FCC launches new affordable broadband connectivity subsidy program
January 4, 2022
Following Congressional directives in the Infrastructure Investment and Jobs Act, the Federal Communications Commission officially launched the Affordable Connectivity Program, the $14.2 billion successor program to the Emergency Broadband Benefit which helped almost 9 million afford internet access during the pandemic. Effective now, eligible households are encouraged to apply to receive up to $30 per […]
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Frommer’s includes San Juan in its ‘10 Best Places to Go’ in US in ’22
January 4, 2022
Frommer’s Travel Guide has put together a list of its 10 Best Places to Go in the United States this coming year, which includes San Juan, which it describes as “newly revitalized following its quincentenary.” “With COVID-19 still a major concern, the Frommer’s staff struggled with whether to publish our annual Best Places article for […]
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USDA opens call for grants to preserve affordable rural rental housing
January 4, 2022
The US Department of Agriculture announced it is accepting applications for grants to assist in the preservation of affordable rural rental housing, for which it is making $3 million available. Grant recipients will provide services to multi-family housing borrowers and applicants. These services will help facilitate the transfer of properties financed with USDA direct loans […]
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EDB: Key indicators show Puerto Rico’s economic recovery in ’21
January 3, 2022
Several positive indicators point to an economic improvement on the island during 2021 in the face of the great losses caused by the COVID-19 pandemic, Puerto Rico Economic Development Bank President Luis Alemañy said. The agency’s Center for Economic Studies — headed by Economists Gladys Medina and Juan Carlos Gonzalez — offered a rundown of […]
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Puerto Rico private sector urges Executive, Legislative to ‘execute’ in ’22
January 3, 2022
The Puerto Rico Chamber of Commerce (CofC, in Spanish) asked the government — both the Executive and Legislative branches — the schedule to begin “executing” to move from recovery to economic growth, said Luis Gierbolini, president of the private sector trade group. In his statement, Gierbolini said Puerto Rico must move to resolve the issues […]
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UPR researchers assess human and fiscal costs of COVID-19 pandemic
December 30, 2021
A team of researchers at the University of Puerto Rico Cayey Campus recently released the findings of a study that probes the challenges that policymakers face during a pandemic — in this case COVID-19 — regarding the fiscal and human costs associated with different mitigation measures. The research entitled “Balancing fiscal and mortality impact of […]
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Puerto Rico Opportunity Zone Fund invests in Fusion Farms
December 30, 2021
Monllor Capital Partners LLC announced that the Puerto Rico Opportunity Zone Fund, LP private equity fund has made an undisclosed investment in Mayagüez-based Fusion Farms, a vertical indoor aquaponic farm developer and operator. The Puerto Rico Opportunity Zone Fund (PROZ) is reportedly the first private equity firm fund focused on Environmental, Social, and Governance (ESG) […]
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US Dept. of Treasury grants 1-year transition period for taxpayers under Act 154
December 30, 2021
The US Department of Treasury and the IRS released the final regulations related to the Foreign Tax Credit under Act 154, which grants an additional transition year to taxpayers who currently pay under that tax system, Puerto Rico Treasury Secretary Francisco Parés confirmed. “The provisions in the regulations, regarding Puerto Rico, are the product of […]
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Education Dept. signs $12M agreement to provide fresh milk to lunchrooms
December 30, 2021
The Puerto Rico Education Department and the Milk Industry Promotion Fund signed an agreement through which the agency will invest $12 million to distribute fresh milk to the island’s public-school lunchrooms. The agreement will be in effect through Sept. 30, 2024 and complies with federal regulations that require offering five food components to lunch service […]
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USDA opens call for loans under Intermediary Relending Program
December 30, 2021
The US Department of Agriculture announced it is accepting applications for loans to support economic development and create jobs for people in rural areas, under the Intermediary Relending Program. The initiative provides a low-interest loan to local lenders or “intermediaries” that re-lend the funds to businesses to improve economic conditions and create jobs in rural […]
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14 small businesses in Vega Baja to get $659K in federal grants
December 30, 2021
Fourteen small businesses in the town of Vega Baja will receive grants of up to $50,000 each for a total of $659,112, town Mayor Marcos Cruz-Molina announced. The funding comes following an alliance between the municipality, the Puerto Rico Economic Development Bank, and the Community Socio-Economic Institute (INSEC, in Spanish). The first entrepreneurs who each […]
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FEMA obligations for permanent work in Puerto Rico exceed $19M
December 29, 2021
While the Federal Emergency Management Agency (FEMA) maintained a fast-paced obligation of funds last year, construction work leads the way toward the revitalization of many communities throughout the island, the agency said. To date, FEMA has allocated more than $25.7 billion in federal funds, of which more than $19 billion are for permanent work. Hundreds of projects […]
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Small inn owners expect challenges in the new year
December 29, 2021
The Puerto Rico Association of Small Inn Owners and Tourism are expecting challenges in 2022, for which they will try to encourage a greater movement of non-resident travelers to the regions outside of San Juan and increase the presence of the group and convention segment in the Porta del Sol and Porta Caribe. “This year […]
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Practical Techie: Tech advances flow in ’21 amid pandemic and disasters
December 29, 2021
Now that 2021 is the year that was…it was, as usual, one with many high-tech advances. Breakthroughs in digital science were not the least deterred by the cataclysmic events of these past year. So, what flows next? There are already clear insights on the horizon of technological developments for 2022 and beyond as applied to […]
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FirstBank and INprende graduate 123 entrepreneurs from their 1Éxito program
December 29, 2021
Looki g to strengthen their business models, FirstBank together with INprende graduated 123 entrepreneurs from the third edition of the 1Éxito program. The students participated in five free virtual training sessions on topics related to business development. In addition, for completing the 1Éxito program, they received certificates to open a commercial account at FirstBank without […]
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