USDA grants $421K for economic dev’t in towns of Barceloneta, Naguabo
November 9, 2021
The US Department of Agriculture is awarding $421,295 to the towns of Barceloneta and Naguabo, to provide placemaking and planning assistance to help improve social, cultural, and economic structures for people living in rural communities. The agency is making the awards under its Rural Placemaking Innovation Challenge (RPIC) and in Puerto Rico, it partnered with […]
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PRASA opens bid for 11 infrastructure projects worth $176M
November 8, 2021
The Puerto Rico Aqueduct and Sewer Authority (PRASA) will open bids for 11 infrastructure projects in December, whose total investment approaches $176 million, government officials said. The list of projects includes improvements to the raw water intake located in the Río Grande de Añasco, the completion of the rehabilitation of the Cidra dam, the design […]
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Vieques Sustainable Economic Dev’t Council presents multi-action plan
November 4, 2021
The Vieques Sustainable Economic Development Council — created earlier this year to move the economy of the island municipality forward — presented to Gov. Pedro Pierluisi a multi-strategy plan to develop tourism, jobs, improve transportation, health, infrastructure, energy, security, education, and special projects. One of the steps taken by the Council is to recommend that […]
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Puerto Rico Treasury seizes 136 investment accounts in brokerage houses
October 29, 2021
The Puerto Rico Treasury Department confirmed the seizure of 136 investment accounts in local and US brokerages held by delinquent taxpayers, amounting to more than $3 million. Agency Secretary Francisco Parés said the figure includes interest, surcharges, penalties, and garnishment costs. “This action coordinated by the agency’s Revenue Bureau stemmed from the failure of taxpayers […]
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Puerto Rico Treasury: General Fund net income for July, Aug. exceed projections by $177M
October 20, 2021
Net income that flowed into the Commonwealth’s General Fund for July and August reached $801.1 million and $675 million, respectively, for a total of about $1.5 billion, which exceeded collections projections by $176.9 million, Puerto Rico Treasury Secretary Francisco Parés said. Income tax collections for individuals and corporations exceeded the projection by $51.2 million or […]
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Labor Dept. reminds employers about Christmas bonus exemption rules
October 19, 2021
The Department of Labor and Human Resources informed employers that they have until Dec. 15, 2021, to pay the bonus to private sector workers who are entitled to it, according to Puerto Rico laws. Employers looking to be exempted from paying the bonus to their employees, because they suffered economic losses or received earnings that […]
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USDA awards $358K to 8 rural water infrastructure projects in Puerto Rico
October 15, 2021
The US Department of Agriculture has awarded grants totaling $358,000 to develop eight rural community water projects across Puerto Rico that were crippled by Hurricane María in 2017. The funding is part of a global $272 million the agency will distribute across the US mainland and Puerto Rico under its Water and Waste Disposal loan […]
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COR3 makes 1st disbursement of $7.1M for PREPA reconstruction projects
October 15, 2021
The Central Office of Recovery, Reconstruction and Resiliency (COR3) announced the first disbursement of approximately $7.1 million to the Puerto Rico Electric Power Authority for work related to reconstruction projects. “The approval of the Advance Request, presented by PREPA to COR3 and whose millionaire amount was disbursed to cover expenses incurred and projected for the […]
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FEMA approves $26.2M to rebuild Félix Millán stadium in Yabucoa
October 15, 2021
The Federal Emergency Management Agency (FEMA) announced it has awarded nearly $26.2 million to the municipality of Yabucoa to rebuild the Félix “Nacho” Millán baseball stadium. This obligation is an addition to the more than $41 million that has been allocated to the municipality to date for 61 other permanent work projects. “This obligation marks […]
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Gov’t agencies to promote entrepreneurship after end of jobless benefits
October 14, 2021
The heads of the Puerto Rico Economic Development Bank and the Labor Department signed a collaborative agreement to provide funding and grants from the Small Business Financing-CDBG-DR program to new and existing entrepreneurs who received unemployment and Pandemic Unemployment Assistance (PUA) benefits. People who qualify for the microentrepreneur financing program may receive up to $25,000 […]
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Gov’t unveils new online platform to cut back bureaucracy
October 13, 2021
Puerto Rico government officials announced the launch of the “Identificación Electrónica de Acceso en Línea” platform, known as IDEAL, an online tool that connects public agencies, vowing to eliminate bureaucracy and streamlining processes that citizens and businesses get when submitting applications for certifications, services, contracts and permits. During a news conference, Gov. Pedro Pierluisi said […]
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DDEC grants tax exemptions incentives to young entrepreneurs in 15 towns
October 13, 2021
The Department of Economic Development and Commerce’s (DDEC, in Spanish) Office of Business Incentives announced it has granted tax exemption incentives to 25 young entrepreneurs from 15 municipalities throughout the island to develop new businesses. The agreements provide, for a period of three years, the following benefits: 100% exemption in the payment of tax on […]
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Puerto Rico gets $2.4M to prevent fraud in unemployment programs
October 4, 2021
The US Department of Labor recently awarded the Puerto Rico Labor Department a little more than $2.4 million to help the agency detect and combat fraud in its unemployment insurance programs. The funds are part of a global $195.7 million allocation awarded to states and territories, and the District of Columbia, the federal agency said […]
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Biden taps 2 women with Puerto Rican roots to key positions at WTO, Treasury
September 27, 2021
President Joe Biden has announced that he intends to name Puerto Rican attorney María Luisa Pagán to be deputy US trade representative and ambassador to the Geneva-based World Trade Organization (WTO). Her nomination must be confirmed by the US Senate. Pagán was born and raised in Puerto Rico and currently resides in Maryland. A federal […]
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Gov’t announces trade mission to Dominican Republic later this year
September 23, 2021
Looking to promote and strengthen the presence and incursion of local companies into the Dominican Republic market, the Department of Economic Development and Commerce (DDEC, in Spanish), through its Trade and Export Program, is recruiting for the first in-person multisectoral trade mission since the start of the pandemic, from Nov. 30-Dec. 3, 2021. “Currently, the […]
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