27 Puerto Rico credit unions receive $47.3M in funding from US Treasury
June 16, 2021
The US Department of the Treasury today announced the allocation of $47.3 million in relief funds to 27 Puerto Rico-based credit unions, through its CDFI Rapid Response Program (CDFI RRP). The goal is to provide necessary capital for community development financial institutions (CDFIs) to respond to economic challenges created by the COVID-19 pandemic, particularly in […]
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Popular Inc. originated $2.1B in loans under SBA Paycheck Protection Program
June 16, 2021
Popular Inc. announced that, upon completion of the second round of the Paycheck Protection Program (PPP) on May 31, 2021, it had processed nearly 50,000 loans, originating $2.1 billion in both rounds of the program. Popular said during the second PPP round, which began on Jan. 19, it processed approximately 20,500 loans totaling $673 million […]
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FEMA assigns $93M to PRIDCO for property reconstruction projects
June 16, 2021
The Puerto Rico Industrial Development Company (PRIDCO, in Spanish) has been assigned $93 million from the Federal Emergency Management Agency (FEMA) to begin reconstruction and revitalization of commercial properties affected after the passage of Hurricanes Irma and María in 2017. PRIDCO Executive Director Javier Bayón-Torres said the allocation will benefit 54 mandatory projects throughout the […]
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LMM airport gets $9.4M federal funding allocation to fix runway
June 15, 2021
The Luis Muñoz Marín International Airport (LMM) will receive $9.4 million from the US Department of Transportation’s Federal Aviation Administration (FAA) to reconstruct its main runway. The allocation is part of a round of awards of more than $898.9 million in infrastructure and safety projects through the FY2021 Airport Improvement Program (AIP). This total includes $113.5 million […]
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Practical Techie: Virtual Father’s Day ideas to celebrate online
June 15, 2021
Father’s Day is observed in the US, Canada, United Kingdom, and other countries of the western world as a sequel to the celebration of mothers, a month before. This a day to pay homage to fatherhood, which is always on the third Sunday of June. The year 2020 gave humanity ample experience in virtuality ad […]
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Op-Ed: With persistence and support, adventure park earns worldwide fame
June 15, 2021
When ToroVerde was inaugurated in May 2010, many doubted it would be a success. And as it grew from idea to reality, we had to hear many “No’s.” But each one gave us more strength to continue and to overcome these challenges. Some of the negativity was understandable. Our adventure park is in the mountains, […]
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MHH Healthcare, LLC to acquire Medical Card System Inc.
June 14, 2021
Kinderhook Industries, LLC’s MHH Healthcare announced it has entered into a definitive agreement to acquire Medical Card System Inc. The transaction is expected to close later this year, subject to customary conditions and regulatory approvals, and will mark the second significant acquisition by a subsidiary of MHH Healthcare following the prior acquisition of GlobalHealth. Additional […]
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Workers in Puerto Rico’s metro area make 43% less than US mainland peers
June 14, 2021
Workers in the San Juan-Carolina-Caguas, Puerto Rico Metropolitan Statistical Area had an average (mean) hourly wage of $15.33 in May 2020, about 43% below the United States mainland average of $27.07, the US Bureau of Labor Statistics reported. Chief Regional Economist Martin Kohli said that after testing for statistical significance, all 22 major occupational groups […]
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Carnival Mardi Gras to stop in Puerto Rico during its maiden voyage
June 14, 2021
The maiden voyage of the newest and most modern cruise of the Carnival line, the Carnival Mardi Gras, will include a stop in the Port of San Juan in August, Puerto Rico Tourism Company Executive Director Carlos Mercado confirmed. The stop is part of the agency’s efforts to expand options for maritime access to the […]
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DMO: Travel advisors have become experts in selling Puerto Rico
June 14, 2021
As consumers feel more comfortable traveling, many in the travel industry predict that travel advisors will play an enhanced role in helping them choose their destinations and travel safely, said Discover Puerto Rico. That said, the island’s Destination Marketing Organization has partnered with these professionals to educate and provide them with tools to promote the […]
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FEMA awards funding to repair sports and recreation facilities
June 11, 2021
Several sports facilities in Aguadilla, Aibonito, Barranquitas, Carolina and Toa Baja will be repaired using an obligation of nearly $13.3 million in funds from the Federal Emergency Management Agency (FEMA). Some of these are in the design and planning process, while work in others has already been completed. “In addition to serving as places for […]
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Science Trust grants program commits $1.8M to science, tech innovation
June 11, 2021
As part of its mission to support scientists and researchers to take Puerto Rico’s knowledge economy to a higher level of excellence, the Research Grants Program of the Puerto Rico Science, Technology and Research Trust has awarded $1.8 million to 15 science and technology research projects during 2021, the organization announced. The grants seek to […]
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Short-term vacation rental platform Join a Join shows steady growth amid pandemic
June 11, 2021
Puerto Rican vacation home rental company Join a Join, established in 2015 by brothers Steve and Mike Leung, has achieved steady growth in the number of nights booked through its platform before and during the pandemic. The platform in which users reserve their rentals ahead of time has tripled the number of visits, showing trends […]
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Puerto Rico Energy Bureau OKs $1.2B in electrical infrastructure projects
June 10, 2021
The Puerto Rico Energy Bureau has approved $1.2 billion to be used for all electrical infrastructure projects included in the Puerto Rico Electric Power Authority’s (PREPA) 10-year infrastructure plan. “These projects are an important step in the implementation of Puerto Rico’s energy policy. As the entity in charge of directing and implementing this public policy, […]
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Gov’t readies to launch tech platform to interconnect agencies
June 10, 2021
The Puerto Rico Innovation and Technology Services office (PRITS) is getting ready to launch an interoperability platform that will allow the synchronization of citizen data for accessibility of documents, in an attempt to reduce government bureaucracy. “The Government of Puerto Rico is the custodian of citizen data; therefore, it’s the citizen who must know all […]
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