Business

USDA Loans Local Firm $4.1 Million to Purchase and Renovate Concordia Eco-Resort on St. John

U.S. Department of Agriculture Secretary Tom Vilsack announced Tuesday that the USDA has provided a $4.1 million loan to AW Concordia Holdings LLC to purchase St.John-based Concordia Eco-Resort located in Coral Bay Quarter. The USDA said the investment will help create new and better market opportunities and expand essential services for rural people, businesses and entrepreneurs in the Virgin Islands. “Rural America is critically important to our entire nation’s economy. When the people in rural America succeed, we all succeed,” said USDA Rural Development State Director Lakeisha Hood. “The investments we’re announcing today demonstrate how USDA remains committed to helping rural businesses create new and better market opportunities.” The resort, which will build on Concordia Eco-Resort’s past reputation as a nature haven, will offer guests an escape from city life and an opportunity to relax and reconnect through an immersive stay on the island’s tropical habitat – positioning it t...