St. Croix Is Looking to Become a Caribbean Capital Markets Hub
A new partnership between 5 STAR BDM and SEDI-CASE aims to position St. Croix as the capital markets hub of the Caribbean, in a bid to boost regional trade, expand access to capital, and drive inclusive economic growth.
US Virgin ISlands Governor Albert Bryan Jr., Grant McGaugh, CEO of 5 STAR BDM, and Anthony Weeks, President and CEO of SEDI-CASE, formally launched the initiative this week, outlining plans to develop St. Croix into a financial gateway connecting U.S. and Caribbean markets.
“5 STAR BDM is building more than a platform—we’re building a movement. St. Croix will be the epicenter of a new economic era that finally puts minority-led businesses at the forefront of capital, commerce, and global relevance,” McGaugh said.
The initiative seeks to address long-standing barriers for small and medium-sized enterprises (SMEs), which make up 95 percent of businesses in the Caribbean and contribute approximately 40 percent of regional GDP, yet struggle with limited export capacity and access to financing.
“This is an exciting day for the U.S. Virgin Islands as we embrace a future filled with promise and opportunity,” said USVI Governor Albert Bryan Jr. “Today’s announcement represents a collaborative effort to unlock the economic potential of our region, to create a more connected and prosperous Caribbean, and to position the U.S. Virgin Islands as a leading hub for trade, commerce, and innovation.”
Key components of the effort include new trade finance frameworks, cross-sector partnerships, and infrastructure designed to help minority-led businesses scale. The platform is being developed with support from stakeholders in South Florida, the New York Tri-state area, New England, and the Washington, D.C. corridor.
“St. Croix is America’s best-kept secret in the Caribbean—a U.S. National Heritage Area ready to lead not only in tourism, but in global trade, remote work, and investment,” Weeks said. “This initiative invites the world to rediscover St. Croix as a strategic gateway for both leisure and serious business.”
The partnership comes amid rising tourism activity in St. Croix, where cruise passenger arrivals are projected to reach 275,000 in fiscal year 2025, up from fewer than 60,000 just a few years ago. With the Caribbean’s combined GDP estimated at over $150 billion, the territory is positioning itself as a competitive player in regional economic integration.
“Caribbean’s SMEs are the backbone of the region’s economy, but they’ve been systematically shut out of global opportunity,” McGaugh said. “5 STAR BDM is building more than a platform—we’re building a movement. St. Croix will be the epicenter of a new economic era that finally puts minority-led businesses at the forefront of capital, commerce, and global relevance.”
Weeks saod that the effort is focused on execution and long-term viability. “We’re focused on building a durable ecosystem that unlocks long-term opportunity,” he said. “This is about removing friction for entrepreneurs who’ve been boxed out for too long—and making St. Croix a beacon of inclusive economic mobility.”
