Invest PR locked down $58M in committed investments, 3,500 jobs in ‘20
December 18, 2020
Invest Puerto Rico (InvestPR) provided an overview of its achievements in 2020, which included secured new business commitments including 3,500 new jobs, $58 million in capital investment, and an average payroll of $51,000 per job. During a virtual presentation, the island’s official investment promotion organization shared the results presented in its annual report, detailing the […]
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Parallel18 marks 5th anniversary as it releases its 2020 Impact Report
December 18, 2020
The Parallel18 startup acceleration program is marking its fifth anniversary with a rundown of its achievements so far, which include receiving 4,340 applications, graduating 211 companies of which 35% are from Puerto Rico and seeking 85% of them survive despite trying economic times. During a presentation, Parallel18 officials said $1.3 million were distributed in grants […]
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Puerto Rican menswear retailer Clubman launches online store
December 18, 2020
Puerto Rican men’s clothing retailer Clubman unveiled its new hybrid concept that includes a virtual store and a new pick-up service at its flagship store in Santurce. The online store, which entailed a $25,000 investment to set up, features all of Clubman’s collections, from casual to formal. Shoppers can choose to pick-up their purchases at […]
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CESCO Digital app has 1M users, shored up $38.4M for gov’t
December 18, 2020
The Puerto Rico Department of Transportation and Public Works’ CESCO Digital app has already garnered one million users and has collected more than $38.4 million for the government through a number of possible transactions, Puerto Rico Innovation and Technology Services director Glorimar Ripoll-Balet said. The implementation of this the mobile app, which is part of […]
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FIDECOOP joins Causa Local in spreading access to capital
December 18, 2020
Causa Local and the Cooperative Development and Investment Fund (FIDECOOP, in Spanish) announced an alliance in which FIDECOOP will recommend and endorse businesses they identify as eligible to apply for micro-loans of up to $15,000 at 0% interest from the kiva.org crowd-lending platform. FIDECOOP, a financing fund for businesses organized under the cooperative model, joins […]
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3 new hotels with $25M in combined investments planned for San Juan islet
December 17, 2020
Three new hotels — Hotel Tetuán 100, Puerto Valdes, and Plaza Colón Hotel & Suites — representing a combined $25 million in investments are underway in the San Juan islet, which will add 88 new rooms to Puerto Rico’s inventory. During a news conference, Puerto Rico Tourism Co. Executive Director Carla Campos said the new […]
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Puerto Rico residents have until Friday to claim $1,200 incentive
December 17, 2020
Individuals residing in Puerto Rico during the year 2019 or 2020 have until Friday to request the $1,200 economic incentive approved by the federal government earlier this year to mitigate the effects of COVID-19, Treasury Department Secretary Francisco Parés-Alicea said. “We urge citizens who have not completed the CARES Act financial aid application to do […]
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MCS Foundation fundraiser pursuing $1M for elderly population
December 17, 2020
The MCS Foundation recently launched its “A call for our people in need” fundraising campaign through which it hopes to raise $500,000, which it will match dollar-for-dollar, up to $1 million, to help Puerto Rico’s most vulnerable communities and the elderly, the nonprofit announced. This is the fourth fundraising campaign. “According to official Census data, […]
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Wovenware named IDC Innovator for Artificial Intelligence services
December 17, 2020
Wovenware, a nearshore provider of Artificial Intelligence (AI) and digital transformation solutions, announced it has been named an IDC Innovator, described as emerging vendors with revenue of less than $100 million, that have demonstrated either a groundbreaking business model or an innovative new technology — or both. Wovenware was one of only four providers recognized […]
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SBA’s Economic Injury Disaster Loan window closes Dec. 31
December 17, 2020
Small businesses and nonprofits adversely affected by the COVID-19 pandemic are encouraged to consider applying for the U.S. Small Business Administration’s COVID-19 Economic Injury Disaster Loan (EIDL) during the month of December. Applications must be submitted via SBA’s online application link no later than Dec. 31, 2020 to be considered, the agency said. A total […]
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USDA opens call to establish revolving loan programs
December 17, 2020
The U.S. Department of Agriculture announced it is seeking applications for funding to establish revolving loan programs to support rural businesses and community development projects. Subject to the availability of funds, the loans will be established through USDA’s Intermediary Relending Program. Eligible recipients include nonprofits, cooperatives and public agencies. “The Intermediary Relending Program provides loans […]
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$12M Palacio Provincial Hotel to open in Old San Juan this month
December 16, 2020
The emblematic structure in front of the Plaza de Armas in Old San Juan, which originally housed the Provincial Council of Spain in Puerto Rico, will open its doors as a historic hotel later this month. The property underwent a $12 million renovation to house 43 rooms, an open-air restaurant, event hall, a library, and […]
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PepsiCo Puerto Rico exploring exporting locally-made products to So. Florida market
December 16, 2020
PepsiCo, which has been manufacturing popular snacks — Doritos, Tostitos and Cheetos — out of its Barceloneta plant since 1982, is evaluating expanding its reach into South Florida, by exporting its “Mofongo Mix” product line into a market with a solid Puerto Rican presence. In an interview with this media outlet, company General Manager Alejandro […]
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La Marqueta gastronomic space reopens in Condado
December 16, 2020
La Marqueta, an oceanfront gastronomic space in Condado is reopening its doors, to again showcase its culinary offerings and two bars, while complying with security and distancing protocols in the face of the pandemic. “La Marqueta is a unique take on the immensely popular food market movement. Its oceanfront location, in the heart of Condado […]
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L’Oréal’s ‘For Women in Science’ program awards 1st Puerto Rican scientist
December 16, 2020
L’Oréal USA announced the recipients of its 2020 “For Women in Science” fellowship, including the first Puerto Rican to be awarded, Nancy Padilla-Coreano. The annual program awards five female postdoctoral scientists grants of $60,000 each to advance their research. Now in its 17th year, the applications the “For Women in Science” 2021 program have started, […]
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