InvestPR aims to build on $733M in investments in fiscal 2025
The organization sets ambitious goals for fiscal 2025 after a record-breaking year.
Invest Puerto Rico (InvestPR), the island’s organization responsible for attracting business and capital investment, is preparing for fiscal year 2025 with plans to strengthen Puerto Rico’s position as a global investment destination.
Building on its successes from fiscal year 2024, InvestPR will focus on key sectors such as biosciences, technology, aerospace, and professional services while addressing challenges like energy stability and workforce alignment.
“Looking ahead, our priority will remain consolidating Puerto Rico as a leading destination for global investment and innovation. We’re committed to fostering strategic collaborations, leveraging our competitive strengths and ensuring the continuity of key initiatives that drive the island’s sustainable development,” said InvestPR CEO Ella Woger-Nieves.
“Puerto Rico’s success is not just a goal; it’s our mission, and together we will continue building a prosperous future for all,” Woger-Nieves added.
Key initiatives for the upcoming year include expanding the 21st Century Techforce program to develop a tech-savvy workforce, promoting Puerto Rico’s brand in global markets and implementing strategies to adapt to the global minimum tax.
InvestPR also plans to address logistical barriers by improving access to ready-to-use industrial properties and enhancing business facilitation tools.
The challenges “are crucial to capitalizing on the current momentum and building a brighter future for Puerto Rico,” Woger-Nieves said.
Fiscal 2024 results: A record year
InvestPR’s strategic efforts led to record-breaking results in fiscal 2024, with $733 million in investments secured and commitments for 4,900 new jobs across 626 businesses. Since its launch in 2018, the organization has facilitated approximately 25,000 job commitments and more than $2 billion in investments.
“We have focused on showcasing Puerto Rico’s unique advantages as a business destination, and the numbers speak for themselves,” said Woger-Nieves.
One notable achievement was the launch of the “It’s not what’s next, it’s where” campaign, targeting markets in the United States, Canada, Europe and Central Asia. The campaign highlighted Puerto Rico’s strengths in biosciences, aerospace and renewable energy, countering misconceptions and boosting international interest.
“Promotional initiatives executed throughout the year have gradually shifted global perceptions of Puerto Rico, helping us demonstrate that the island has the talent and opportunities needed to compete on a global scale,” said Nicole Vilalte, chief marketing officer at InvestPR.
Promotional efforts gained coverage in outlets such as Forbes, The New York Times, The Wall Street Journal, Fast Company, INC, and Business Traveler.
InvestPR participated in more than 90 trade events, conferences and conventions worldwide, including the BIO International Convention, SelectUSA, SXSW, MedTech, and Web Summit.
The organization also conducted trade missions to key markets, such as India, Germany, Spain and the United Kingdom, along with six familiarization trips to Puerto Rico for site selectors and international media to showcase the island’s capabilities.
Notable investments and initiatives
Fiscal 2024 saw significant investments in renewable energy, biotechnology, and defense technology:
- Solx: Established Puerto Rico’s first solar panel manufacturing facility in Aguadilla, creating 250 specialized jobs.
- ReAlta Life Sciences: Chose Puerto Rico as its hub for research and manufacturing of innovative therapies, leveraging local talent.
- iTerra Solutions: Opened an R&D center focused on cyber weapons and electronic warfare, with plans to expand to 50 roles over five years.
Key tools, such as the Impeller platform, which facilitated $14 million in capital raising, and the Workforce Dashboard, which connects investors with local talent, were instrumental to these successes, InvestPR officials said.
Looking ahead, InvestPR remains focused on sustainable growth through collaboration. Partnerships with organizations such as the Environmental Protection Agency and federal CHIPS Act programs have strengthened Puerto Rico’s designation as a biotechnology hub, improving the island’s global stature.
“Puerto Rico’s success is not just a goal; it’s our mission,” said Woger-Nieves. “Together, we will continue building a prosperous future for all.”
