Event Details
Recent (at time of writing)
Description
The assets of the closed Hovensa refinery were sold at auction.
Participants (2)
| Name | Type | Mentions | |
|---|---|---|---|
| unnamed buyers | person | 0 | View Entity |
| NSA | organization | 1098 | View Entity |
Source Documents (1)
HOUSE_OVERSIGHT_018830.jpg
This document is an economic analysis of the U.S. Virgin Islands, dated sometime after September 2015. It concludes that the territory's economic recovery is slow, especially on St. Croix due to the closure of the Hovensa refinery. While tourism is resurgent on St. Thomas and St. John and some development projects are underway, the overall forecast is for only gradual economic improvement.
Related Events
Events with shared participants
Closure of the Hovensa oil refinery.
2012-01-01 • St. Croix
Closure of the Hovensa oil refinery in St. Croix, cited as a likely cause for a downturn in GDP.
2012-01-01 • St. Croix
The Hovensa Refinery in St. Croix closed.
Date unknown • St. Croix
Closure of the Hovensa oil and gas refinery, which impacted the territory's unemployment rate.
2012-01-01 • U.S. Virgin Islands
Closing of the Hovensa refinery, which impacted the St. Croix housing market.
Date unknown • St. Croix
The permanent shutdown of the Hovensa refinery was announced, causing an economic downturn and leaving 1,158 workers unemployed.
2012-01-18 • US Virgin Islands
The Hovensa refinery was announced to be permanently shut down, leading to job losses and an economic downturn.
2012-01-18 • US Virgin Islands
An auction of Hovensa's assets was held, with assets awarded to Limetree Bay Holdings.
Date unknown • New York City
Sale of Hovensa refinery assets at auction.
Date unknown • St. Croix
Construction of an asphalt plant on the former Hovensa refinery property, projected to create 80 jobs.
Date unknown • St. Croix
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