February 21, 2020
Liberty P.R. reports $412M in revenue in FY19, a 23% year-over-year jump
February 21, 2020
Gov’t unveils plans for $300M thermal ocean energy project
February 21, 2020
Locast plans to stream local TV channels across P.R. free over internet
February 21, 2020
Economic development experts launch Tax Incentives Association
February 20, 2020
U.S. Dept. of Transportation paves way to ease P.R.’s air cargo, passenger restrictions
ECONOMY
Economic development experts launch Tax Incentives Association
A team of economic development experts from Puerto Rico announced the launch of the Tax Incentives Association (TIA), a nonprofit association created to educate, investigate, analyze economic results and serve as promoters of Puerto Rico’s economic development through the attraction of new and diverse investments into the island. TIA’s vision is to “have Puerto Rico’s tax incentives as the cornerstone of the island’s offer for incentive attraction and the engine of its economic recovery,” the organization said. During its inaugural conference at Piloto 151’s Old San Juan
TOURISM
AUTO
Pep Boys expands P.R. footprint after parent co. buys Tecnicentros Mundial
Icahn Automotive, an Icahn Enterprises L.P. company, which owns and operates Pep Boys, has completed its acquisition of Tecnicentros Mundial, a six-location automotive service chain in Puerto Rico.
Sojitz de P.R. building $4M dealership in Plaza Las Américas to launch Genesis
Sojitz de Puerto Rico, parent company in charge of its distribution in Puerto Rico, announced the launch of its luxury car brand Genesis. The introduction to the local market is coupled with the
P.R.’s new car sales drop 1.2% Y-O-Y in ’19, with 106,606 sold
Puerto Rico’s new car sales took a slight hit in 2019, when 106,606 units were sold, representing a 1.2% year-over-year drop when compared to the 107,941 vehicles sold in 2018, the United Automobil
ENVIRONMENT
The Department of Economic Development and Commerce unveiled a master plan to develop the $300 million Puerto Rico Ocean Technology Complex, or PROtech, to generate thermal ocean energy. Agency Secretary Manuel Laboy also unveiled plans to seek new energy sources through other eco-friendly developments and scientific research along Puerto Rico’s southeast area. “This project is extremely important and innovative. After several studies on feasibility, economic and environmental impact, we managed to prepare the master plan for PROtech, which will be developed in the municipality of Yabucoa, but will have a positive effe
