Gov. Wanda Vázquez confirmed late Tuesday that President Donald Trump signed the Commonwealth’s request for an Emergency Declaration for Puerto Rico following a string of earthquakes that caused significant damage and at least one casualty. This opens the doors for federal agencies, especially the Federal Emergency Management Agency, to provide direct assistance to the island. […]
Less than three months after announcing plans to build a $250 million state-of-the-art headquarters in Dania Beach, Florida, Spirit Airlines confirmed it has closed the acquisition of nine acres from Kimco Realty Corp. The new corporate campus will support more than 1,000 employees in up to 500,000 square feet of space. Spirit has also executed […]
Rhode Island-based CVS Pharmacy is closing three of its 25 stores in Puerto Rico, two in Ponce and one in Carolina, on Jan. 10, this media outlet confirmed. Amy Thibault, senior manager of corporate communications for CVS, said the closings respond to the results of a review of the financial performance of all of its […]
The lack of progress in getting Puerto Rico’s economy back on track does not bode well for what should happen in 2020, according to an analysis by H. Calero Consulting Group Inc. “The economy needs to grow soon, or the assumptions made in negotiating with bondholders may have to be revisited. Something everyone will want […]
Puerto Rico’s population increased by 340 people (0.0%) between 2018 and 2019 after several years of annual population decline, according to the U.S. Census Bureau’s national and state population estimates. The most recent annual population estimates for Puerto Rico confirmed the number of local residents at 3,193,694 as of July 1, 2019. This slight increase […]
As the year comes to a close, representatives from a cross-section of Puerto Rico’s economic sectors offered their impressions of the most significant events of the past decade. The nonprofit sectorIn the wake of the devastation caused by Hurricane María in September 2017, nonprofit organizations became the first responders, which was “an unanticipated and highly […]
Nonprofit organizations have the potential to develop to the fullest, increasing their social contribution, if they incorporate successful and innovative business strategies that use startups, said Attorney Olvin Valentín, executive director of the Nonprofit Institute, which offers education in administrative and business skills to these types of organizations. “For too long, nonprofit organizations have been […]
The Puerto Rico Association of Small Inn Owners and Tourism, which groups about eight properties known as “paradores,” summarized 2019 as a year “full of achievements, learning and concerns,” while preparing to usher in 2020 with optimism. “We can summarize 2019 as a year of substantial adjustments. It was full of challenges in competitiveness, increases […]
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, have assigned more than $20.5 million in additional funds for 37 projects related to Puerto Rico’s recovery and reconstruction. These funds were obligated between Dec. 20-26, the agencies confirmed. “FEMA and COR3 continue to work together to develop strategies […]
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, have obligated nearly $7.5 million in additional funds for 78 projects related to the recovery and reconstruction of Puerto Rico, the agencies announced. These funds were obligated from Dec. 13-19. Among the obligations are funds for architectural and engineering […]
The Center for a New Economy recently hosted members of the media to provide context and information to journalists as they prepare to cover two key events for Puerto Rico’s energy policy. First, the Puerto Rico Energy Bureau will hold a public hearing in February to discuss Puerto Rico Electric Power Authority’s (PREPA) Integrated Resource […]
Toyota Foundation announced that seven nonprofits in Puerto Rico dedicated to education, research and natural resource conservation will split $101,958 to move their initiatives forward. During a recent ceremony, Saskia Gómez, public relations executive for Toyota de Puerto Rico, which sponsors the foundation, said through education, voluntarism or innovation, the Environmental Donations program annually identifies […]
During the 2014-2018 period, 50% or more of the population in 36 of Puerto Rico’s 78 municipalities lived in poverty. Of those 36 towns, in six of them — Maricao, Guánica, Adjuntas, Lajas, Jayuya and Comerío — the level of poverty reached between 60% to 64%, according to the latest statistics revealed in the U.S. […]
Low-cost carrier Spirit Airlines announced the expansion of service to Luis Muñoz Marín International airport with daily nonstop flights from Boston Logan International Airport and Newark Liberty International Airport, with a second daily flight from to New Jersey beginning Feb. 1, 2020. Three other cities will receive an additional daily flight to LMM in 2020 to complement existing […]
U.S. Customs and Border Protection (CBP) San Juan Field Operations announced the seizure of 289 shipments of counterfeit products imported into Puerto Rico via international mail or courier before the holidays. The estimated manufacturer suggested retail price of all the counterfeit products seized is $5.3 million. The domestic value of the purchased merchandise is $309,686, the […]
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