DDEC, UPR Mayagüez launch a second call for Innova that includes $100K incentive
September 22, 2021
The Department of Economic Development and Commerce (DDEC, in Spanish) and the University of Puerto Rico’s Mayagüez campus, signed a collaborative agreement to launch the second call for the Puerto Rico Innova program — a project that seeks local entrepreneurs — of which finalists may request a $100,000 incentive. The finalists may also request a […]
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Treasury Dept. confirms Premium Pay compensation program open for eligible workers
September 17, 2021
Employers of specific private sector industries can now access the link in their SURI accounts to request the payment of additional compensation, or Premium Pay, for employees who meet the eligibility requirements, Treasury Department Interim Secretary Ángel Pantoja-Rodríguez said. The $2,000 Premium Pay payment comes from a $200 million fund allocated by Gov. Pedro R. […]
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Puerto Rico Economic Dev’t Bank wants to turn PUA recipients into entrepreneurs
September 7, 2021
The Puerto Rico Economic Development Bank is looking to convert those who benefitted from the Pandemic Unemployment Assistance program into “entrepreneurs instead of employees,” agency President Luis Alemañy said. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, passed in 2020 created the PUA program through which thousands of individuals in Puerto Rico […]
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Puerto Rico Economic Dev’t Bank confirms 169K local workers are self-employed
September 6, 2021
The Puerto Rico Economic Development Bank confirmed over the weekend that close to one-sixth of the island’s workers, or about 15.8%, are self-employed. The data was provided at a press conference during the United Retailers Association’s (CUD in Spanish) convention, when EDB President Luis Alemañy said that as Pandemic Unemployment Assistance (PUA) benefits come to […]
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Ponce gets $6.7M from FEMA to repair cultural facilities
September 2, 2021
The Enrique “Coco” Vicéns Recreational and Cultural Center, known as “La Guancha” in Ponce, received a $6.7 million allocation from the Federal Emergency Management Agency (FEMA), for permanent repairs, the agency announced. In addition to being a meeting place, the iconic complex in the island’s second-largest town is key for its economy. During regular operations, […]
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PRASA to deploy $46M in infrastructure upgrades
September 1, 2021
A trio of government agencies — the Puerto Rico Aqueduct and Sewer Authority, the Infrastructure Financing Authority (AFI, in Spanish), and the Health Department — announced the signing of an agreement to carry out $46 million in improvements to the water utility’s infrastructure. During a news conference, officials from all agencies confirmed that the money […]
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COR3 leads sessions on how to maximize use of reconstruction funds
August 27, 2021
The Central Office for Recovery, Reconstruction and Resilience (COR3) carried out a series of orientation sessions on the management of funds under sections 428 and 406 of the Federal Emergency Management Agency (FEMA) Public Assistance program. “We’re at an important moment in which agencies, municipalities and nonprofit organizations are developing new reconstruction projects, and there […]
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InvestPR launches ‘Impeller’ online tool to list business opportunities in Puerto Rico
August 26, 2021
In its ongoing bid to attract capital investment to the island Invest Puerto Rico, announced the launch of Impeller, an online hub for investment opportunities on the island. The proprietary tool provides a growing list of business opportunities for issuers and companies looking to access on- and off-island investment deals, InvestPR CEO Rodrick Miller said. […]
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Pandemic unemployment aid ends Sept. 4 after disbursing $9.6B in Puerto Rico
August 26, 2021
The Department of Labor and Human Resources announced the end of the benefits of temporary assistance programs such as the Pandemic Unemployment Assistance (PUA) and the Pandemic Emergency Unemployment Compensation after disbursing $9.6 billion in Puerto Rico in 18 months. “Today, some 130,000 unemployment and PUA claimants were notified, via email, about the imminent end […]
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Caguas partners with Google my Business to benefit town’s small operations
August 23, 2021
The Municipality of Caguas announced the integration of the town’s small and medium-sized businesses into the Google My Business platform to guarantee greater visibility for them in the digital universe, in addition to boosting the city’s economy. Mayor William Miranda-Torres said the initiative’s goal is to increase sales for municipal businesses by 1%, which would […]
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Pierluisi unveils design plans for new $56M hospital in Vieques
August 20, 2021
Gov. Pedro Pierluisi unveiled the concept and timeline for what will be a new full-service hospital on the island municipality of Vieques. The cost of the project that will break ground by year’s end has an associated investment of $56 million. The facilities will be constructed in phases starting in 2022 and finishing in 2024, […]
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Ports Authority opens RFI for 3 docks at the Puerto Nuevo Port Zone
August 20, 2021
The Puerto Rico Ports Authority has initiated a Request For Interest (RFI) process for the lease, development, operation, administration and improvements of the M, N, and O docks in the Puerto Nuevo Port Zone, agency Executive Director Joel A. Pizá announced. He explained that after a negotiation process, the Ports Authority recovered these piers late last […]
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Treasury: Puerto Rico ’21 fiscal year revenue beats projections by $606M
August 12, 2021
Net income accrued at the close of Fiscal 2021 totaled $11.7 billion, exceeding the projection by about $606.1 million or 5.5%, Puerto Rico Treasury Department Secretary Francisco Parés confirmed. Furthermore, he noted that the preliminary net income for June 2021 totaled $1.4 billion. This figure exceeded both the income for the same period during the […]
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Puerto Rico P3 Authority seeking co.’s to modernize HTA’s digital infrastructure
August 10, 2021
The Puerto Rico Public-Private Partnerships Authority (P3) is seeking quotes from qualified financial, technical, and legal advisors to assist with the analysis of a potential P3 project related to the modernization of the digital infrastructure of the Puerto Rico Highways and Transportation Authority (HTA). According to the Request for Quotes documents for the project’s different […]
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34K Puerto Rico homeowners sheltered by USDA eviction moratorium
August 5, 2021
The US Department of Agriculture’s decision to extend the eviction moratorium for homeowners of properties financed or guaranteed by the agency through Sept. 30 could offer a reprieve to troubled mortgagees in Puerto Rico. There are 34,000 on that list, but not all are experiencing hardship. Furthermore, the agency announced that the single-family foreclosure moratorium […]
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