Estudios Técnicos: Reconstruction funds to drive 4.2% economic growth in ’20
February 11, 2019
The release of $1.5 billion in post-Hurricane María CDBG-DR reconstruction funds will spur a positive momentum in Puerto Rico’s economy, which should grow by 4.2 percent in fiscal year 2020, and will remain positive until 2022, according to new estimates by Estudios Técnicos Inc. “This week the [U.S.] Department of Housing announced the release of […]
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Resident Commissioner presents ‘Offshore Wind for Territories Act’
February 11, 2019
Resident Commissioner Jenniffer González-Colón introduced H.R. 1014, known as the “Offshore Wind for Territories Act,” a bipartisan legislation that would amend federal law to study the potential for offshore wind energy development in the U.S. exclusive economic zone adjacent to Puerto Rico and the rest of the U.S. territories. Over the past few years, […]
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Ford Motor Co. named global sustainability leader In water, climate change efforts
February 11, 2019
Ford Motor Company received an “A” grade for its water security efforts from CDP, the environmental impact nonprofit that drives sustainable economies. This marks the fourth year in a row Ford has earned an A from CDP for its water management efforts, the company said. Ford is one of fewer than 30 companies globally to be […]
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AGC-PR swears-in Abrams as new president for ’19
February 11, 2019
The Puerto Rico Chapter of the Association of General Contractors of America (AGC-PR) recently swore in Alejandro J. Abrams as its president for 2019. In his inaugural message the civil engineer emphasized the importance of strengthening relationships between the private construction sector and federal and Puerto Rico government agencies in charge of managing and administering […]
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$35.5M mixed-income housing complex, Renaissance Square, opens in San Juan
February 8, 2019
National affordable housing developer, McCormack Baron Salazar, Inc., and the Puerto Rico Department of Housing, have officially opened Renaissance Square, a new mixed-income apartment community located in Hato Rey. A public/private partnership between the Department of Housing, McCormack Baron Salazar, Citi Community Development, and Hunt Capital Partners, the project used public dollars to leverage private […]
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Gov’t sends out another $39.4M to employers that retained workers post-hurricanes
February 8, 2019
The government sent out another $39.4 million to 1,294 employers who requested Employee Retention Tax Credit program after the impact of Hurricanes Irma and María last year. Gov. Ricardo Rosselló said the new allocation pushes the total amount paid out to $414.4 million from June 2018 to 16,676 employers who retained 415,921 employees after the […]
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Mastercard opens new offices in P.R., Jamaica; Boosting operations in DomRep
February 8, 2019
As part of its strategic plan to evolve and develop its Caribbean structure, Mastercard announced changes that will strengthen its presence on the islands, including expanding their offices in the Dominican Republic and opening new offices in Puerto Rico and Jamaica. This growth will promote greater agility and efficiency when providing service to clients and […]
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Oracle seeks Puerto Rican students to participate in new internship program
February 8, 2019
Powered by a multidisciplinary group of current Oracle employees who had the opportunity to participate in previous editions of their internship and trainee programs, the software company is looking to recruit new participants, it announced. The internship program, called Generation Oracle, seeks to guide and train a generation of professionals for the future. The registration […]
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Gov’t commissions feasibility study for commercial spaceport in Roosevelt Roads
February 7, 2019
The Puerto Rico government has signed a collaborative agreement with Florida-based RS&H Inc. to conduct a feasibility study to establish a commercial spaceport at the José Aponte de la Torre Airport, in the former Roosevelt Roads naval base in Ceiba. The study will cost $75,000 and should be ready by June 30, 2019. “We believe […]
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FedEx Express opens new ramp at Luis Muñoz Marin International Airport
February 7, 2019
FedEx Express, a subsidiary of transportation company FedEx Corp., officially inaugurated its new state-of-the-art ramp operation located at the Luis Muñoz Marin International Airport in Carolina. The opening of the new facility is part of the company’s plan to increase its operational efficiency and meet its growing customer demands. While the investment was no revealed, […]
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Sacred Heart Univ. launches program to develop creative industries in Santurce
February 7, 2019
Sacred Heart University, through its “Our Neighborhood: Cultural District of Santurce” program, has opened a call for creative companies established in the Santurce area interested in developing their project. The initiative, called the CEPA for its initials in Spanish, seeks to recruit 10 to 12 companies committed to their neighborhood, that need support to give […]
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Rosselló meets with HUD officials for rebuilding efforts status talks
February 7, 2019
Housing and Urban Development Secretary Ben Carson met with Puerto Rico Gov. Ricardo Rosselló at HUD Headquarters in Washington, D.C. on Wednesday to discuss the status of Puerto Rico’s rebuilding efforts following the 2017 hurricanes. During the 30-minute meeting, Carson was joined by Acting Deputy Secretary Brian Montgomery, who oversees the disaster recovery program at […]
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So. Fla. resident convicted of $100M fraud scheme that toppled Westernbank
February 6, 2019
A Key Biscayne, Florida resident was found guilty by a federal jury for his role in a $100 million scheme to defraud Westernbank of Puerto Rico. The losses triggered a series of events leading to Westernbank’s insolvency and ultimate collapse in 2010. Jack Kachkar, 55, was convicted of eight counts of wire fraud affecting a […]
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Buena Vibra Group, Capital DBG collaborate on initiatives in P.R./DR
February 6, 2019
Creative companies Buena Vibra Group and Capital DBG announced the signing of a collaboration agreement that seeks to expand the resources and tools that each agency has for strengthen the conversation between Puerto Rico and the Dominican Republic. Both agencies, denominated as non-traditional, have an innovation focus that is based on cultural and social entrepreneurship. […]
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Truenorth Corp., TimeXtender partner to offer Discovery Hub service in Caribbean
February 6, 2019
Truenorth Corporation, a full-service business and technology solutions provider, has announced a new partnership with TimeXtender, a recognized global software company that enables instant access to any type of data in the organization to support advanced analytics and artificial intelligence. This agreement allows Truenorth Corporation to offer Discovery Hub by TimeXtender to its existing and […]
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