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15 industrial development projects worth $248.3M in pipeline

Economic Development and Commerce Secretary José Pérez-Riera (Credit: © Mauricio Pascual)

Fifteen companies made the commitment last month to invest $248.3 million in machinery and equipment, and create 1,369 jobs in the next 18 to 36 months, Economic Development and Commerce Secretary José Pérez-Riera said Wednesday.

The list of companies includes pharmaceuticals, medical devices, plastics and packaging, among others, he said.

These projects join industrial promotion recorded for January and February, which when added to the March results total 48 companies with a commitment to create 3,579 jobs and an investment in machinery and equipment of $434 million.

“The investment recorded in March signals a rebound in industrial promotion indicators and underline the prominent role of the biosciences industry in our economy,” said Pérez-Riera, revealing that Johnson & Johnson is part of the promotions recorded in March, as well as Pfizer Pharmaceuticals, which will invest about $60 million in its plant in Guayama, with a commitment to create 678 jobs to manufacture pharmaceutical products.

He also mentioned other projects, namely Alco High Tech Plastics in Corozal, which is investing $1.8 million and creating 50 jobs to manufacture plastic bags and BB Acquisition in Mayagüez, which will be investing $2.6 million in its operations.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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