Our Economy
Opinion Article by Michael Springer Jr.
Sometimes the solutions to complex problems can start with simple steps and resources that are right in front of us.
Our economy, like many others, is in poor condition right now. The cost of living in the territories rivals major mainland urban areas. Basics like food and energy are stretching household budgets to the limit and businesses are struggling to pay their bills as well.
No one will argue that the future financial stability of the territories rests in steady economic development. This is particularly critical for St. Croix, which, unlike our sister island of St. Thomas, has not built a baseline economy on tourism.
I think the beginning of our solution is an expansion of the way we’ve always approached the idea of economic development. It’s more than just bringing new business into the islands. To be most effective, development must combine financial incentives for business with developmental opportunities for our local workforce
Think about it. We have a major refinery and a global financial services company already in operation. Over the next three years, we will see the construction of a multi-million dollar facility that will house the Diageo rum operation.
And while these businesses are or have the potential to be viable contributors to the overall economy – how many positions in all of these businesses are or will be filled by individuals from outside of the islands? How much of the available opportunity, now and in the future, will really benefit the local community workforce?
Businesses exist for many reasons, and one of those is to make money. Production depends on having a well qualified work force. If that talent is not available locally, businesses import it. And herein lies the problem.
We need to focus on future development with companies that make a commitment to assisting in the development of the local workforce as part of their business strategy. It should be part of any future negotiations and should be an ongoing discussion with existing businesses who are major employers in the area.
The most direct line to this outcome is a collaboration between businesses, relevant government agencies and the educational system, including UVI, to develop joint training and development programs that reach students prior to graduation and prepare them for the opportunities that existing business already have and that new business will bring.
These programs could begin as early as high school and could include things as simple as informational sessions on the types of job opportunities available to make students aware of what opportunities exist and how they should prepare. Educational and business leaders should collaborate on programs that provide skill based training and summer employment opportunities that would result in a skilled population upon graduation from high school or college.
Outside of the educational system, governmental agencies that impact the workforce and its development must play a key role. Standards are already in place that place requirements on certain businesses to employ a specific percentage of their available positions to local candidates. A renewed emphasis on enforcement of these requirements will also help assure that the positions that should be filled locally are in fact filled with our residents. Businesses that receive funding and incentives should be closely monitored to assure that these requirements are met.
Additionally, development should be thoughtful and well-planned to serve the economic, cultural and environmental needs of St. Croix . Eco-tourism (tourism that is built to showcase and preserve the ecology and natural resources/beauty of the island) and historical tourism are areas that are ripe for development.
We must focus our attention on building a future workforce that will be prepared to meet the needs of businesses that are or may want to locate here. The benefits for the long-term stability of our island, and the quality of life for our residents, will be beyond measure. We have the responsibility and the resources to make this happen, and there’s no better time to start than right now.
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Well, well , well mr. springer looks like all those years in 9th grade really paid off. how many times were u detained? well none the less, looks like anyone feels they can run our government now. however i would like to know what is it u plan to do for our community? so far i haven’t heard yet or maybe i haven’t been able to sift through the mounding pile of BS. is it the $85,000 salary, maybe you have aspirations of being senate president and amass $95,000 or is it the fancy green trailblazer. by now Mosler should have given you enough $ to buy your own don’t u think? it takes more than just political trash talk be a senator. but then again u just may bring a different view point to the senate floor. instead of 2 minute recesses for the reporters we will have 5 minute “blunt” breaks so that u can concentrate and focus on the task at hand. so mr. springer do you think you are up to the challenge? first i think if u get in u should adopt an Elementary or Junior high school and donate 50% of your salary to that school, that would be a show of good sportsmanship, after all your not in it for the money right??? secondly what would u do to help stop crime??? would u rat on your oldtime buddies??? or would u employ them to get them off the streets? better still would u continue to eat macdonald’s and subway or will u begin to have more class & taste, seeing that you are having wine & cheese tastings and all, i see mosler is training u well. so whats next on your agenda mr. springer???