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November 08, 2004
EDC can be fixed, former U.S. attorney Nissman says
Interesting story - I am always curious when guys switch teams likes this:
By TIM FIELDS
Saturday, November 6th 2004
ST. THOMAS - It is not too late to repair the Economic Development Commission tax benefits program, former U.S. attorney David Nissman said Friday night as he outlined a plan of action to the V.I. Republican Party's St. Thomas-St. John-Water Island branch.
"While the Virgin Islands government presents its own series of problems, it is clear that without the EDC tax revenues it will collapse," Nissman said. "Facing huge deficits and no internal spending controls the withdrawal of this new tax base would leave it in a precarious position."
Nissman, who investigated abuses of the tax-incentive program before he retired from his federal post in August, now is the chief executive officer of Bridge Capital LLC, a company located in Frederiksted that receives EDC tax benefits.
Posted by afinta at November 8, 2004 12:41 PM
