Entrepreneurship becomes a way of life in Puerto Rico
September 22, 2021
If the past decade has shown anything is that Puerto Ricans look adversity in the eye and say, “bring it on!” An economic downturn that has lasted longer than that, the back-to-back hurricanes in 2017, the earthquakes that rocked the south, and the COVID-19 pandemic have hit hard, but residents of this island have found […]
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Cooking with My Doctor builds on local success to expand abroad
September 22, 2021
Puerto Rican cooking seasonings brand Cooking with my Doctor, in business since 2018, is building on the success of its product line in the local market to export to the first three US mainland states, where it will begin its growth beyond the island’s shores. In an interview with News is my Business, Renzo Casillo, […]
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Production of ‘The Plane’ film shores up $136M for Puerto Rico economy
September 21, 2021
“The Plane,” the latest Hollywood feature film to be produced entirely on the island, will generate some $136 million for the local economy, including hotel stays, withholding tax payments and other investments, government and the movie’s staff confirmed. Filming began about four months ago and has moved to different locations in and outside the San […]
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Canadian energy firm gets $21M order to build ‘net-zero’ homes in Puerto Rico
September 21, 2021
EnerDynamic Hybrid Technologies Corp., a Canadian company that does business in Puerto Rico, announced it has received an order for 141 storm- and earthquake-resistant homes in Arroyo, Carolina, and Vega Baja, representing $21 million in revenue. The so-called “net-zero” homes average about $150,000 and are developed with “virtually indestructible building materials powered by its ultra-light […]
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US Economic Dev’t Admin. grants $16M to EcoExploratorio project
September 17, 2021
The US Economic Development Administration is awarding a $16 million grant to Ecoexploratorio, Inc., San Juan, Puerto Rico, to construct a disaster preparedness, recovery education, and training center and ensure continuity of operations during natural disasters. The EDA grant will be matched with $4 million in local investment, said US Secretary of Commerce Gina M. […]
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Execs moving up at Triple-S, Telecinco, Paradores, Foundation for PR, Merck
September 16, 2021
This edition of Climbing the Corporate Ladder includes new appointments and re-shufflings at the top positions of a cross-section of industries in Puerto Rico. Expanded responsibilities for Triple-S Management senior leadershipRoberto García- Rodríguez, CEO of Triple-S Management, announced organizational changes in the senior leadership team to support the company’s integrated health care strategy. “During 2021, […]
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SBA’s Guzman announces 2 new Women’s Business Centers in Puerto Rico
September 14, 2021
U.S. Small Business Administration Administrator Isabella Guzman announced the launch of two Women’s Business Centers (WBC) in Puerto Rico, at the Ana G. Méndez University in Gurabo and Friends of Puerto Rico. Guzman — who kicked off National Small Business Week, which runs Sept. 13-15, during her first visit to Puerto Rico — confirmed the […]
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Tourism execs: Puerto Rico needs to pump millions into infrastructure to compete
September 14, 2021
Puerto Rico has all of the attributes needed to compete with the most popular tourist destinations in the world, but it needs to make significant investments to attractions islandwide and its capital city of San Juan, tourism executives agreed during a panel discussion at the San Juan Economic Forum. “Tourism is based on experiences and […]
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Retaining, luring back talent ‘key’ to making Puerto Rico ideal tech destination
September 14, 2021
Puerto Rico has a “significant need” to retain its existing human talent and to find ways to lure back those who have left, to guarantee its place among the world’s ideal innovation and technological destinations, several private-sector representatives who are either entrepreneurs or help those who are up-and-coming, agreed. During a panel discussion on the […]
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$70M Puerto Rico Film District project dead 3 yrs. after unveiling
September 13, 2021
Three years after the much-touted $70 million Puerto Rico Film District project in Miramar was announced in 2018, the pre-development agreement between the government and British businessman Keith St. Clair has been terminated, meaning the end of the venture, News is my Business has learned. Puerto Rico Convention District Authority Executive Director Mariela Vallines confirmed […]
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Chick-fil-A confirms opening of 2nd restaurant in Bayamón in ’22
September 13, 2021
A second Chick-fil-A restaurant will open in the new Los Filtros shopping center in Bayamón. News is my Business confirmed it will open in 2022. “It’s our pleasure to confirm we will be opening two new Chick-fil-A restaurants in Bayamón in 2022. Each restaurant opening brings 75 to 100 part-time and full-time jobs to the local […]
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USDA investing $537K in 11 renewable energy projects in Puerto Rico
September 10, 2021
The US Department of Agriculture will invest $537,363 in 11 renewable energy infrastructure projects in Puerto Rico, through one loan and 10 grants, to help rural communities, agricultural producers and businesses lower energy costs. The allocation to Puerto Rico is part of a global $464 million funding round that the agency announced for operations in […]
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Puerto Rico to host 13 conventions thru ’22, with $51M impact
September 9, 2021
The Puerto Rico Convention Center is set to host 13 meetings from November 2021 through October 2022 that are expected to draw about 23,000 attendees who will generate more than 58,000 room nights, representing a $51 million injection for the local economy. Jorge Pérez, regional manager for ASM Global, which manages the venue, said 2022 […]
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Passenger traffic up 14.8% at Luis Muñoz Marín Int.’l Airport last month, vs. Aug. ’19
September 8, 2021
Total passenger traffic using the Luis Muñoz Marín International Airport (LMM) facility in San Juan showed a 14.8% increase in August, versus the same month in 2019, prior to the negative effects that the COVID-19 pandemic had on air traffic. Grupo Aeroportuario del Sureste, parent company of Aerostar — which operates the LMM — reported […]
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Marina Puerto Del Rey sold to Texas-based Safe Harbor Marinas
September 2, 2021
Marina Puerto del Rey, the largest marina in the Caribbean, has been sold to Texas-based Safe Harbor Marinas in a transaction that closed on Sept. 1, the buyer announced. The financial terms of the deal were undisclosed. “We are very excited to welcome Puerto Del Rey to Safe Harbor,” said Jason Hogg, chief investment officer […]
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