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 […]
Caribbean hurricane weather is upon us again with the new storm season that begins today. Meteorologists and forecasters in the local news channels keep us duly informed about the wuthering storms, but it’s prudent to know where to look on the Internet for data on other angles of the weather. This may include marine climate […]
The Department of Economic Development and Commerce (DDEC, in Spanish) announced that starting June 3, its Rums of Puerto Rico program, jointly with the brands it represents, will distribute $2.5 million in incentives to members of the alcoholic beverages sales and service industry. The funds will go to bar owners, alcoholic beverage retailers and mixologists/bartenders, […]
Editor’s Note: This post is sponsored by AON Puerto Rico. Studies have shown that healthy, happy and motivated employees deliver higher performance and remain more loyal toward their employers over time. A recent health survey held by Aon showed that 95% of employers recognize the link between wellbeing and productivity. Therefore, investing in the health […]
With the 2021 Atlantic hurricane season starting tomorrow, nonprofit organization Direct Relief is announcing a $3 million investment in new resilient power projects at six Puerto Rico health centers — part of a $5 million commitment to install solar power generation and battery storage at critical sites across the island. The projects include: Prymed Medical […]
Puerto Rico’s most recent Consumer Price Index report showed a 1.4% year-over-year increase in April, the Puerto Rico Economic Development Bank confirmed. “This report is revealed as part of the efforts of the EDB’s Center for Economic Studies to keep small and medium-sized businesses, entrepreneurs and investors informed and also to support decision-making,” said EDB […]
Liberty Puerto Rico announced that its business continuity and disaster recovery plan is ready to face the upcoming 2021 hurricane season, as it has been “updated, tested, and exercised regularly” in collaboration with its parent company, Liberty Latin America. “We’re in a stronger shape to face natural disasters as we have gained experience after recent […]
The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $12.8 million grant to the Roosevelt Roads Local Redevelopment Authority to build and establish the Marine Business, Research & Innovation Center (MBRIC). The EDA grant, to be matched with $3.2 million in local investment, is expected to create nearly 29,500 jobs and spur […]
The U.S. Small Business Administration (SBA) announced today that it is accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach our nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as […]
Less than a year after Re-Grow Puerto Rico was launched and addressing the concerns of the agricultural sector, the Puerto Rico, Technology and Research Trust together with the Housing Puerto Rico Department have implemented improvements to the program. The initiative, which feeds from with Community Development Block Grant (CDBG-DR) Program funds, seeks to expedite access […]
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA