Nonprofit organization Ciencia Puerto Rico (CienciaPR) received a $230,000 grant from Science Sandbox, an initiative of the Simons Foundation, to create a collection of public engagement resources to help Puerto Ricans prevent COVID-19. The collection will include multimedia content (audio, videos, infographics), educational materials, and messages that are relevant to the Puerto Rican reality and culture, […]
A major contract signed with the LUMA Energy consortium may prevent Puerto Rico from building a safe, reliable and resilient electrical system, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The deal to operate the island’s grid came in the wake of a series of devastating 2017 hurricanes and amounts […]
The U.S. Small Business Administration, in consultation with the Treasury Department released a simpler loan forgiveness application late last week for Paycheck Protection Program (PPP) loans of $50,000 or less. This decision could affect a little more than 32,000 PPP loans granted in Puerto Rico, according to SBA data released earlier this year. This action […]
Puerto Rico’s new car market showed a deeper contraction than that of the U.S. mainland from March to May — the peak quarantine months to curb the COVID-19 pandemic — but the local market has recovered much faster since then, according to a study by Abexus Analytics. According to the firm’s research entitled “Economic Trends […]
The Department of Economic Development and Commerce announced support for seven Puerto Rico-based companies in the food and textile production sector, whose total investments are close to $3.1 million and the creation of more than 700 jobs. The agency is supporting the expansion of Productos Chebo’s, Amasar LLC, Farm City, and Productos La Finca, which […]
Looking to promote the enactment of healthy public policy that benefits the island’s tourism industry and achieves a positive multiplier effect, business leaders, employment generators, and local capital investors from several sectors of the tourism industry have come together to create the Puerto Rico Tourism Business Council. Among its immediate priorities and in its commitment […]
Puerto Rican Endeavor Entrepreneur Carlos García, co-founder and CEO of the Andiago! company, is one of nine featured entrepreneurs in the Endevor-produced Think Big podcast that seeks to inspire entrepreneurs to find their purpose, transform industries, impact humanity and change the world. Hosted by Mexican media and business consultant Genaro Mejía, Think Big explores the […]
Short-term rental platform Airbnb announced that from Aug. 1, 2017 to Aug. 31, 2020 it has collected a total of $16.8 million from the 7% hotel room occupancy tax and remitted the money to the Puerto Rico government. In 2017, Airbnb established an agreement with the Puerto Rico Tourism Co. to formalize short-term rentals and […]
During September, the Federal Emergency Management Agency approved $48.7 million in additional federal grants for 12 projects to repair several campuses of the University of Puerto Rico, the agency confirmed. “More than a contribution to strengthen the infrastructure of the UPR, this investment will help future generations benefit from resilient facilities within the Island’s public university system. It is […]
Puerto Rico has been awarded nearly $1.9 million for two projects — the Puerto Rico Science, Technology and Research Trust and the Migrant Health Center Western Region Inc. — that will provide enhanced access to telemedicine and online education to rural communities. The funding comes from the U.S. Department of Agriculture’s Distance Learning and Telemedicine (DLT) […]
Cidrines, a Puerto Rican company founded in 1978 known for its sweet ‘sobao’ bread and pastries, is investing $3 million to expand its manufacturing plant in the Zeno Gandía industrial park in Arecibo to increase its exports, company and government officials announced. The investment will cover the hiring of 50 employees over the next 36 […]
Six towns affected by the earthquakes that rattled Puerto Rico in January recently got the go-ahead from the Federal Emergency Management Agency to tap into a combined $19 million in Community Disaster Loans (CDL) to rebuild. Guayanilla, Mayagüez, Ponce, Salinas, Santa Isabel and Villalba will be able to tap into the operational funds meant to […]
The Fairmont El San Juan hotel has named Kelley Cosgrove as general manager of the Isla Verde property, which is also in line to undergo a round of renovations, this media outlet confirmed. Cosgrove, who brings with her 33 years of experience with the chain in properties in Canada, Dubai, Hawaii and California, has been […]
The Ponce Research Institute announced it has received a combined $3.5 million in research grants for several projects currently underway. Of that amount, $750,000 came from the National Institute of Health effective for three years for a project by Eliut Rivera of the Ponce Health Sciences University’s School of Behavioral Sciences entitled: “Reduction of mental […]
A total of 443 petitions were filed at the U.S. Bankruptcy Court in Puerto Rico during the month of September, representing a 31.1% drop from the same month in 2019, according to a report released by research firm Boletín de Puerto Rico. In September 2019, the court received 629 bankruptcy cases, according to the report. […]
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