The Department of Economic Development and Commerce (DDEC, in Spanish) has revoked 121 tax incentive decrees to Act 22 (now Act 60) beneficiaries who failed to submit annual reports to the agency, as the law required. Carlos Fontán, director of the DDEC’s office of business incentives in Puerto Rico, said in April, the agency began […]
Invest Puerto Rico (InvestPR), the island’s economic development organization, announced the launch of a new brand, a redesigned website and the new “Game-Changers, Welcome Home” campaign, an $4.7 million effort to “elevate the island as a business destination.” The media investment comes from an allocation of funds under the Department of Housing’s CDBG-DR program “dedicated […]
Puerto Rico’s New Year’s Eve countdown at the Convention Center District is expected to draw as many as 10,000 revelers, who will be required to be fully vaccinated against COVID-19 to participate, government officials said. In a press conference, Gov. Pedro Pierluisi and Convention Center District Authority Executive Director Mariela Vallines, said the “From Puerto […]
Following a year and a half at his post as Puerto Rico Labor Secretary, Carlos Rivera is stepping down for personal reasons effective Dec. 31, he confirmed in an interview with News is my Business. “I’ll be honest when I say that I had to manage an emergency and I wasn’t going to turn my […]
The Puerto Rico Labor Department will implement a new virtual platform for the island’s unemployment program — a $22 million project for which it has hired the firm Geographic Solution to work in collaboration with the Puerto Rico Innovation and Technology Services (PRITS) office. The new platform will be developed in phases and will be […]
The Condado Plaza Hilton will get back into the casino business, with the projected opening of a new 15,000 square-foot gaming space that will house 300 slot machines and dozens of gaming tables. The Condado Plaza Hilton, which shuttered its casino in 2015, got its endorsement from the Puerto Rico Gaming Commission, putting it one […]
In the high-tech world, security and privacy go hand in hand. If a device stores personal information, privacy depends on the gadget’s ability to keep secrets safe from intruders. In that sense, some of the playthings we give our kids as Christmas or birthday gifts may be spying on us. So, which toys should we […]
The Northwestern Puerto Rico Bio Manufacturing Cluster, led by the Department of Economic Development and Commerce (DDEC, in Spanish), is in the running for $100 million in funds available through the US Economic Development Administration’s “Build Back Better Regional Challenge.” The federal agency confirmed that 60 finalists have been short-listed for the program that has […]
San Juan Mayor Miguel Romero unveiled a lofty agenda to develop and revitalize the city’s infrastructure, investing $210 million over the next 36 months. The works will be developed through grants obtained from the Federal Transit Administration, the Federal Emergency Management Agency (FEMA), CDBG-DR funds under the City Revitalization program, as well as local funds, […]
The Puerto Rico Labor Department announced the transfer of 19 mobile kiosks to the same number of municipalities in Puerto Rico’s southern, eastern, and western flanks to boost self-employment and economic activity, agency Secretary Carlos Rivera confirmed. The “Pa’ mi Gente” program was created in 2010 and ran through December 2016 under the Labor Department. […]
The Puerto Rican banking industry has continued to strengthen over the past year, supported by an increase in liquidity and the strengthening of asset quality. The Financial Stability Index for Commercial Banks in Puerto Rico, prepared by Estudios Técnicos, Inc., increased to 0.60 in the third quarter of 2021, compared to 0.47 in the same […]
The video series “Sounds like Puerto Rico” received three nods during the 45th Annual Suncoast Regional Emmy Awards, held over the weekend. The videos produced by Discover Puerto Rico, the island’s Destination Marketing Organization (DMO), were distinguished as best magazine series, cinematography, and editing. “Sounds like Puerto Rico” was nominated in five categories, including best […]
National housing and urban renewal developer, McCormack Baron Salazar, and the Puerto Rico Department of Housing welcomed a group of leaders, including the Governor of Puerto Rico, community members, and the media to the grand opening of the new mixed-income apartment community, Emerald Vista. With an investment of about $135 million and the first multifamily […]
Restaurants in the Distrito T-Mobile have curated a series of dining experiences as part of the Dick Clark’s New Year’s Rockin’ Eve with Ryan Seacrest 2022 celebration in Puerto Rico. This year, Puerto Rico becomes the first destination with a Spanish-language countdown for the festivities that will feature Daddy Yankee as the main act and […]
P18, the international acceleration program of parallel18, culminated its ninth generation with the celebration of the achievements of 33 companies in its DemoDay event at the Raúl Juliá theater at the Puerto Rico Museum of Art. Following more than 20 months of virtual events, the program from the Puerto Rico Science, Technology, and Research Trust […]
The Federal Emergency Management Agency (FEMA) allocated more than $7.2 million to the Puerto Rico Aqueduct and Sewer Authority (PRASA) for repairs to wastewater treatment and water pumping facilities in Humacao and Las Piedras. These projects ensure critical services for more than 55,000 residents of Humacao, Las Piedras and Naguabo, the agency stated. The funds […]
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