Gov’t revokes 121 tax incentives decrees under Act 22
December 16, 2021
The Department of Economic Development and Commerce (DDEC, in Spanish) has revoked 121 tax incentive decrees to Act 22 (now Act 60) beneficiaries who failed to submit annual reports to the agency, as the law required. Carlos Fontán, director of the DDEC’s office of business incentives in Puerto Rico, said in April, the agency began […]
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10K New Year’s Eve revelers expected at Puerto Rico Convention Center festivities
December 16, 2021
Puerto Rico’s New Year’s Eve countdown at the Convention Center District is expected to draw as many as 10,000 revelers, who will be required to be fully vaccinated against COVID-19 to participate, government officials said. In a press conference, Gov. Pedro Pierluisi and Convention Center District Authority Executive Director Mariela Vallines, said the “From Puerto […]
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Puerto Rico Labor Secretary stepping down Dec. 31
December 15, 2021
Following a year and a half at his post as Puerto Rico Labor Secretary, Carlos Rivera is stepping down for personal reasons effective Dec. 31, he confirmed in an interview with News is my Business. “I’ll be honest when I say that I had to manage an emergency and I wasn’t going to turn my […]
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Puerto Rico Labor Dept. investing $22M on new online jobless benefits platform
December 15, 2021
The Puerto Rico Labor Department will implement a new virtual platform for the island’s unemployment program — a $22 million project for which it has hired the firm Geographic Solution to work in collaboration with the Puerto Rico Innovation and Technology Services (PRITS) office. The new platform will be developed in phases and will be […]
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San Juan to invest $210M over 36 months to revitalize infrastructure
December 14, 2021
San Juan Mayor Miguel Romero unveiled a lofty agenda to develop and revitalize the city’s infrastructure, investing $210 million over the next 36 months. The works will be developed through grants obtained from the Federal Transit Administration, the Federal Emergency Management Agency (FEMA), CDBG-DR funds under the City Revitalization program, as well as local funds, […]
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Labor Dept. transfers 19 ‘Pa’ mi Gente’ kiosks to promote self-employment
December 14, 2021
The Puerto Rico Labor Department announced the transfer of 19 mobile kiosks to the same number of municipalities in Puerto Rico’s southern, eastern, and western flanks to boost self-employment and economic activity, agency Secretary Carlos Rivera confirmed. The “Pa’ mi Gente” program was created in 2010 and ran through December 2016 under the Labor Department. […]
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FEMA allocates $7.2M+ to repair wastewater treatment facilities
December 10, 2021
The Federal Emergency Management Agency (FEMA) allocated more than $7.2 million to the Puerto Rico Aqueduct and Sewer Authority (PRASA) for repairs to wastewater treatment and water pumping facilities in Humacao and Las Piedras. These projects ensure critical services for more than 55,000 residents of Humacao, Las Piedras and Naguabo, the agency stated. The funds […]
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Puerto Rico gets $5.1M federal allocation for tourism pandemic recovery
December 9, 2021
The US Department of Commerce has awarded Puerto Rico $5.1 million through the American Rescue Plan to “integrate tourism into distressed urban areas with activities that focus on local artists, cultural influences, and community involvement.” The funds are part of a global $196 million in American Rescue Plan State Travel, Tourism, and Outdoor Recreation grants to 24 […]
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Gov’t drops plan to seek P3 for Puerto Rico Aqueduct and Sewer Authority
December 7, 2021
The Public-Private Partnership Authority announced it will no longer seek a private-sector partner to optimize the Puerto Rico Aqueduct and Sewer Authority’s (PRASA) water consumption measurement system and the management of its commercial operation. This comes more than three years after the P3 Authority published a Request for Qualifications in June 2018 to identify of […]
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Puerto Rico to get $78M from EPA to repair water infrastructure
December 3, 2021
Puerto Rico will receive $78.4 million through the Bipartisan Infrastructure Law in 2022, which comes from the US Environmental Protection Agency’s State Revolving Fund (SRF) to upgrade aging water infrastructure and address key challenges like lead in drinking water and other contamination issues. EPA Administrator Michael S. Regan announced the round of funding that totals […]
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FEMA allocates $9.7M to revitalize Puerto Rico’s town squares
December 3, 2021
Luquillo, Fajardo and Naguabo are the most recent municipalities to join the more than 67 recreational plazas that will be transformed with a $9.7 million allocation from the Federal Emergency Management Agency (FEMA). This approval of federal funds will be used to repair damage caused by Hurricane María and will include hazard mitigation measures for […]
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Op-Ed: Success using ARPA funding
December 2, 2021
In Puerto Rico, we continue to set an example for other United States jurisdictions on how to respond to the COVID-19 pandemic. After leading the administration of CARES Act funding effectively, without findings, we are now doing the same with the American Rescue Plan Act (ARPA) funds. Among other financial allocations, ARPA represented a $2.47 […]
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Gov’t unveils plans for $118M Bahía Urbana project in Old San Juan
November 30, 2021
The Puerto Rico government announced the start of work to rebuild and develop the new Bahía Urbana through an agreement with the Convention District Authority, and a private investment of $118 million that will create more than 180 jobs during its construction and 250 once it is in operation. For this project, Las Brisas Property […]
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Puerto Rico employers have until Nov. 30 to request Christmas bonus payment exemption
November 29, 2021
Puerto Rico’s private-sector employers have until Nov. 30 to file a Christmas bonus payment exemption request for 2021, Labor Secretary Carlos J. Rivera-Santiago announced. So far, the agency has received 30 requests for exemption from payment of the Christmas Bonus, of which 21 were accepted, six were accepted at 15%, one was denied and two […]
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COR3 to support medical device, tourism sectors attract investment
November 25, 2021
As a result of a series of roundtables headed by the Central Office of Recovery, Reconstruction and Resiliency (COR3), its Executive Director Manuel Laboy signed two collaborative agreements with the medical devices and tourism sectors to provide data that allow the development of strategic marketing plans that promote investment in the island. “The reconstruction process […]
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