best-in-class economic development organization by the International Economic Development Coun...