Puerto Rico Trade and Export and the Puerto Rico Techno Economic Corridor signed a partnership agreement Wednesday to boost the commercial development and job creation along the island’s western flank.
The initiative will be spurred through the development of various initiatives and providing access to more services to strengthen and encourage companies to make inroads into foreign markets, PR Trade Executive Director Francisco Chévere and PRTEC Executive Director Nelson Perea said during a joint press conference.
“This partnership represents a unique opportunity in which both entities are combined to provide more and better opportunities for small and mid-sized enterprises in the western area of Puerto Rico to achieve the development of local capital in various business sectors,” said Chévere, adding that this agreement is part of his agency’s pilot commercial development plan for the western region as provided by a legislative Joint Resolution.
PRTEC is a nonprofit economic development organization serving the western region, and whose main mission is to promote innovation and the development of new businesses through its various initiatives and projects.
“To this end, we saw in the Techno Economic Corridor as a natural ally to help us promote entrepreneurship in the western region. Puerto Rico Trade, beyond being the agency designated to execute special agreements for job creation under the Jobs Act now, also has the mission of professionalizing customer service to diversify Puerto Rico’s economic base through the promotion and development of businesses, so they are competitive locally and internationally,” Chévere noted.
The agreement between the two entities stipulates that PRTEC will be part of several market research projects aimed at achieving sustainable economic development. In addition, the agency’s Business Development Center of the West in Mayagüez will function as a single management center for entrepreneurs that PRTEC caters to. Participants interested in establishing their businesses, as well as entrepreneurs in general will particiapte in Puerto Rico Trade’s network of services.
“We are pleased to have the opportunity to renew and strengthen our partnerships with Puerto Rico Trade and Export. PRTEC has been promoting business development for more than 10 years, and in particular, technological development in the western region,” said Perea. “PRTEC is a pioneer in the field of business incubation on the island. With this new partnership we leverage our experience and extensive ecosystem with the agency’s new programs and incentives to further boost business development in our region.”
As part of the agreement, Puerto Rico Trade employees will channel the needs of each corporate client to ensure they are addressed according to their objectives. Through the agency’s centers, companies can access information related to incentives under the Jobs Now Act, financial consulting, training, rental properties, fairs and trade missions, among other opportunities available.