The U.S. Department of Agriculture is investing $600,494 to assist rural businesses to create job and increase economic opportunities in Puerto Rico, the agency confirmed. The funds are being provided by USDA, Rural Development, through the Rural Business Development Grant (RBDG). “These grants are strategic investments in nonprofits entities that support rural businesses and they […]
Romark, a research-based pharmaceutical company focused on the discovery, development and delivery of innovative new medicines, primarily in the field of infectious diseases, announced that the U.S. Food and Drug Administration has given its approval to the production of ALINIA, at its Manatí plant. The $80 million, state-of-the-art facility opened a little more than a […]
A report released by professional services firm Aon plc, confirmed that during the first quarter of this year, the property insurance market reflected a trend of rising rates and more cautious underwriting by most insurers. The first quarter of 2020 represented the 10th consecutive period of increases in property rates, according to the “2020 Property […]
Nonprofit organization Direct Relief confirmed it has committed more than $3 million in Puerto Rico during the past five months due to the emergency due to the Covid-19 pandemic. “In our ongoing commitment to facilitate medical access in Puerto Rico to those most in need, and even more so in the face of the Covid-19 […]
For the second day this week, a delegation of White House officials hosted by Puerto Rico’s Resident Commissioner Jenniffer González toured several pharmaceuticals and aerospace companies on the island, in an effort to lure new business for the economy. The goal is to show the island’s “capacity and infrastructure to host multinationals, showing the diversity […]
With a $200,000 investment and the creation of 15 new jobs, Prime Restoration Services has opened an operation in Puerto Rico, becoming the first company on the island to provide specialized services in response and immediate restoration to natural disasters such as hurricanes, earthquakes, fires and pandemics. In addition, it offers the industrial sector, consultancy […]
The Financial Oversight and Management Board for Puerto Rico has assigned $10 million to the Puerto Rico Department of Labor and Human Resources for technological upgrades for a system that is decades old. Agency Secretary Carlos Rivera-Santiago confirmed that the upgrade to a new data system to process unemployment information and payments will begin this […]
Invest Puerto Rico (InvestPR), in partnership with the Department of Economic Development and Commerce (DDEC), Puerto Rico Manufacturers Association (PRMA), the Pharmaceutical Industry Association (PIA), the Mechanical Contractors Association (MCA), and other industry organizations and government officials, are hosting White House officials in a special visit to Puerto Rico, Aug. 18-20. The three-day tour will include visits to companies […]
The Community Development Venture Capital Alliance (CDVCA), a community development financial institution (CDFI) and player in the community development venture capital industry nationally, announced that local executive Myrna M. Rivera has been named to its Board of Directors. CDVA is the manager of two venture capital fund of funds, one of which is the $45 […]
The Puerto Rico Ports Authority has opened a call for a Request for Proposals (RFP) process for the operation, maintenance and repair of the dry dock located at Pier 15 in Isla Grande, agency Executive Director Joel A. Pizá Batiz announced. It is estimated that this project has the potential to generate private investment of $20 million, the […]
International Hospitality Enterprises, a Puerto Rican hotel operator, will incorporate the four Hyatt Place and Hyatt House hotels in Puerto Rico owned by PRISA Group into management its portfolio, Federico Stubbe CEO of the latter company announced. “This transaction represents the union of two local companies committed to the tourism and economic development of Puerto […]
Grupo Guayacán is looking for business ideas and future entrepreneurs who are eager to learn how to start a business in a short, yet intense virtual series of workshops. This will be the 11th edition of Grupo Guayacán’s I-Corps Puerto Rico (I-Corps PR) program, the idea validation boot camp to be offered online at no […]
The U.S. Department of Veterans Affairs will break ground later this year on what will be a new Mental Health and Recovery Center in Hato Rey, at a cost of $46.6 million. The facility is slated to open in November 2022, this media outlet confirmed. The facility will be part of a mixed-use complex planned […]
The Federal Emergency Management Agency announced the assignment of some $7.7 million for the Puerto Rico Forensic Science Institute, known as the ICF in Spanish. This grant will cover work to repair damage to the only expert research center of its kind on the island and aims to improve the building’s capabilities in future events. […]
We Connect, a local company that provides solutions and strategies for event production, announced its expansion and transition into offering services to a virtual world. Through the adoption of Virtway Events, a proprietary and global platform/technology that allows the coordination of any type of event in 3D format, the company becomes the first Virtway certified partner […]
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