Rosselló signs Opportunity Zones Development Act
May 14, 2019
Gov. Ricardo Rosselló signed into law today Senate Bill 1147, which establishes the regulatory framework for the development of Opportunity Zones in compliance with the Federal Tax Reform of 2017. The Opportunity Zones created under federal law provide tax benefits to low-income communities in order to achieve their economic development. Puerto Rico, as well as […]
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An Airbnb boutique hotel: Opportunity Zones arrive in Old San Juan
May 14, 2019
By Joel Cintrón ArbasettiCenter for Investigative Journalism The walk is led by Adrian Beales, an Australian sales director for Lifeafar, a company that offers real estate investment options for people from abroad. Behind him is a group of 20 investors. They left El Convento hotel on Cristo Street in Old San Juan after the second […]
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Caribbean Produce Exchange formalizes agricultural trade plan between P.R./NY
May 14, 2019
Consumer and fresh products distributor Caribbean Produce Exchange Inc. announced the visit of New York State Agriculture Secretary Richard Ball to evaluate growth opportunities and validate the strategic alliance agreed between the company and the Government of New York agreed to in 2017. The strategy seeks to achieve an increase in the commercial agricultural trade […]
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Comfort Inn & Suites Levittown invests $600K to upgrade hotel property
May 14, 2019
The owners of the Comfort Inn & Suites Levittown announced the investment of more than $600,000 to remodel the beachfront hotel from top to bottom, including rooms and exterior amenities. Milly Díaz, manager of the 60-room hotel, said the renovation will be done in phases, with a completion date of December 2019. After Hurricane Maria, […]
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DDB Latina Puerto Rico named among ‘Top 10 Agencies to Watch’
May 14, 2019
DDB Latina Puerto Rico, part of the DDB Worldwide conglomerate that has more than 200 offices in 95 countries around the world, was named among the “Top 10 Agencies to Watch” during its most recent global conference in Miami, the agency announced. DDB Latina Puerto Rico was accompanied by colleagues from cities like Chicago, Sydney […]
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P.R.’s Fiscal ’18 GDP hits $5.7b, or -4.7% vs. Fiscal ’17
May 13, 2019
The Puerto Rico Planning Board released macroeconomic data closing out the island’s Fiscal 2018, showing that the Gross Domestic Product (GDP) at constant prices totaled $5.7 billion or -4.7%, compared to Fiscal 2017. At current prices it was $6.8 billion or 2.8 percent, for the same comparison, Planning Board President María C. Gordillo said. “These […]
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P.R.’s small inns launch discount card for summer high-season
May 13, 2019
The Puerto Rico Small Inns Owners Association and the Puerto Rico Tourism Co. announced the launch of the “Visit Paradores Card,” targeting local tourists who flock to local hotels during the peak summer season that begins with the Memorial Day holiday. “This year, we have a better tourism product. After María, we collectively invested more […]
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USDA to host P.R. opioid awareness roundtable on May 15
May 13, 2019
The U.S. Department of Agriculture’s Rural Development program is sponsoring a roundtable to raise awareness on the opioid crisis in Puerto Rico, on May 15 from 11 a.m. to 1 p.m. At the table will be representatives from the University of Puerto Rico Medical Science Campus, Drug Enforcement Agency, The Institute of Research Education and […]
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Estudios Técnicos Inc.’s post-Hurricane María study to be featured in Canada
May 10, 2019
The methodology developed by Estudios Técnicos Inc. and the Kaiser Family Foundation for a study on the socioeconomic impact of Hurricane María in Puerto Rico will be featured in a panel during the convention of the American Association for Public Opinion Research, one of the most important research associations in the United States and Canada. […]
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U.S. Dept. of Transportation allocates $29M for airport repairs
May 10, 2019
The U.S. Department of Transportation has approved $29.1 million for rehabilitation work at airports in Aguadilla and Luis Munoz Marin, from the supplemental funding measure of fiscal year 2018. “The infrastructure of our airports is of vital importance to us as an island, especially to allow mobility of the population and commerce,” said Resident Commissioner […]
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Crowley LNG P.R. offers seminar to first response officials about LNG as energy source
May 10, 2019
Puerto Rico’s energy system transitioning to one dependent solely on renewable sources — with much support on it being liquified natural gas (LNG) — has been topic of interest post-Hurricane María. As a response, Crowley LNG Puerto Rico recently held a seminar for emergency response officers to raise awareness about liquefied natural gas as a […]
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FirstMortgage offers seminar to members of Caguas Board of Realtors
May 10, 2019
FirstMortgage has recently joined the Caguas Board of Realtors to offer its members the “En ruta al conocimiento” (“Road to knowledge”) seminar, featuring an overview of the products and benefits of HUD properties, tips on how to avoid setbacks at the closings of these properties, and a discussion of new procedures in compliance with E-Sign. […]
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Romark Global Pharma opens $80M manufacturing plant in Manatí
May 9, 2019
Romark Global Pharma, a global biopharmaceutical dedicated to the discovery and development of new drugs to treat infectious diseases and cancer, officially opened its new $80 million manufacturing plant in Manatí. Flanked by Gov. Rosselló administration officials, Romark CEO Marc Ayers said, “with this expansion Romark will manufacture its products Alinia and NT-300, a new […]
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U.S. Dept. of Labor conducting wage survey of P.R., USVI construction projects
May 9, 2019
The U. S. Department of Labor’s Wage and Hour Division (WHD) is conducting a survey of all building, highway, residential, and heavy construction projects active in the U.S. Virgin Islands and Puerto Rico that occurred between July 1, 2017, and Dec. 31, 2018, it announced. The purpose to establish prevailing wage rates as required under […]
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FEMA OKs some $21M in additional post-María recovery grants to P.R.
May 9, 2019
The Federal Emergency Management Agency has awarded about $21 million in additional funds to Puerto Rico to cover costs related to Hurricane María, the agency announced. These awards bring the amount of funds obligated under FEMA’s Public Assistance program to $5.7 billion, it added. The latest grants approved are as follows: Nearly $17.8 million to […]
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