USVI governor finalizes deal with Cruzan Rum

CHARLOTTE AMALIE, U.S. Virgin Islands

The governor of the U.S. Virgin Islands has signed into a law a 30-year revenue deal with the owners of locally produced Cruzan Rum, which has a heritage on St. Croix dating to the 18th century.

Gov. John DeJongh signed the economic development pact Thursday. The partnership with Cruzan was approved by the legislature Oct. 27.

Under the 30-year deal, the islands' government will continue a decades-old practice of sharing the cost of molasses, a critical ingredient in rum production.

It will also continue to invest a portion of tax revenues generated from rum to promote local brands and provide financing for construction of a wastewater plant to boost capacity at Cruzan's St. Croix distillery.