The U.S. Virgin Islands is seeking federal approval to establish 18 Opportunity Zones across St. Croix, St. Thomas and St. John as the territory looks to attract additional private investment.

The proposed zones would cover 18 census tracts and could provide qualifying investors with federal tax advantages designed to encourage investment in designated communities.

The initiative could create new opportunities for real estate development, small businesses, infrastructure projects and other private-sector investments in communities included in the programme.

For the USVI business community, the proposed expansion is being watched as a potential tool for bringing additional investment capital into the territory while supporting development in targeted areas.

The request comes as the Virgin Islands continues efforts to strengthen its economic base and attract private-sector activity across St. Croix, St. Thomas and St. John.

If approved, the Opportunity Zone framework could give investors another incentive to consider projects in the U.S. Virgin Islands, potentially increasing the flow of private capital into eligible communities.