Gov’t unveils $34M Diego Village multifamily housing complex in Río Piedras
July 27, 2020
Puerto Rico and federal government officials unveiled plans for the De Diego Village, a $34 million affordable and multifamily housing complex to be located in the Río Piedras urban center that will include a commercial area to promote the revitalization of the once active area of San Juan. The investment includes $18.1 million in Community […]
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Puerto Rican startup ZERO Damage to start shipping ready-to-assemble gazebos
July 27, 2020
Puerto Rican startup ZERO Damage announced it will begin shipping ready-to-assemble flat pack building kits for two types of outdoor gazebos and a greenhouse starting in August. The kits are the result of two years of research and development of an unwelded connection system that allows people to install steel frames without requiring screws. Next […]
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Popular Inc. reports net income of $127.6M in 2Q20
July 24, 2020
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $127.6 million for the quarter ended June 30, 2020, a 25% drop from the $171.1 million on record for the same quarter in 2019, but a significant jump from the $34.3 million reported for the first quarter of the year. For […]
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Statistics Institute urges Puerto Rico mayors to encourage filling out Census 2020
July 23, 2020
The Chairman of the Puerto Rico Institute of Statistics’ board, Economist Nicolás Muñoz, He urged all mayors to mobilize the resources of municipal agencies to visit houses street by street, combing through all communities to alert families to the importance of filling out the 2020 Population Census form. This while taking all the prevention and […]
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Puerto Rico’s water, power utilities to offer services via appointment
July 20, 2020
The Puerto Rico Aqueduct and Sewer Authority (PRASA) and the Puerto Rico Electric Power Authority (PREPA) announced separately over the weekend that they will begin offering expanded customer service alternatives, including scheduling appointments prior to visiting an office. PRASA Executive President Doriel Pagán-Crespo said that effective today, customers will be able to get virtual appointments […]
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Isla Frio Refrigeration Corp. investing $6M to develop former PepsiCo plant in Cidra
July 17, 2020
Puerto Rican firm Isla Frio Refrigeration Corp. announced its acquisition of the former PepsiCo plant in the town of Cidra, which it will split into several areas for different services. In all, the firm invested $3 million in the property that closed down after Hurricane María pummeled the island in 2017. The property did not […]
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O’Reilly Auto Parts opening 1st store in Puerto Rico
July 13, 2020
Missouri-based auto parts retailer O’Reilly Auto Parts is opening its first store in Puerto Rico, on Route 2 in Hatillo, this media outlet learned. The store is in close proximity to two other auto parts stores that it would be competing against: Pep Boys and Advance Auto Parts. News is my Business reached out to […]
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Entrepreneurs to open 15 Mr. Jeff laundry service locations in Puerto Rico
July 10, 2020
A group of Puerto Rican entrepreneurs announced the arrival to the island of Mr. Jeff, a home delivery laundry service franchise originated in Spain, with the first four of 15 planned locations already open for business. The Spanish startup currently has a presence in more than 27 countries around the world with more than 2,000 […]
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10 Puerto Rico co.’s secure SBA-backed PPP loans of between $5M-$10M
July 9, 2020
The U.S. Small Business Administration revealed it has guaranteed nearly 2,000 loans for between $150,000 and $10 million through its Payroll Protection Program in Puerto Rico, totaling a little more than $1 billion as of June 30. These loans are added to the nearly 36,000 SBA-backed loans of less than $150,000, which represent another $741.4 […]
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25 film projects worth $148M in investments set to roll in Puerto Rico
July 9, 2020
Twenty-five romance, comedy and action films representing $148 million in investments are slated to roll in Puerto Rico beginning in the second half of this year, Department of Economic Development and Commerce Secretary Manuel Laboy confirmed. The productions are backed by the agency’s Film Industry Development Program. “This second semester of the year has a […]
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Puerto Rican startup turns to unconventional data to gauge economic effect of COVID-19
July 8, 2020
Given the lack of up-to-date data for Puerto Rico’s economic activity, local startup Abexus Analytics has turned to unconventional data sources to gauge the performance of the economy during the COVID-19 crisis. The findings are included in a report titled “The Economy is not reserved for Economists,” which takes a technical tour of the issues […]
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Puerto Rico drivers given extra time to renew expired licenses, IDs
July 8, 2020
The Department of Transportation and Public Works announced the signing of an order to extend the validity of Puerto Rico driver’s licenses and identifications that expired during this year, in a phased manner. Transportation Secretary Carlos M. Contreras said approving Resolution 2020-15 gives island residents holding expired licenses “enough time to get their appointment and […]
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SBA backs $741M+ in PPP loans of up to $150K in Puerto Rico
July 7, 2020
The U.S. Small Business Administration and the U.S. Department of Treasury released Paycheck Protection Program Loan data that revealed that since the start of the program in April, local banks have processed some 35,896 loans for up to $150,000 totaling $741.4 million so far. The detailed loan-level data for Puerto Rico shows that more than […]
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Puerto Rico’s next back-to-school tax holiday slated for July 31-Aug. 1
July 7, 2020
The next back-to-school tax-free holiday is slated for July 21 to Aug. 1, The Puerto Rico Treasury Department announced in a circular letter published on its website. That is the first of two such events scheduled for Fiscal 2021, when specific items will be exempt from the island’s 11.5% sales tax. Another tax-free holiday is […]
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AT&T launches 5G on its wireless network across 58 Puerto Rico towns
June 29, 2020
Wireless carrier AT&T confirmed the launch of 5G technology on its network in Puerto Rico, where it is already covering 58 towns, company executives said. Customers will have access to the faster service in San Juan, Aguadilla, Aibonito, Arecibo, Mayagüez, Ponce and Rincón. Another 18 towns will go live this week, while Vieques and Culebra […]
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