SERVICE
Custom Software
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Hosting
ROLE
Digital Transformation
Driving Economic Growth in the U.S. Virgin Islands
The Economic Development Authority (EDA) is a semi-autonomous government agency tasked with promoting and enhancing economic development across the U.S. Virgin Islands. A key component is the Economic Development Commission (EDC), which offers attractive tax incentive programs to qualified businesses.
The Challenge
The EDC’s mission is to grow, diversify, and strengthen the USVI economy by stimulating business investment, job creation, and capital formation. However, their manual, paper-based application process for tax incentive programs was hindering efficiency and accessibility for both applicants and reviewers. They needed a modern software solution to digitally transform this critical function and make sure applicants can easily view and submit any and all requirements after being approved for benefits.
Our Approach
The CrucianPoint team worked hand-in-hand with the EDC to deeply understand their processes and requirements.
We developed innovative solutions that were adaptable for multiple scenarios.
Our Key Tactics Included
- User-friendly online application portal with smart program-specific fields
- Automated fee calculation based on the unique parameters of each incentive
- Secure online payment integration to streamline the fee collection process
- Robust user management with role-based authentication and permissions
- Centralized data management with reporting capabilities for greater insights
- Flexible and scalable architecture to accommodate the EDC's evolving needs
Close collaboration and iteration were core to our approach throughout this project’s lifecycle.
The Outcome
The custom EDC software has radically modernized their tax incentive application process:
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75% reduction in application processing times for the EDC
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20% increase in completed applications year-over-year
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Dramatic cost savings from eliminating paper and manual handling
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Improved data integrity and compliance through robust security controls
The Impact
“This software has been transformative for promoting business growth and economic development across the territory. Both applicants and reviewers now have a vastly improved experience.”
By digitizing and streamlining the tax incentive process, the EDC can more effectively focus on its core mission – creating jobs, diversifying industries, and driving sustainable economic expansion in the U.S. Virgin Islands.
This solution serves as a pivotal tool for change and a foundation for ongoing innovation and efficiency improvements in the Virgin Islands.
Conclusion
Through our close partnership and innovative custom software, we have empowered the EDA’s Economic Development Commission to revolutionize how businesses access their tax incentive program. This digital transformation supports the EDC’s vital role as a catalyst for economic prosperity across the U.S. Virgin Islands.
