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 […]
Invest Puerto Rico, the island’s new economic development engine, shared its data-driven plan to promote Puerto Rico as an investment destination and help usher in the island’s “next great economic transformation,” said CEO Rodrick Miller. The promotional plan, based on extensive research and analysis of global megatrends, economic data, perceptions, disruptive factors and Puerto Rico’s […]
The Puerto Rico Teachers Federation Credit Union (FedeCoop, for its initials in Spanish) recently inaugurated its new headquarters in Río Piedras, for which it invested $3.7 million. During the past 10 years, the institution has had growth that has led it to hire more staff and expand its facilities. The new facilities have a drive-thru […]
Low-fare carrier Frontier Airlines announced four new routes from the Luis Muñoz Marin International Airport to Baltimore, Boston, Chicago and its first international service from San Juan to the airline’s most recent Caribbean destination: Santo Domingo, Dominican Republic. Frontier serves 11 destinations with direct service from San Juan. The new routes were part of a […]
New car sales for the month of November totaled 10,503 in Puerto Rico, up 5% year-over-year from the 10,001 units sold in the same month in 2018, he United Group of Automobile Importers confirmed. GUIA, as the trade organization is known for its initials in Spanish, said, however, that new car sales so far this […]
Philadelphia-based Cuba Libre Restaurant & Rum Bar will open its first restaurant outside the U.S. mainland at the Plaza Las Américas mall in January 2021, the company announced. The planned 10,000 square foot restaurant will represent an investment of $8.6 million and is expected to create more than 200 new restaurant and construction jobs. Cuba […]
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, have obligated more than $5.4 million in additional funds for 44 recovery and reconstruction projects in Puerto Rico. The funds were obligated on Dec. 5-12. FEMA and COR3 continue to work together to develop strategies that advance recovery projects. […]
The Puerto Rico Economic Development Bank’s Economic Activity index reached 121.6 in October 2019, a 0.4% increase compared to October 2018, the first positive growth after four year- over-year consecutive declines, and a 0.3% rise when compared to September 2019. The annual comparison is with respect to October 2018, when electricity was restored to those […]
The Puerto Rico Techno Economic Corridor inaugurated Growponics, a high-technology hydroponic nursery in Isabela following an investment of more than $1.6 million in its first phase, and creating eight direct jobs. The project, designed for planting and harvesting green vegetables, is part of the Finca Explora ecosystem, the island’s first agro-technological incubator located in the […]
Many consumers are in a sprint to the finish getting their holiday gifts and greetings in the mail. This week is anticipated to be the busiest of the holiday mailing and shipping season for delivery services such as the U.S. Postal Service and FedEx. While the government agency expects to process and deliver nearly 2.5 […]
OFG Bancorp announced it has received final regulatory approval and related licenses from the U.S. Virgin Islands Banking Board required for its subsidiary, Oriental Bank, to close the previously announced acquisition of Scotiabank’s USVI operations. The approval comes less than a week after the financial institution announced it had received the OK from the Board […]
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