Businesses Offered $2,500 Tax Incentive To Train Students

ST. CROIX, USVI — A new law will offer local businesses an annual tax credit of up to $2,500 for partnering with the Department of Education to provide hands-on training to students. The program is part of a larger effort to build out the Career & Technical Education (CTE) programs at Virgin Islands Department of Education (VIDE) high schools. The law takes effect this September.

Under the law, Act No. 8374, students enrolled in CTE classes at the Territory’s public high schools can be paired with a professional business mentor in the student’s chosen career path. Any business that participates in the program will receive “a non-refundable Gross Receipts tax credit in the amount of $500 for each student who completes the training program.”

In order for a business to be eligible to receive the tax credit, it must receive documentation from the Department of Education confirming its participation and the number of students the business has trained.

The law excludes companies that are EDC beneficiaries, stating “EDC beneficiaries who partner with the Department of Education to train students may not benefit from the tax credit.” Rather, students that are trained at a business receiving Economic Development Commission benefits must be counted toward the beneficiary’s education assistance.

“The office of the assistant commissioner and the state office of career, technical and adult education are excited to share this information with the public and businesses wishing to partner with us,” Assistant Commissioner Victor Somme III said. “The opportunities for CTE students to put theory into practice is important and impactful to students, schools and the larger community. It is our hope that the legislation will increase and retain partnerships, which will in turn increase benefits to our students. Everyone wins with this legislation.”

Are you interested in being a student mentor? Contact Dr. Tanya Lockhart, assistant director of the State Office of Career, Technical and Adult Education, at (340) 772-3153 or email tanya.lockhart@vide.vi.