CofC backs federal bill to reboot island’s pharma manufacturing sector
The legislation offers tax credits and aims to strengthen Puerto Rico’s role in the U.S. supply chain.
The Puerto Rico Chamber of Commerce has formally endorsed the bipartisan Medical Manufacturing Economic Development and Sustainability Act, or MMEDS Act, a federal proposal aimed at reviving the pharmaceutical manufacturing sector on the island.
“The MMEDS Act represents a historic opportunity to revitalize Puerto Rico’s manufacturing base and position the island once again as a global leader in pharmaceutical production,” said CofC President Luis E. Pizarro. “We join the industry and our allies in Congress in supporting this key initiative for our economy and national security.”
Introduced by Congresswoman Nicole Malliotakis, R-N.Y., with support from Reps. Ritchie Torres, D-N.Y., Jeff Hurd, R-Colo., and Darren Soto, D-Fla., the bill encourages the return of pharmaceutical production to the United States, with a focus on distressed areas like Puerto Rico. It was originally co-sponsored by Congresswoman María Elvira Salazar, R-Fla.
The legislation proposes dollar-for-dollar tax credits and other incentives to support infrastructure, workforce training and local procurement of essential medical products.
“The MMEDS Act represents a vital tool in positioning Puerto Rico as a strategic manufacturing hub for the United States,” said Gov. Jenniffer González.
“This legislation aligns perfectly with our ongoing efforts to attract investment, generate high-quality jobs and ensure that our island plays a key role in the national security of the supply chain,” she said. “Puerto Rico stands out as an ideal solution thanks to its advanced infrastructure, technical expertise and highly skilled workforce.”
José Julio Aparicio, chair of the CofC’s federal affairs committee, added, “The COVID-19 pandemic made it clear that we cannot depend on foreign suppliers for essential pharmaceutical and medical products. With the MMEDS Act, the U.S. Congress is taking affirmative steps to protect our citizens’ health, strengthen the national supply chain and foster investment and economic development across the country.”
The CofC’s endorsement was formalized during a meeting with the Puerto Rico Federal Affairs Administration in Washington, D.C., where Pizarro signed a letter of support addressed to Malliotakis.
“The MMEDS Act, introduced by the governor during her time in Congress and now led by Rep. Malliotakis, represents a strong and determined step toward this shared vision,” said PRFAA Executive Director Gabriella Boffelli. “This proposal not only promotes sustainable economic development but also affirms the talent and preparedness of our workforce.”
The CofC’s support is part of its Federal Affairs Chamber Educational Series initiative, which advocates for federal policies that promote economic development on the island.
