4 new co.’s sign decrees representing $9M in investments in Caguas
New businesses Primevet, Dismart, NTSPR and Puerto Rico ASC Holdings signed, along with Mayor William E. Miranda-Torres, Socio-Economic Incentives Code decrees representing a committed investment of $3.6 million in the traditional urban center and $5.4 million in other areas of the city.
“For the municipal administration this meeting is very important because it shows that the city and the island have entrepreneurs committed to being part of the reconstruction and economic development,” Miranda-Torres said during the meeting to formalize the agreements.
“With its investment, jobs are created and retained — one of the main reasons for the emigration of our people. The Criollo Incentives Development Code is an effective and innovative tool for socio-economic growth, as it promotes attracting new businesses to the city and encourages the retention and expansion of existing businesses,” he said.
“In addition, Caguas is positioned as a competitive and entrepreneurial city fulfilling the mission of retaining and creating new jobs, investment and exports at a time of economic recession,” said Miranda-Torres.
Jointly, these companies represent $3.6 million in new investment in the town’s traditional urban center, 12 new full-time jobs, more than $500,000 in annual payroll, and sales volume of nearly $6 million in the first year.
In other areas outside the urban center, these decrees represent $5.4 million in new investment, 36 jobs in the construction phase, 33 new full-time jobs, nearly $2 million in annual payroll, and close to $1.7 million in annual sales volume in the first year.
The four companies pledged to make every effort so that 50 percent of the acquisition of goods and services is carried out in Caguas and the region. In addition, Dismart has plans to export its products to the U.S. mainland, the Caribbean and Canada.
Primevet will be located on Highway 172, 3rd section of Villa del Rey and is dedicated to the diagnosis, treatment and care of pets and animals. Dismart established its offices in the Gatsby building in the urban center, and is dedicated to the import, export and sale of office products and stationery in Puerto Rico, the Caribbean, Canada and the U.S. mainland.
NTSPR is established on PR156, at the Valle Tolima Industrial Park, and is dedicated to developing new cost-effective, green water treatment technologies in industrial and commercial processes.
Puerto Rico ASC Holdings is dedicated to developing and managing ambulatory surgery centers. They acquired land on PR 156, where it will open its Caguas Ambulatory Surgical center.
The Incentives Code was designed by the town’s Economic Development Department. Some 61 additional decrees have been signed since its implementation in 2012.