The Puerto Rico Ports Authority has opened a Request for Qualifications process to find candidates to rebuild the 11,700-foot Runway 8-26 at the Rafael Hernández Airport in Aguadilla, a $90 million project to be paid for with federal funding. In an interview with News is my Business, Ports Authority Executive Director Joel Pizá-Batiz confirmed that […]
Acai Express announced plans to significantly expand its locations in Puerto Rico during 2021, to more than double the number of units operated under the brand at the beginning of last year. The company started 2020 with a total of 20 locations. The local franchise has already opened 31 locations in Puerto Rico with the […]
[COMMENTARY] The poor condition of Puerto Rico’s electric grid is common knowledge. After Hurricane María struck in 2017, many communities lost power for months. This long outage led to almost 3,000 deaths and an exodus of residents. Still recuperating from the aftermath of María, the southern part of the island was hit by a major […]
Retail Value Inc., owner of El Señorial Plaza in San Juan, announced it closed the sale of the shopping center on June 3, for $20.4 million. The buyer was undisclosed, and RVI said the sale amount is “prior to closing costs, prorations and other closing adjustments.” The company used the net proceeds to repay mortgage […]
There are currently 168 projects underway to rehabilitate the areas and structures that were affected by the 2020 earthquakes along Puerto Rico’s southern region, the Federal Emergency Management Agency (FEMA) said. Projects include allocations for the municipalities of Mayagüez and Ponce. About $185,000 from the agency are earmarked to repair the Castilo Serralés, the Salazar […]
In an effort to continue promoting the reactivation of the economic activity generated by the tourism sector, the Puerto Rico Tourism Co. unveiled a multi-pronged advertising and marketing plan to promote domestic tourism under the VoyTuristeando brand. During a presentation to mayors, directors of municipal tourism offices and members of the local tourism industry gathered […]
EDITOR’S NOTE: This sponsored post is brought to you by Porsche Center Puerto Rico. The third “Porsche NEXT Digital Innovation Forum” will be held June 9, at 7 p.m. at Porsche Center Puerto Rico and can be seen on the Splash virtual platform and Facebook Live (@PorscheCenterPuertoRico). The German sports car brand is committed to […]
In the past year, 79% of Puerto Ricans have made online purchases, which places the island among the top five most active places when it comes to buying through the internet, according to “The Connected Consumer,” a study commissioned by the Chamber of Marketing, Industry and Food Distribution (MIDA, in Spanish). The analysis, which is […]
The island municipality of Culebra is one of 13 communities selected to participate in “Local Foods, Local Places” (LFLP), a federal partnership program that supports community-led efforts to reinvest in existing neighborhoods, protects the environment, and improves residents’ health and quality of life through the development of the local food economy. The US Environmental Protection […]
The Financial Oversight and Management Board for Puerto Rico has spent five years cutting essential services, while staying away from the “deep pocket” of tax incentives that represent 67.7% of the total expenses related to the commonwealth’s General Fund, even though whether they produce some economic or social benefit is unknown, according to an analysis […]
This edition of Climbing the Corporate Ladder rounds up appointments of executives in the legal, academic and tourism sectors. Carrasquillo Law Group expands Puerto Rico practice groupCarrasquillo Law Group, PC, a boutique law firm headquartered in New York, which brings clients an international perspective with a local understanding, is expanding its Puerto Rico operations with […]
The US Government Accountability Office released a report in which it concluded that the Federal Communications Commission (FCC) did its part in the restoration work after Hurricane María hit Puerto Rico in 2017, but it must clearly define its disaster response role moving forward. The FCC’s part included gathering network outage information and creating a […]
The Caguas municipal government has locked down a $19.2 million non-revolving line of credit from Banco Popular to finance expenses related to the recovery projects related to the damages caused by Hurricane María in 2017. Caguas Mayor William Miranda-Torres confirmed that the town’s administration approved an ordinance authorizing the financing. The town will use the […]
The US Department of Agriculture kicked off National Homeownership Month — which is part of the agency’s efforts to provide access to affordable housing — by offering payment moratoriums and modified application procedures. To assist homeowners facing current hardships, the USDA Rural Development is also working with new borrowers and their lenders to make special […]
Grupo Guayacán announced the official selection of 29 emerging businesses from Puerto Rico that will compete in the 16th edition of the EnterPRize business competition. As part of their selection, all companies will receive an initial incentive of $1,500 and the opportunity to compete for more than $220,000 in seed capital, among other prizes, the […]
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