The Federal Emergency Management Agency, in coordination with the Puerto Rico Central Office for Recovery, Reconstruction and Resilience, or COR3, obligated more than $26.2 million in funds to the Puerto Rico Electric Power Authority (PREPA) under the Agency’s Hazard Mitigation Grant Program. These funds are for the engineering and design phase to install a new combined cycle […]
Puerto Rico’s “Conciencia Movement” independent gubernatorial candidate Eliezer Molina believes the production economy can be a strategy of economic development for Puerto Rico, according to several interviews he has granted in the media. “We will propel economic development in all sectors of Puerto Rico using manufacturing as part of the industry’s growth,” Molina said in […]
The Puerto Rico Tourism Co. and the Department of Natural and Environmental Resources signed an agreement to speed up the reopening of the iconic Río Camuy Caves Park, which has been closed since Hurricane María hit in 2017. Through the agreement, the Tourism Co. assigned $68,000 in materials and equipment needed to recondition the attraction […]
The economic platforms presented by the candidates running for governor of the island “leave much to be desired,” Alba Brugueras-Fabre, president of the Puerto Rico Economists Association (AEPR, in Spanish) said, after evaluating each of the plans. In a report, the professional association said the platforms of the six candidates: “are reduced to a list of […]
Juan Dalmau, the candidate running for governor under the Puerto Rican Independence Party (PIP, in Spanish), insists the island is ready for a “transformation” related to who gets to run the island. As part of his strategy, he released his “Patria Nueva” political platform on his website before any other candidate in the gubernatorial race that will […]
As the 2020 elections approach, the candidates running for governor of Puerto Rico have revealed their political platforms, which in the case of Alexandra Lúgaro of the Movimiento Victoria Ciudadana (MVC), dedicates two chapters to the economy. In them she states from the start that she envisions creating systems favorable to nature, therefore, “efficient and dynamic.” […]
As part of its mission to support innovative entrepreneurship and impact Puerto Rico’s economy, parallel18 — along with its parent organization, the Puerto Rico Science, Technology and Research Trust — announced the 39 startups that will benefit from its $1 million Business Continuity Fund. The BCF is an investment vehicle created to help graduated companies from the program […]
After months of planning, Tropizen announced the start of the production of Puerto Rico’s first cannabis-infused fruit chewables, as part of its ongoing partnership with U.S. multi-state cannabis and hemp operator MariMed. The company will also manufacture a new cannabis infused chewable tablet. “We’ve seen Puerto Rico’s medical cannabis market evolve and grow exponentially. Patients are […]
Popular Democratic Party gubernatorial candidate Carlos “Charlie” Delgado-Altieri wants to transform Puerto Rico’s economy based on Science, Technology, Engineering and Mathematics (STEM) through a proposal he calls Project 3i. This project consists on establishing a scientific business ecosystem that can allow developed ideas to manufacture and market locally. The plan will promote education in these […]
In 2020, USDA’s Natural Resources Conservation Service (NRCS) continued its tradition of working in partnership with farmers, ranchers, and forest landowners in the Caribbean area — Puerto Rico and the U.S. Virgin Islands — despite hardships from earthquakes to COVID-19 to tropical storms. “Our data and science-based surveys of our work show that we and […]
Many haven’t noticed it, but more and more business websites are now attached to the .io domain. This top country domain is about the British Indian Ocean Territory. It is administered by the Internet Computer Bureau, a domain name registry company based in the United Kingdom, But, recent years have seen it become synonymous with start-up firms […]
Puerto Rico is starting to see the “beginnings of an economic rebound,” as the effects of the influx of federal economic aid and the possibility of the return of pharmaceutical companies are putting the island in a better position heading forward. That optimism is there for José Rafael Fernández, CEO of OFG Bancorp, the financial […]
The U.S. Department of Justice gave its consent to Liberty Latin America’s acquisition of AT&T’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands but required Liberty to sell off certain B2B operations that are part of their footprint in Puerto Rico. Liberty Latin America expects a preliminary court order in the […]
Pall Life Sciences Puerto Rico LLC, a subsidiary of Danaher Corporation, announced a $4.5 million investment in a new electric and thermal energy cogeneration system at its plant in Fajardo, which has been in operation for 45 years. “Pall Life Sciences Puerto Rico LLC, reaffirms its commitment to invest in the island with a system […]
Puerto Rico’s most iconic sporting venues will soon begin to undergo structural repairs through a $15 million allocation from the Federal Emergency Management Agency, the agency announced. The Roberto Clemente Coliseum, Sixto Escobar Park, the Pedrín Zorrilla Coliseum, the San Juan Natatorium, the Baldrich Club tennis courts and the Dr. José Celso Barbosa Park will […]
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