Puerto Rico businesses are missing out on making millions from federal government contracts each year, a shortcoming that represents a significant loss of growth opportunities. Looking to mitigate that, the Puerto Rico Industrial Development Co. on Tuesday announced the creation of the Federal Contracting Center, an office that will begin operating next month at the agency’s Hato Rey headquarters.
The Economic Development Bank announced Sunday it is looking to boost its loan portfolio for Puerto Rico’s small- and mid-sized businesses by nearly 10 percent, to $275 million, in fiscal ’12, as a result of efficiencies achieved at the agency over the past 23 months.
Sergio Marxuach (Credit: ©Mauricio Pascual) Two years after the Luis Fortuño administration declared the island in a state of fiscal emergency, and put into motion a series of cost-cutting and revenue-generating measures, the government has managed to control expenditures and reduce the structural deficit — and has piled on debt — an analysis by the […]
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