U.S. Customs and Border Protection San Juan Field Operations announced the seizure of 201 counterfeit designer wallets in a parcel box coming from Hong Kong via air courier. Another package had a luxury watch. The estimated manufacturer suggested retail price of the seized wallets is about $140,000, and $120,000 for the watch, had the goods been genuine, […]
Tropizen, a licensed cultivator and manufacturer of medical cannabis products, announced the relaunch of its line of cannabis gummies, incorporating new products, ingredients, branding and packaging, along with improved flavors. The new cannabis infused gummies, manufactured in the company’s facilities located in the municipality of Canóvanas, feature updated product formulas with added all natural ingredients […]
A group of Puerto Rican entrepreneurs announced the arrival to the island of Mr. Jeff, a home delivery laundry service franchise originated in Spain, with the first four of 15 planned locations already open for business. The Spanish startup currently has a presence in more than 27 countries around the world with more than 2,000 […]
More than 28,000 families in Puerto Rico have been able to rehabilitate their homes with voluntary help from The Salvation Army and the Federal Emergency Management Agency, which have provided more than $20 million in household items. Through the Salvation Army’s House to Homes program, more than 80 nonprofits have reached out to families affected […]
The U.S. Department of Commerce’s Economic Development Administration (EDA) announced it is awarding a $300,000 CARES Act Recovery Assistance grant to the University of Puerto Rico’s Mayagüez campus to boost its capacity to support regional economic development strategies in response to the COVID-19 pandemic. “This investment comes at a crucial time to help Puerto Rico’s […]
Local agricultural biotechnology company, Bayer Crop Science Puerto Rico, through its Bayer Fund Grants program, recently awarded local grant donations to local non-governmental organizations focused on STEM (science, technology, engineering, and mathematics) programs for the second consecutive year. The company awarded a total of $20,000 to the Sor Isolina Ferré Centers (CSIF, in Spanish) and […]
The U.S. Small Business Administration revealed it has guaranteed nearly 2,000 loans for between $150,000 and $10 million through its Payroll Protection Program in Puerto Rico, totaling a little more than $1 billion as of June 30. These loans are added to the nearly 36,000 SBA-backed loans of less than $150,000, which represent another $741.4 […]
Twenty-five romance, comedy and action films representing $148 million in investments are slated to roll in Puerto Rico beginning in the second half of this year, Department of Economic Development and Commerce Secretary Manuel Laboy confirmed. The productions are backed by the agency’s Film Industry Development Program. “This second semester of the year has a […]
The Puerto Rico Ports Authority confirmed the start of runway pavement improvements at the José Aponte de la Torre regional airport in Ceiba, at a cost of some $3.6 million. Agency Executive Director Joel A. Pizá-Batiz said the project was deemed necessary as part of a pavement inspection program at all airports under its jurisdiction, […]
Faced with the worldwide threat posed by COVID-19, Aerostar Airports, a company that operates the Luis Muñoz Marín International Airport, has boosted security and prevention measures to protect visitors, employees and its community, company executives confirmed. During a tour of Puerto Rico’s main airport facility, Aerostar CEO Jorge Hernández said the goal is to turn […]
Given the lack of up-to-date data for Puerto Rico’s economic activity, local startup Abexus Analytics has turned to unconventional data sources to gauge the performance of the economy during the COVID-19 crisis. The findings are included in a report titled “The Economy is not reserved for Economists,” which takes a technical tour of the issues […]
The Department of Economic Development and Commerce opened the call for Request for Qualifications to identify potential candidates to develop the proposed $300 million Puerto Rico Ocean Technology Complex (PROTech) in Yabucoa. Economic Development Secretary Manuel Laboy unveiled the master plan for the project that also involves the Puerto Rico Land Administration. “PROTech is an […]
Reconstruction projects in Puerto Rico for Hurricane María recovery efforts continue with the assignment of more than $18.5 million in additional funds for 77 projects approved by the Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction, and Resilience, or COR3. The funds were awarded between June 26 and July 1, of which […]
The U.S. Small Business Administration and the U.S. Department of Treasury released Paycheck Protection Program Loan data that revealed that since the start of the program in April, local banks have processed some 35,896 loans for up to $150,000 totaling $741.4 million so far. The detailed loan-level data for Puerto Rico shows that more than […]
EDIC College in Caguas, a university with a focus on health sciences, has merged with Columbia Central University, EDIC’s parent company Philadelphia-based investment firm Renovus Capital Partners confirmed. The combined institution will operate under the Columbia Central University brand and will continue to serve more than 2,000 students from its four physical campuses and online […]
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