The Puerto Rico government announced the start of work to rebuild and develop the new Bahía Urbana through an agreement with the Convention District Authority, and a private investment of $118 million that will create more than 180 jobs during its construction and 250 once it is in operation. For this project, Las Brisas Property […]
The Center for a New Economy (CNE) will hold its annual conference, the Growth Policy Summit 2021, when it will address Puerto Rico’s economic growth from different perspectives with the input of leaders in education, philanthropy, fiscal affairs, and economics. The Growth Policy Summit will be held Dec. 3 at the Sheraton Hotel in the […]
Direct Relief, with the support of pharmaceutical company AbbVie, awarded a $1.9 million grant to nonprofit organization Por los Nuestros — dedicated to providing renewable energy solutions, advocacy for communities and public health — to install renewable energy systems in 25 rural aqueducts in communities without drinking water service. The Anones Maya rural community aqueduct […]
Puerto Rico’s private-sector employers have until Nov. 30 to file a Christmas bonus payment exemption request for 2021, Labor Secretary Carlos J. Rivera-Santiago announced. So far, the agency has received 30 requests for exemption from payment of the Christmas Bonus, of which 21 were accepted, six were accepted at 15%, one was denied and two […]
As part of its 25th anniversary events, Grupo Guayacán joined Para la Naturaleza to protect and preserve Puerto Rico’s natural resources. Through this collaboration and, in honor of its name and the years it has served entrepreneurs in Puerto Rico, Grupo Guayacán planted 25 guayacán trees in La Parguera Nature Reserve in Lajas. And, to […]
The Vitrina Solidaria nonprofit organization, together with 22 entrepreneurs, has launched a campaign based on six key values for a more solid and supportive economy that should break poverty traps faced by business people out of need, so they can reach new markets and benefit communities. These ventures usually come from people in communities of […]
The Puerto Rico Culinary Events Conglomerate announced the acquisition of the production rights of several popular culinary events on the island in recent years from Imagenda, a company that is part of CGV Creative Group. The financial terms of the deal were undisclosed. This group of entrepreneurs will now produce several well-known festivals such as […]
As a result of a series of roundtables headed by the Central Office of Recovery, Reconstruction and Resiliency (COR3), its Executive Director Manuel Laboy signed two collaborative agreements with the medical devices and tourism sectors to provide data that allow the development of strategic marketing plans that promote investment in the island. “The reconstruction process […]
This year’s Thanksgiving meal will be more expensive, with an average increase of 14% for US mainland consumers, a survey by the American Farm Bureau Federation showed. The cost of many of the holiday’s staples — the turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, and dessert — have jumped, pushing the cost of […]
Puerto Rico’s Economic Activity Index (EAI) for September 2021 reached a maximum level of 120.3 points, representing a year-on-year increase of 2.7%, according to the Puerto Rico Economic Development Bank’s Center for Economic Studies. “This is the seventh year-on-year increase after 12 consecutive reductions. If compared to the previous month, the EDB-EAI’s growth rate rose […]
As cybercriminals become more audacious, a small business must counter the new danger by paying more attention to the different types of cyberattacks that bring loss and frustration to any entrepreneur. Cyberattacks have gone up in Latin America by 24%, since last year, as compared with 2020, according to the Kaspersky digital security platform. Such […]
The Puerto Rico Gaming Commission has begun to receive applications from those interested in being online sports betting operators in Puerto Rico, agency Executive Director Orlando Rivera confirmed. Those interested in getting authorization to process bets through electronic platforms will find information on the procedure on the commission’s website, which includes the forms and documents […]
The Puerto Rico Ports Authority announced the start of a bidding cycle to perform improvements to the security equipment and systems at the San Juan Bay cruise ship docks to boost electronic security at the docks in that area, agency Executive Director Joel Pizá said. The budget for this project totals $2 million, which includes […]
The US Department of Labor announced a final rule that implements Executive Order 14026 to increase the hourly minimum wage for employees on federal contracts starting Jan. 30, 2022. President Biden signed the order on April 27, 2021. The order is expected to benefit between 10,000 and 12,000 federal workers and contractors in Puerto Rico, […]
The U.S. Small Business Administration has approved more than 28,000 loans to businesses in Puerto Rico and the US Virgin Islands exceeding $2 billion through its COVID Economic Injury Disaster Loan (EIDL) program, it announced. When broken down, Puerto Rico-based small businesses have been approved for 26,751 loans, worth $2 billion, while the USVI has […]
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