Cuba Libre restaurant opening in Plaza Las Américas still on, despite delay
February 15, 2021
Philadelphia-based Cuba Libre Restaurant & Rum Bar, which was slated to open in Plaza Las Américas last month, will still make its debut in Puerto Rico, but with a delay of about a year, this media outlet confirmed. The construction and opening of Cuba Libre San Juan, a GuestCounts Hospitality LLC brand, was set back […]
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USDA offers conservation easements to farmers in Puerto Rico/USVI
February 15, 2021
Puerto Rico and US Virgin Islands farmers and private landowners are encouraged to apply by March 26th for conservation easements to protect and restore agricultural working lands and wetlands through USDA’s Agricultural Conservation Easement Program (ACEP). A conservation easement is a voluntary agreement between a landowner and a government or non-government entity that creates a […]
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Labor Dept. announces $465M federal unemployment benefits payout
February 12, 2021
The Puerto Rico Department of Labor and Human Resources announced the disbursement of a combined $465 million in unemployment benefits, split between $371.3 million in Pandemic Unemployment Assistance (PUA) payments and $94 million in retroactive disbursements. Labor Secretary Carlos J. Rivera-Santiago confirmed that the latter payout covers the retroactive weekly payments of the $300 approved […]
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Mercedita Int’l Airport in Ponce unveils $866K expansion
February 12, 2021
The Mercedita International Airport in Ponce inaugurated an $866,252 expansion to its boarding terminal, ahead of the resumption of commercial passenger flights for that facility and the Rafael Hernández International Airport in Aguadilla on April 1st. The expansion allows the arrival and management of two planes simultaneously, while the investment also covered the remodeling of […]
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Hotel occupancy predicted at 86% for this holiday weekend
February 12, 2021
Puerto Rico hotels this holiday weekend could reach “the highest level” of occupancy, at 86%, since January 2020 after the closing of all commercial sectors amid the seismic events that began in the southern region and the announcement of the global COVID-19 pandemic. The Puerto Rico Tourism Co. report on reservation numbers reflected that Feb. […]
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Puerto Rico Institute of Statistics opens call for paid internship
February 12, 2021
The Puerto Rico Institute of Statistics announced that during the next two weeks — and while the available spaces are filled — it has opened a call for paid internships for graduate students of statistics, mathematics, computer science or in any other area based on statistics. This also includes economics, planning, demography, epidemiology, biostatistics, criminology, […]
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OBoard reaches ‘agreement in principle’ on debt, drawing concerns
February 11, 2021
The Financial Oversight and Management Board for Puerto Rico announced that it reached an agreement in principle with several creditor groups to lower Puerto Rico’s debt to what it termed “sustainable levels” as a result of a mediation process. In tandem with the announcement, the Oversight Board asked the court to extend the deadline for […]
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Treasury Dept. seeks exclusion from federal Foreign Tax Credit public policy
February 11, 2021
The Puerto Rico Treasury Department has asked its federal counterpart to clarify whether a new regulation under consideration concerning credits granted for taxes paid by corporations doing business abroad would apply to Puerto Rico. In a letter sent to US Treasury Secretary Janet Yellen, the local government asked for the proposed “Guidance Related to the […]
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CDBG-DR assigns $20.8M to San Juan for recovery works in the city
February 11, 2021
The Municipality of San Juan will receive $20.8 million from the Community Development Block Grant (CDBG-DR) City Revitalization Program for the restoration of infrastructure in areas still affected by the 2017 hurricanes. The funding is part of a sub-recipient agreement signed between San Juan Mayor Miguel Romero-Lugo and Puerto Rico Housing Department Secretary William Rodríguez-Rodríguez, […]
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Dept. of Education to invest $6.6M in safety gear to reopen schools
February 11, 2021
Puerto Rico Education Secretary Elba Aponte-Santos confirmed plans to invest $6.6 million in protective gear and materials for the reopening of public schools in a “safe” and “healthy” way. The Financial Oversight and Management Board of Puerto Rico approved the funding and oversaw the investment for a detailed list of materials, cleaning and protection products […]
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SBA approves $171M in 2nd round of PPP loans in Puerto Rico so far
February 10, 2021
The number of loans that the U.S. Small Business Administration has approved so far through its second round of Paycheck Protection Program funding doubled in Puerto Rico to 4,740 during the week of Feb. 1-8, from the 2,595 OK’d the prior week. In its weekly update, SBA officials also confirmed that those applications approved so […]
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New retail development project for Aguadilla breaks ground
February 10, 2021
Scheduled to open sometime next year, new commercial retail development project Plaza Noroeste Commercial Center began early construction this week in the municipality of Aguadilla with an initial investment of more than $5 million. The final figure is expected to be closer to $40 million once the project is completed, this media outlet confirmed. Construction […]
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Bluhaus Small Business Fund completes $5M investment in Acrecent Financial
February 10, 2021
Bluhaus Small Business Fund, a Puerto Rico-based private equity fund, completed a $5 million investment in Acrecent Financial Corporation, an alternative lender with nearly two decades dedicated to addressing the credit needs of small and medium-sized enterprises. This investment is the Bluhaus’ inaugural transaction after its establishment in March 2020 and being licensed by the […]
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Startup accelerator gener8tor announces launch of gBETA San Juan
February 10, 2021
Startup accelerator gener8tor announced the launch of gBETA San Juan, the first gener8tor program to be offered in both English and Spanish. gBETA is a pre-accelerator for early-stage companies, and gBETA San Juan will add to the 23 existing programs across the U.S. and Canada, it confirmed. gBETA is a free high performance accelerator for […]
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PRASA unveils $40M improvement plans for eastern-area water systems
February 9, 2021
The Puerto Rico Aqueduct and Sewer Authority announced the reconstruction of the Caguas Central Laboratory, at an investment of some $40 million. It consists of the construction of a structure designed under the new codes established for earthquakes and atmospheric systems, PRASA Executive President Doriel Pagán-Crespo said. She added that during the last quarter of […]
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