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The Economy
St. Croix was once an agricultural powerhouse in the Caribbean,
but like many other Caribbean islands today, St. Croix has tourism
as one of its main sources of revenue. A number of other industries
on the island contribute to the economy, which provides a strong
back drop to the redevelopment of the Mall of St Croix.
Until 2012, St. Croix was home one of the world’s largest oil
refineries. On January 18, 2012, the refinery permanently shut
down. This had a major adverse effect on the economy of St. Croix
and the entire U.S. Virgin Islands, as the refinery employed 1,200
residents and 950 contractors.
Today the facility has reopened under Lime Tree Bay Terminals,
as a major international intermodal transshipment port for
petroleum and petroleum products. This has returned almost 800
permeate jobs to the island with an expected in flux of over 800
contract employees. The government of the Virgin Islands retained
the right to produce refined products at the facility and in the
coming days will announce a partnership with an international
refining company to reopen the facility and employ up to an
additional 700 permeant workers. The island is also home to
Captain Morgan’s and Cruzan Rum.
*Demographics Total
Total Population 65,501
Total Households 20,165
Median Household Income 41,042
Median Age 37
*2010 Census with local updated estimates.
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