Caguas Mayor William E. Miranda-Torres announced the start of construction of the Business Disaster Response and Recovery Center, a $3.8 million project that will be developed in the town’s urban center.
The project includes the expansion of the Inova business incubator, said Miranda-Torres, who chairs the organization’s board.
“Today we’re breaking ground on what soon, in less than 18 months, will go from being an idea to a reality for everyone’s benefit,” said Miranda-Torres.
“In the event of a natural or man-made catastrophe, if a business recovers quickly and continues to carry out its operations, we all benefit, since its customers — citizens — who have the need for their services, can also recover faster, employees will not suffer a loss of salary and will be able to better resist, on their own merits, the consequences of the emergency, and finally, the government, by having to attend to fewer people, will be able to dedicate more resources to provide immediate help to the most needy,” he said.
The investment is broken down into $3.508 million from the U.S. Economic Development Administration and $347,000 related to the value of the building and land belonging to Caguas.
The Business Disaster Response and Recovery Center will generate between 50 and 75 jobs in its construction phase and 324 jobs during the first three years of operations. It is expected that the center will receive $660,000 in private-sector contributions. The facility will benefit 12 towns belonging to the INTECO cluster, namely, Caguas, Comerío, Aguas Buenas, Cayey, Cidra, Gurabo, Humacao, Juncos, Las Piedras, Naguabo, San Lorenzo and Yabucoa.
El Business Disaster Response and Recovery Center will have space available for prevention and mitigation, preparation, response and co-working/recovery to accommodate 40 to 60 existing intellectual capital businesses in those towns, during and immediately after a catastrophe.
The Inova business incubator will be located at the Center’s second floor, Miranda-Torres said.