Walmart Puerto Rico has established a new agreement with Lettufresh to increase the purchase and export of lettuces that the company harvests. The agreement with Lettufresh, located in the Frontón neighborhood in Ciales, increases the purchase in Walmart stores of its romaine and Salanova lettuces, in its new “Duo” packaging, which contains a pair of […]
Driftwood Capital, commercial real estate investment, development and lending platform specializing in hospitality, has acquired the Sheraton Old San Juan, a 240-room hotel and 27,500-square-foot retail complex in Old San Juan, it announced. The financial terms of the deal were undisclosed, News is my Business confirmed. “Driftwood intends to undertake a full-scale renovation of the […]
People 55 and older living in Puerto Rico experienced the most significant increases in internet access and digital media use, increasing from 62% in 2019 to 86.5% in 2021, while those 65 and over jumped from 28% to 43.6%. However, even with this jump of more than 657,000 people 55+ who are connected, gaps in […]
Invest Puerto Rico — a nonprofit investment promotion organization — confirmed that it was able to lock down commitments generating almost 5,000 jobs, with $270 million in capital investment for the island in Fiscal 2021. Those achievements will be included in the entity’s final report to be released in a few months, Ella Woger-Nieves, chief […]
We can all safely say that Puerto Rico’s great economic experiment began taking shape last year, marked by three extraordinary events. Our experiment starts with the earthquakes in the southern part of Puerto Rico that continues to affect thousands of lives from leaving children without schools to shuttering business to affecting the mental health of […]
EDITOR’S NOTE: This post is sponsored by Oriental bank. It has been a hard year for small and medium businesses (SMEs). The COVID-19 pandemic stopped the economy, and SMEs were the first to feel the consequences. Months with little to no activity can have a devastating effect on a business. Luckily, the Small Business Administration […]
The US Department of Labor announced it has awarded nearly $3 million to the Alianza Municipal de Servicios Integrados Inc., a Caguas-based nonprofit that provides employment and training services to youth, adults, displaced people, veterans, and social security disability recipients. The grant is part of a global $68M allocation that the federal agency made to […]
The Department of Economic Development and Commerce (DDEC, in Spanish) announced a call for employers looking to hire staff interested in participating in a Recruitment Fair, sponsored by the agency’s Labor Development Program (PDL, in Spanish). Agency Secretary Manuel Cidre encouraged anyone interested in entering the job market to attend the event slated for Oct. […]
Puerto Rico credit unions “have a great opportunity” for expansion with the growing Puerto Rican migratory flow to the US mainland, where they can also grab part of the Hispanic market that does not yet have banking services, according to a study by local analysis firm Estudios Técnicos. Other growth challenges for Puerto Rican credit […]
Federated Wireless, a shared spectrum and private network provider, announced it will be introducing the Citizens Broadband Radio Service (CBRS) in Puerto Rico and the U.S Virgin Islands to deliver service to the region’s Wireless Internet Service Providers (WISPs) and Mobile Network Operators (MNOs). With the buildout and deployment of its Environmental Sensing Capability (ESC) […]
The Federal Emergency Management Agency (FEMA) has allocated more than $1.2 million to make repairs to the facilities at the iconic Caja de Muertos Island Nature Reserve, located off Puerto Rico’s southern coast. Among the attractions of this protected natural area are the Pelícano beach and several educational offerings, such as talks or sea turtle […]
Despite the allocation of federal funds that exceed $62 billion, Puerto Rico’s recovery has faced multiple delays, and because a large portion of reconstruction projects are delegated to contractors, nonprofit Sembrando Sentido carried out a study on public contracting processes with Community Development Block Grant (CDBG-DR) funds, to identify the causes of the delays, their impact, and […]
Nonprofit organization Salud Integral en la Montaña (SIM) received nearly $1.2 million in federal funds from the American Health Rescue Plan funded by the Health Centers Program of the US Department of Health’s Health Resources and Services Administration. The seed funding will be used to break ground on the new Comprehensive Diagnosis Health Center in […]
The US Department of Agriculture announced that it is accepting applications to support economic development and create jobs for people in rural areas. The agency is making this funding available under the Rural Business Development Grant program for eligible entities to support business opportunity and enterprise projects in rural communities. Eligible entities are rural towns, […]
As part of the celebration of “Manufacturing Day,” Boston Scientific Dorado will host for a whole month different technology activities and workshops open to students, professionals from different specialties and the public so that they can learn about the importance of manufacturing in medical equipment. “October 1 is officially celebrated as ‘Manufacturing Day.’ But we […]
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