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About St. Lucia
Advantages of Locating in St. Lucia
-
Politically Stable work-force
- English speaking
- Solid public education system
- Duty free import of materials
- Duty free import of equipment
- Tax concessions up to 15 years
- Currency pegged to U.S. dollar
- Duty free entry into CARICOM
- Duty free entry into the U.S. *
* For specified products under the Caribbean Basin Initiative (CBI)
St. Lucia Profile
St. Lucia became independent from the United Kingdom in 1979. The English speaking country has a parliamentary government with British representation in the form of a governor general. The island is located in the Windward Islands of the Caribbean, 21 miles south of Martinique and 26 miles north of St. Vincent. The topography is mountainous and the climate is tropical, with an average temperature of 82 degrees Fahrenheit. Hurricanes are a rare occurrence due to the westward location. The population of 150,000 has a 91% literacy rate due to a quality public school system.
The work force is extremely stable due to both high unemployment, cultural preference and a strong work ethic. Only six percent of the population is employed in manufacturing, which is viewed as superior and sought after employment. Labor laws are similar to the U.S. in terms of hours, holidays and severance. Manufacturing salaries for hourly workers are about $1.50 per hour. While this labor rate is higher than that of some low cost centers such as Asia, the overall cost of operation is lower due to overhead costs such as shipping.
St. Lucia has two multifunctional seaports capable of accommodating container cargo ships in Castries and in Vieux Fort. There are also two international airports, both of which can handle jet traffic. Several industrial
free zones provide duty free import and export of materials for value-add manufacturing. Products can be shipped to Europe with a much lower duty than when shipping from the U.S. Internet and telephone services are both provided by Cable and Wireless (WI) Ltd, At&T and
Digicel.
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