Synergi Partners, company focused on matters of tax incentives and hiring credits, announced the opening of a new office in San Juan, where it has been actively involved in supporting the island’s post-hurricane economic recovery.
The move will help Synergi Partners’ Puerto Rico branch increase its involvement in hurricane relief efforts and work closer with businesses affected by Hurricane María last year that qualify for the local Hurricane Employee Retention Benefit.
“We are positively thrilled to establish our office in Puerto Rico,” Synergi Partners CEO Jim Brown said. “We currently have five account executives and plans are in motion to grow to 20 over the next few months.”
“The welcome we received from local businesses has been truly fantastic, and we are excited to continue our mission of assisting employers, small and large, with [the Treasury Department’s] hurricane relief program,” he added.
The Hurricane Employee Retention Benefit was established earlier this year by the Puerto Rico Treasury Department and approved by the U.S. Secretary of Treasury, with the goal of helping businesses with recovery efforts and rewarding them for retaining local employees. Synergi Partners has been working closely with agencies involved to define the program’s requirements and implementation, as this media outlet reported.
Under the program, businesses that qualify for the benefit can receive up to $1,920 per eligible employee. Leveraging its experience as an administrator of government business assistance programs and a tax credit services firm, Synergi Partners can assist local businesses in applying for Employee Retention funds all throughout the process, from hurricane impact assessment to application and benefit payment receipt.