InvestPR looks to position Puerto Rico as ‘next global BioSciences Manufacturing destination’
Invest Puerto Rico (InvestPR), the Island’s economic development organization, is moving ahead with its strategy to reshore BioScience activities back to the US, through the “Accelerate Success” campaign with the underlying theme that the future of BioScience is in Puerto Rico
The campaign, which highlights Puerto Rico’s assets and value proposition for life science manufacturing and R&D, is part of InvestPR’s overall strategy to elevate Puerto Rico as a competitive business and investment destination.
InvestPR responded to the pandemic by prioritizing the local BioPharma sector, implementing initiatives to reshore and secure the US industry supply chain.
The campaign positions the island as the nexus of opportunity for companies in the industry, which stand to benefit from advanced technology, new capabilities, and expanded market access at higher cost efficiency, accounting for Puerto Rico’s 60-year legacy in the sector, InvestPR CEO Rodrick Miller said.
“Accelerate Success” touches on Puerto Rico’s readiness to support BioScience activities. The Island features move-in-ready facilities and comprehensive industry support that enables companies to build world-class customized life science facilities.
Also, ongoing improvements to Puerto Rico’s existing infrastructure will accommodate greater manufacturing output. An increased connectivity rooted in an advanced 5G-enabled IoT network that connects devices in Puerto Rico with international IoT grids, artificial intelligence, automation, and more.
In collaboration with the Department of Economic Development and Commerce (DDEC, in Spanish), InvestPR is also focusing on the island’s 2020 designation as the first location in the US to receive a waiver for an international cargo and passenger transfer hub.
This waiver allows Puerto Rico to leverage its logistics expertise, establish new international travel and commercial routes, help companies cut costs, reduce shipping times, and ensure top-quality handling of any product.