FEMA assigns $9.5M to Puerto Rico Dept. of Transportation to replace signs
June 25, 2020
The Federal Emergency Management Agency announced an obligation of more than $9.5 million to the Puerto Rico Department of Transportation and Public Works to replace signs on 238 roads covering approximately 496 miles in the Aguadilla, Arecibo and San Juan regions. Some 890,000 residents comprising much of the northern and western region of the island […]
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Raytheon Technologies commits $5M to food banks, including Puerto Rico
June 25, 2020
Raytheon Technologies has committed $5 million to Feeding America to support local food banks, including the Food Bank of Puerto Rico, to help provide essential food and items to citizens in need during the COVID-19 pandemic. The need for food assistance in Puerto Rico has increased by 46% as a result of the health crisis, […]
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Puerto Rico’s 1st Duck Donuts store opens in Bayamón
June 25, 2020
Pennsylvania-based Duck Donuts announced the opening of its first Puerto Rico franchise store located in Plaza Río Hondo in Bayamón. This store is the first of three Duck Donuts franchise locations planned for Puerto Rico, in partnership with local entrepreneurs Jorge Ramos, Juan Carlos Piñero, and Delmarie Ayala over the next three years. This media […]
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pre18 in ‘final stretch’ of application period for 3rd cohort
June 25, 2020
The pre18 program, one of the entrepreneurship support initiatives of the Puerto Rico Science, Technology and Research Trust, announced its traditional Applicathon: individualized sessions to help businesses complete the pre18 application. The event will take place virtually on June 26-27 and July 3-4 from 9 a.m. to 3 p.m. Participants will have 30 minutes to […]
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FEMA allocates $45M for 153 recovery projects in Puerto Rico
June 24, 2020
Several Puerto Rico towns will benefit from 131 permanent project allocations with funds approved by the Federal Emergency Management Agency and Puerto Rico’s Central Office for Recovery, Reconstruction and Resilience, or COR3. The allocations during the week of June 12-18 total more than $45 million in additional funding for 153 projects related to the recovery […]
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Banco Popular’s digital platform reaches 1M users ahead of schedule
June 24, 2020
Banco Popular, Puerto Rico’s largest bank, confirmed that its “Mi Banco” digital platform has reached one million monthly active users, about six months ahead of schedule, officials said. The bank, which invests about $6 million a year to improve its digital offering, said more than 70% of all Banco Popular customers have enrolled in “Mi […]
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JetBlue launches Cash+Points redemption option to boost travel
June 24, 2020
JetBlue announced it is launching a Cash+Points redemption option for customers who are ready to book travel but do not have enough TrueBlue points to cover the full cost of their itinerary. Available when booking directly with JetBlue, TrueBlue members are now able to make up the difference by using a combination of cash and […]
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Ticketera integrates physical distancing in its event ticket sales platform
June 24, 2020
Event ticket sales platform, Ticketera, announced it has updated its service to comply with the physical distance regulations that will be required for the restart of mass events in Puerto Rico. In doing so, it becomes the first Puerto Rican company offering the technology that will place seats with the predetermined distance to address the […]
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Private consortium to take over PREPA’s T&D system in 15-year contract
June 23, 2020
The Puerto Rico Public Private Partnerships Authority announced that LUMA Energy, LLC — a consortium comprised by Canadian firm ATCO Ltd. (ATCO) and U.S.-based Fortune 500 firm Quanta Services Inc. — has been selected to operate, maintain and modernize the Puerto Rico Electric Power Authority’s electricity transmission and distribution for 15 years. The announcement follows […]
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Energy regulator orders New Fortress Energy to explain lack of approval for San Juan LNG facility
June 23, 2020
Federal regulators have asked the operator of a scandal-plagued Puerto Rico energy project to explain why they didn’t seek permission to build and operate a liquid natural gas terminal (LNG) adjacent to the island’s first major power project since a 2017 hurricane devastated the island’s electrical grid. The Federal Energy Regulatory Commission (FERC) last week […]
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Puerto Rico Oversight Board certifies COFINA fiscal plan
June 23, 2020
The Financial Oversight and Management Board for Puerto Rico announced that it certified the government of Puerto Rico’s updated Fiscal Plan for the Puerto Rico Sales Tax Financing Corporation (known as COFINA, in Spanish). The 2020 Fiscal Plan for COFINA is “based on the macroeconomic projections outlined in the Certified Fiscal Plan for the Commonwealth […]
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SJ Marriott, St. Regis launch special offers for Puerto Rico residents
June 23, 2020
The San Juan Marriott Resort & Stellaris Casino recently received the Health & Safety Certification from the Puerto Rico Tourism Co. for its “high standards of disinfection and preparedness against COVID-19.” The certification is awarded to businesses that “effectively implement and execute the safety measures and protocols to avoid the spread and transmission of COVID-19,” […]
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Nat’l Science Foundation grants $100K to UPR-Mayagüez PEARLS project
June 22, 2020
The National Science Foundation (NSF) has granted $100,000 to the University of Puerto Rico in Mayagüez, for its “Recruiting, Retaining, and Engaging Academically Talented Students from Economically Disadvantaged Groups into a Pathway to Successful Engineering Career,” known as Engineering PEARLS. The funding will enable the project, now in its second year, to expand its scholarship base and […]
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Popular sells Caparra Center building to Triple-S for undisclosed amount
June 22, 2020
Popular Inc. has sold a 180,000-square-foot building, known as Caparra Center, to Triple-S Management Corporation through a private deal that keeps the price tag under seal. “We’re viewing this transaction as a private one. However, the acquisition of this 180,000-square-foot building will allow us to have the additional space to respond to our growth in […]
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Gov. Vázquez announces $10.2B budget for Puerto Rico’s FY ’21
June 19, 2020
Puerto Rico Gov. Wanda Vázquez announced a proposed $10.2 billion budget for the Commonwealth’s General Fund for Fiscal Year 2021. In her State of the Commonwealth and Budget address, she also proposed a consolidated budget of $28.2 billion that includes funds generated by a number of public agencies for the fiscal year that begins July […]
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