The U.S. Environmental Protection Agency announced a settlement between the United States and To Go Stores, LLC., that will resolve alleged violations of federal environmental laws at 15 gas stations in Puerto Rico. The company will pay a $125,000 civil penalty as part of the agreement. Underground storage tanks owned and/or operated by To Go […]
About 275 public housing complexes representing more than 4,600 facilities and structures that suffered damage due to Hurricane María will be rebuilt with an obligation approved by the Federal Emergency Management Agency (FEMA). The federal share of more than $554 million to the Puerto Rico Public Housing Administration is in addition to another $109 million […]
Given the labor shortage caused by the coronavirus pandemic, Aerostar Puerto Rico, together with the businesses established at the Luis Muñoz Marín International Airport, will hold a job fair Feb. 1-2, seeking to recruit more than 450 new employees. The hiring event will take place on the second level of Terminal D, near the airport […]
The next edition of the World Travel & Tourism Council’s Sustainability and Investment Forum will take place in San Juan June 14, gathering world leaders in the field to analyze the challenges facing the sector. At a press conference in Spain, during the International Tourism Fair in Madrid (FITUR 2022) Puerto Rico Tourism Co. and […]
The USDA Rural Development allocated nearly $392 million to Puerto Rico in 2021 “to help ensure that rural residents and businesses have equitable access to housing, health care, economic development, and other essential services,” agency Under Secretary Xochitl Torres-Small announced. The funding came during the first year of the Biden-Harris administration. Luis R. García, acting […]
El Portal de El Yunque has reopened nearly five years after Hurricane María destroyed it, following an $18.1 million investment by the US Department of Agriculture Forest Service. The recovery project has “a new focus on collaborative management with non-governmental organizations and broader community integration,” the agency stated. The project, which took 30 months to […]
The recent number of projects that the Federal Emergency Management Agency (FEMA) has obligated to the government of Puerto Rico has exceeded 9,100, representing more than $25.9 billion in federal funds for the island’s recovery after Hurricane María, the agency stated. Hundreds of projects have already been completed while others are in the bidding and […]
SPONSORED POST Popular announced today the launch of a new digital platform where small business owners can apply for loans and lines of credit in an agile and convenient way. The platform includes an innovative, secure system designed so that customers can manage and check the status of their application online at any time, simplifying […]
The confirmation of Puerto Rico’s debt restructuring plan is one of several positive circumstances that is positioning the island for an economic rebound in coming years, but which will require unity between the public and private sectors. José Rafael Fernández, CEO of OFG Bancorp, said Puerto Rico’s economy is already in a “very different situation” […]
The US Army Corps of Engineers has assigned some $230 million for improvements to the Caño Martín Peña, the San Juan Bay, and the Culebrinas River, as part of the Biden Administration’s Infrastructure Act. Of that amount, $163 million will go to restore the Caño Martín Peña and the nearby areas of the San Juan […]
The Puerto Rico Tourism Co. estimates that the economic impact resulting from the agreements reached during the International Tourism Fair (FITUR, in Spanish) event in Madrid, Spain will surpass $10 million through the potential alliances created. As part of the objectives set for this year, Tourism, together with Discover Puerto Rico and the Puerto Rican […]
After more than five years, the US District Court for the District of Puerto Rico approved a Plan of Adjustment that reduces the commonwealth’s debt by 80% and saves Puerto Rico more than $50 billion in debt service payments. Among other matters, the plan orders modifying some $33 billion in central government obligations. In a […]
In mid-2021, McKenzie & Associates surveyed hundreds of C-suite level Puerto Rican business leaders for its “2022 Puerto Rico Market Sentiment Report,” confirming mostly optimism for their operations this year. A sample of 135 leaders grouped into nine industry classifications provided responses to the survey. Of those 123, or 91%, believe their sales will grow […]
It was not exactly music to their ears for many show business entrepreneurs at the end of the last century. The initial attack that collapsed the traditional song distribution industry came from Netscape in 1999. Then it was Apple’s iTunes, followed by Spotify, and now its cryptocurrency creeping into the $65 billion music business worldwide. […]
The Puerto Rico Economic Development Bank doubled the number of loans approved for small and mid-sized businesses in 2021, when compared to 2019, agency President Luis Alemañy said, adding that in doing so, “the public corporation has become one of the main sources of aid and financing” for that segment known as SMEs. Offering a […]
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