Approved PPP loans for Puerto Rico approach $500M mark
March 9, 2021
The US Small Business Administration’s Paycheck Protection Program has approved close to $500 million in loans in Puerto Rico and more than $36 million in the US Virgin Islands, the agency announced in its March 7, 2021 report. Moreover, the SBA has approved 12,154 PPP loans for businesses and nonprofits in Puerto Rico, a 10.9% […]
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PRIDCO has 152 vacant buildings, 378 unused lots in inventory
March 9, 2021
The Puerto Rico Industrial Development Company (known as PRIDCO) has an inventory of more than 500 lots and properties currently vacant across the island, this media outlet confirmed. When broken down, the inventory includes 152 vacant properties with a combined capacity of more than 2.4 million square feet, and 378 unused lots spanning a combined […]
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P3 Authority confirms 2 new projects in pipeline
March 9, 2021
Puerto Rico’s P3 Authority unveiled two new projects that are in the evaluation phase, involving the island’s Treasury Department and government-run regional airports. During a presentation to the media, P3 Authority Executive Director Fermín Fontanés said the Treasury Department is seeking to modernize and optimize the agency’s collection processes, taxpayer services and its call center. […]
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Women make their mark on Puerto Rico’s tourism sector
March 9, 2021
Puerto Rico’s women entrepreneurs are making their mark on the island’s tourism sector, from a number of angles. On the one hand, there are those working on the Airbnb platform, which in 2018 had more than 5,000 hosts in Puerto Rico. At present 50% of the island’s hosts on Airbnb are women, the platform confirmed. […]
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Small inn owners call on tourism sector to enforce rules of conduct
March 8, 2021
The members of the Puerto Rico Small Inn and Tourism Owners Association called on the island’s more than 6,000 tourism-related businesses “to comply with their civic responsibility and promote respect for new coexistence norms related to COVID-19, in and around their businesses.” They insisted that “irresponsible behavior is not exclusive to foreign visitors, and that […]
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Costco testing curbside pick-up at 3 New Mexico warehouses
March 8, 2021
Several months after saying that launching curbside pickup services was not on the radar, Costco Wholesale officials confirmed that it is testing the service at its three warehouses in Albuquerque, New Mexico. During a conference call with analysts to discuss its second-quarter earnings late last week, the big-box retailer’s Executive Vice President, Richard Galanti, said […]
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’21 Tax Season: Benefits of an IRA account
March 8, 2021
Are you looking to save for your retirement, or do you need a tool that gives you tax relief? An IRA account can help you save for your retirement and at the same time receive a tax relief you need. Here are some of the benefits you will receive with an IRA account: It is […]
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USDA-NRCS opens ’21 Caribbean Area Partners for Conservation funding call
March 8, 2021
The USDA Natural Resources Conservation Service (NRCS) announced that the NRCS Caribbean Area Partners for Conservation Funding call has been posted to Grants.gov and is open for applications through May 31, 2021. The NRCS anticipates that the amount available for support of this program in FY 2021 will be up to $450,000. The purpose of […]
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Puerto Rico’s retail sales drop 2.4% as COVID-19 pandemic rages in ’20
March 5, 2021
Puerto Rico’s retail sales were apparently affected by the COVID-19 pandemic in 2020, when activity decreased by 2.4%, when compared to the same 12-month period in 2019, according to data provided by the Department of Economic Development and Commerce. However, general sales registered for the month of December 2020 increased to $3.05 billion, which represents […]
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PRASA invests $29M in water infrastructure projects in Northwestern towns
March 5, 2021
The Puerto Rico Aqueduct and Sewer Authority (PRASA) is investing $29 million in all of the infrastructure improvement projects it has planned for the towns of Arecibo, Hatillo, Camuy, Quebradillas, Lares, Utuado and Jayuya. In a meeting with the mayors and elected legislators from the municipalities, PRASA Executive President Doriel Pagán-Crespo, said the improvements include […]
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Solar Responders gets $90K grant to install solar panels at Cataño Fire Dept.
March 5, 2021
Nonprofit Direct Relief and AbbVie teamed up to donate $90,000 to Solar Responders to install solar panels and a battery storage system at the Cataño Fire Department. “Energy resilience is one of the five pillars of Direct Relief’s mission on the island. Installing renewable and resilient energy systems in strategic locations such as health clinics […]
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Retail sector must adapt to changing consumer habits due to COVID-19
March 5, 2021
Changes in retail consumption habits were the focus of the Puerto Rico Retailers Association (ACDET, in Spanish) annual forum, entitled “The Next Generation of Retail, Are You Ready?” Online sales, which have picked up in response to restrictive measures taken to curb the spread of COVID-19, are forcing retailers to look at security tools and […]
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TOLIC invests $10M to open 1st operation outside Puerto Rico, in Orlando
March 4, 2021
Puerto Rico-based Trans-Oceanic Life Insurance Co. is expanding its reach outside the island with the opening of a new operation in Orlando, seeking to cater to the large Hispanic population in that central Florida city. TOLIC, as the firm is known, has invested $10 million to grow its business there, which may also serve as […]
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Puerto Rico Treasury Dept. pays $22M in taxpayer refunds
March 4, 2021
The Puerto Rico Treasury Department has received about 117,081 tax returns and has paid out $22.8 million in refunds a week into this year’s tax season for the 2020 individual filing cycle, agency Secretary Francisco Parés said. “We’re satisfied with the response of taxpayers to this process, which is just beginning. This pro-taxpayers tax cycle […]
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PRASA announces $47M in water infrastructure projects in the west
March 4, 2021
The Puerto Rico Aqueduct and Sewer Authority announced plans for some $47.2 million in infrastructure projects to improve the to the water and sewerage system in western municipalities. “We’re pleased to be able to share with the mayors and legislators of Puerto Rico’s western region the resumption of our capital improvement program that will provide […]
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