(a) Any business granted benefits under this subchapter shall agree in writing to employ and to require all contractors retained by the business to employ persons who are residents of the Virgin Islands.
(b) Any business granted benefits pursuant to this subchapter shall require all contractors retained by the business to agree to contract for services with, and purchase goods, materials and supplies from those persons who are residents of the Virgin Islands and those entities that are incorporated or registered under the laws of the Virgin Islands, and who are duly licensed to do business in the Virgin Islands and have been so duly licensed for at least one year prior to the initial date of any such purchase, contract, or subcontract, provided that the bid of such resident or entity does not exceed the bid of any nonresident person or entity by more than fifteen percent (15%). Each Commercial Zone business and all contractors and subcontractors of such business shall invite competitive bidding for all services, goods, and materials pursuant to the publication requirements of title 31 Virgin Islands Code, chapter 23, section 236 and must apprise each bidder in writing of the name of the successful bidder and the amount of his bid within thirty (3) days after awarding the bid.