Islandwide expands operations with $1.6M investment, job creation
The move was supported by the Puerto Rico Economic Incentives Fund.
Puerto Rico Economic Development Secretary Manuel Cidre has announced the expansion of Islandwide, a company dedicated to inventory control, logistics and transportation. The expansion was facilitated by the Puerto Rico Economic Incentives Fund for the purchase of machinery and equipment, as well as for the retention and creation of jobs, alongside a private investment of $1.6 million.
“With the new machinery and advanced technology, this company, which has been in Puerto Rico for over 30 years, will double its shipping production from 1,500 packages per day to 3,000, which will help it continue to grow in the local and U.S. markets,” Cidre said. “This fills us with satisfaction, and we are pleased to have been part of this growth through the incentives that result in new job opportunities and economic development.”
In May, Islandwide established a strategic alliance to provide small and medium-sized enterprises and individuals with “a broad portfolio of integrated logistics solutions for exports” to the U.S. mainland. It also has a partnership with Made in Puerto Rico (Hecho en Puerto Rico) to provide services to the Puerto Rican diaspora.
“I express my gratitude to the Department of Economic Development and Commerce secretary for his vision, willingness and sensitivity to promote the development of entrepreneurs like myself,” Rosaly said. “With this support, we have created jobs and implemented new technology plans. In addition, we have acquired new machinery that will maximize the services we offer to our clients in Puerto Rico and now, with the alliance with UPS, to the U.S.” mainland.
The new machinery will speed up delivery and distribution services and improve the care in handling packages.
Islandwide CEO Pedro Rosaly added that the company, which is located at the Rexco Industrial Park in Guaynabo, will assist important companies in Puerto Rico, resulting in the creation of more than 300 new jobs, in addition to the 397 in its current workforce.
Islandwide also announced the recent inauguration of ENGINE, a business and training center created to offer training and seminars to its associates and clients. It presented the Iwide Business solution as well, which allows businesses to make multiple simultaneous transactions for pickups and deliveries of products and merchandise throughout Puerto Rico.
