25% of all households in Culebra, Old San Juan are rented through Airbnb
February 14, 2019
The impact of Airbnb in Puerto Rico is such that it already exceeds 10,000 properties on the Island, according to an analytical report by Estudios Técnicos Inc. In tourist zones like Culebra and Old San Juan, a quarter of all homes are listed through the digital renting platform, which demonstrates its very high penetration in […]
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Customs seizes $4.4M in counterfeit products in P.R./USVI
February 13, 2019
U.S. Customs and Border Protection San Juan Field Operations announced the seizure of counterfeit products imported into Puerto Rico via international mail or courier before and after the holidays. The estimated manufacturer suggested retail price of all the counterfeit products seized to date is an estimated $15 million. The actual price of the purchased merchandise is […]
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Grupo Guayacán seeks applications for 11th edition of Venture Accelerator
February 13, 2019
Grupo Guayacán Inc. announced the start of its annual call for applications for the Guayacán Venture Accelerator, an entrepreneurial education and development program for companies established in Puerto Rico seeking new growth opportunities. Companies, which are selected through a competitive process, must be in operations for at least three years and demonstrate organizational capacity and […]
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New $2.1M Fifty-Eight nightclub opens at La Concha resort in Condado
February 12, 2019
Following an investment of $2.1 million, entrepreneurs Matt Moncada and Paco López officially announced the opening of Fifty-Eight, a new nightclub at La Concha Renaissance Resort in the Condado sector of San Juan. The new venue also represents a partnership with the hotel’s owner, Paulson & Co., which may open the doors for more locations […]
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$35.5M mixed-income housing complex, Renaissance Square, opens in San Juan
February 8, 2019
National affordable housing developer, McCormack Baron Salazar, Inc., and the Puerto Rico Department of Housing, have officially opened Renaissance Square, a new mixed-income apartment community located in Hato Rey. A public/private partnership between the Department of Housing, McCormack Baron Salazar, Citi Community Development, and Hunt Capital Partners, the project used public dollars to leverage private […]
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Mastercard opens new offices in P.R., Jamaica; Boosting operations in DomRep
February 8, 2019
As part of its strategic plan to evolve and develop its Caribbean structure, Mastercard announced changes that will strengthen its presence on the islands, including expanding their offices in the Dominican Republic and opening new offices in Puerto Rico and Jamaica. This growth will promote greater agility and efficiency when providing service to clients and […]
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Gov’t commissions feasibility study for commercial spaceport in Roosevelt Roads
February 7, 2019
The Puerto Rico government has signed a collaborative agreement with Florida-based RS&H Inc. to conduct a feasibility study to establish a commercial spaceport at the José Aponte de la Torre Airport, in the former Roosevelt Roads naval base in Ceiba. The study will cost $75,000 and should be ready by June 30, 2019. “We believe […]
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Marriott Int’l, Avendra, Walmart work with Clinton Foundation to back P.R. farmers
February 6, 2019
At a meeting of the Clinton Global Initiative Action Network on Post-Disaster Recovery held in Puerto Rico last week, the Clinton Giustra Enterprise Partnership (CGEP) announced a commitment to launch an assessment in Puerto Rico that would evaluate feasibility to increase sourcing from local farmers, connecting new customers and improving incomes for farmers in the […]
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Buena Vibra Group, Capital DBG collaborate on initiatives in P.R./DR
February 6, 2019
Creative companies Buena Vibra Group and Capital DBG announced the signing of a collaboration agreement that seeks to expand the resources and tools that each agency has for strengthen the conversation between Puerto Rico and the Dominican Republic. Both agencies, denominated as non-traditional, have an innovation focus that is based on cultural and social entrepreneurship. […]
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‘Rise of the Rest’ tour, which highlights startup success, to stop in P.R.
February 4, 2019
Washington, D.C.-based investment firm founded Revolution, founded in 2005, announced that its next five-day “Rise of the Rest” bus tour — to highlight startup success outside of Silicon Valley — will visit Puerto Rico on May 3. The visit to Puerto Rico will explore innovation and entrepreneurship with Chef José Andrés in the aftermath of […]
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IEEFA says privatizing P.R. Electric Power Authority is not the answer
February 1, 2019
Puerto Rico’s electricity consumers will pay unreasonably high rates if plans to privatize the Puerto Rico Electric Power Authority move forward. The IEEFA analysis, “PREPA Privatization Will Hurt Consumers and Slow Economic Recovery,” recommends reforming the public model as more reliable, affordable, and sustainable both financially and environmentally. If the proposed privatization model is implemented, […]
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‘Social determinants’ census underway in Vieques
January 31, 2019
Finding solutions to the core problems in Puerto Rico requires making visible the socioeconomic and health needs — also known as social determinants — of vulnerable and lagging populations. With this in mind, a dozen community organizations from Vieques joined in late 2018 and determined to use technology to provide help with greater precision and […]
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Grupo Guayacán opens call for 8th I-Corps P.R. cohort
January 29, 2019
Grupo Guayacán Inc. (GGI) announced that it will offer the upcoming eighth cohort of its Customer Discovery Boot Camp, I-Corps Puerto Rico (I-Corps PR), at the Gurabo campus of Ana G. Méndez University (AGMU). This marks the first time that the idea validation program will be offered at this campus, and the second time it’s […]
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Clinton Foundation gets update on post-María recovery in Humacao
January 29, 2019
Foundation for Puerto Rico and P.E.C.E.S., as well as local small business owners, provided an update of its Bottom Up Destination Recovery Initiative to President Bill Clinton, Secretary Hillary Clinton, and members of the Clinton Foundation during their visit to Puerto Rico. Led by the Foundation, the Bottom Up Destination Recovery Initiative aims to support […]
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New $130M mixed-income housing complex breaks ground in Caguas
January 25, 2019
The Puerto Rico Department of Housing and affordable housing developer, McCormack Baron Salazar, Inc., announced the closing on the financing and start of construction of a $130 million mixed-income housing in Caguas. Located on vacant land that was previously a public housing site, the new community includes housing options that are affordable to families and […]
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