Seeking to add “greater visibility and access” to detailed information on the behavior of COVID-19 on the island, the Puerto Rico Health Secretary Lorenzo González, unveiled the agency’s digital dashboard that presents the official figures and behavior of the virus on the island. This tool promotes the development of the capacities needed to increase the […]
The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the University of Puerto Rico to hire three Disaster Recovery Coordinators to execute disaster recovery efforts throughout the entire Commonwealth. The project, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will be matched with […]
New car sales in Puerto Rico reflected a 66% year-over-year drop in March, slammed by the strict emergency measures in place to contain the spread of the coronavirus COVID-19 virus, industry officials confirmed. The United Automobile Importers Group, known as GUIA in Spanish, confirmed that 3,154 units were sold in March, compared to 9,309 new […]
Given with the challenge that employers in Puerto Rico are facing due to the health emergency caused by the COVID-19 pandemic, the Department of Economic Development and Commerce is earmarking $8 million in federal funds to reimburse up to 160 employers for certain expenses. Economic Development Secretary Manuel A. Laboy Rivera said the funding will […]
Company directors and officers (D&O, for short) are facing “unprecedented times,” by not only having to manage a whirlwind of change and disruption in their business models as factors such as technology, changing buyer behaviours, socio-demographic shifts and climate change begin to exert their influence, but they’re also being confronted by the global spread of […]
The Puerto Rican Endowment for the Humanities will grant $500,000 to cultural organizations that have been economically affected by the COVID-19 emergency. These funds are available due to a special allocation from the National Endowment for the Humanities (NEH), Endowment for the Humanities Executive Director Margarita Benítez said. “The $500,000 grant to the Puerto Rican […]
The Puerto Rico Bankers Association is urging residents to stay “informed and alert” to the various fraud schemes that have arisen related to the coronavirus COVID-19 pandemic. Additionally, the trade group is emphasizing the importance of learning how to properly manage these schemes to protect personal and financial information. Scammers have taken advantage of the […]
Puerto Rico’s economy will experience a net direct impact of some $4.8 billion through the end of 2020 as a result of the measures taken to fight the spread of the COVID-19 virus — which could have been as high as $8.2 billion, had the blow not been softened by local and federal relief packages. […]
The Federal Emergency Management Agency announced the obligation of an additional $11.4 million in funds for 97 post-Hurricane María recovery and reconstruction projects in Puerto Rico. That amount includes nearly $2.5 million assigned to the Office of the Governor at La Fortaleza in Old San Juan for a number of repairs to the building’s third […]
Puerto Rico Farm Credit confirmed it will be offering local farmers affected by the COVID-19 emergency options to get financial assistance available through the U.S. Small Business Administration’s Paycheck Protection Program. The SBA has selected a number of financial institutions in Puerto Rico to help the different sectors. The program offers employers a loan to […]
Puerto Rico’s current situation, albeit unfortunate, will bring more opportunities “find niches of economic growth and development” in the medium and longer term. But in the near-term, the island will continue to drag economic challenges present before the COVID-19 emergency. So predicts H. Calero Consulting Group Inc. in its latest edition of its in-house “Economic […]
The Puerto Rico Treasury Department is waiting on its federal counterpart to issue the guidelines to cut $1,200 checks to eligible island residents as part of the CARES Act. However, the agency announced that it is considering advancing the disbursements after the Financial Oversight and Management Board for Puerto Rico approved the local government’s request […]
Passenger flow from the areas of largest spread of the virus in the United States has dropped but has not stopped. Those areas also have the highest concentrations of Puerto Rican residing there. That is coupled with the fact that island airports did not take preventive health measures for weeks and tracing people who were […]
Stressing that the COVID-10 pandemic has put the spotlight on the importance of the manufacture of medicines, products and medical devices to guarantee the health of citizens, the Alliance for the Economic Development of Puerto Rico launched a campaign to support the return of pharmaceutical and health-related products to the United States. The private sector […]
The quarantine in place to contain the spread of the COVID-19 virus in Puerto Rico has left many community and nonprofit organizations with a limited ability to offer social services — which are essential for the island’s vulnerable populations. To remedy that, Puerto Rican company Propulsa, LLC has created Sociants, a free digital platform that […]
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