Lincoln plans to deliver full portfolio of connected and electrified vehicles by ’30
June 21, 2021
Lincoln will debut its first global fully electric vehicle next year, the first step toward electrifying its entire portfolio of vehicles by the end of the decade. The new electric vehicle will debut as the brand celebrates its 100th anniversary next year and accelerates growth in North America and China, the company confirmed. By mid-decade, […]
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USDA announces July 16 application cutoff for all conservation initiatives
June 21, 2021
Do you want to earn payments to expand conservation activities on your farm? Or are you an organic farmer or transitioning to organic? The USDA Natural Resources Conservation Service (NRCS) is holding a second signup period for the Conservation Stewardship Program (CSP) for both conventional and organic farmers. The application deadline is July 16, 2021, […]
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Laboy: $4B in FEMA risk mitigation funding not at risk
June 18, 2021
The Central Office of Recovery, Reconstruction and Resiliency (COR3) is “focused on reaching the goal to allocate the $4 billion in Hazard Mitigation Grant Program funds assigned by the Federal Emergency Management Agency (FEMA) on or before Oct. 31. Agency Executive Director Manuel Laboy rejected comments that the funds are at risk. “We’re working full […]
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Insurer Seguros Múltiples building new $3M branch in San Juan
June 18, 2021
Insurance company Cooperativa de Seguros Múltiples de Puerto Rico announced the start of construction of its new $3 million San Juan metropolitan area branch, located on the same campus as its headquarters in Río Piedras. The new offices slated to open during the first quarter of 2022 will generate 40 direct jobs and 30 indirect […]
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Executive appointments at FirstBank, Uber, Ernst & Young
June 18, 2021
This edition of Climbing the Corporate ladder features executive appointments in several industries, namely banking, a ride-share company and an accounting firm. FirstBank announces trio of new executivesFirstBank CEO Aurelio Alemán announced the following appointments to the institution’s executive group: Sara Álvarez, as executive vice president and general counsel; Juan Carlos Pavía, as executive vice […]
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Philanthropist MacKenzie Scott donates $3M to Flamboyan Foundation’s Arts Fund
June 18, 2021
Philanthropist MacKenzie Scott granted the Flamboyan Foundation a $3 million donation to support the Flamboyan Arts Fund, an initiative that preserves, amplifies and sustains the arts community in Puerto Rico. “We are grateful to MacKenzie Scott for this investment in the work we have been doing since 2018 to protect Puerto Rico’s rich artistic heritage,” […]
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Sacred Heart University receives ‘Epic MegaGrant’ from Epic Games
June 18, 2021
Interactive entertainment firm Epic Games has selected Sacred Heart University and its Creative Technologies Studio (StudioLab), as an Epic MegaGrant recipient. The MegaGrant will be used to support StudioLab’s advanced courses in 3D animation, visualization and interactivity, university officials said. Students at Sacred Heart will benefit from the access to knowledge and hands-on experience with […]
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Hewlett Packard Enterprise gets gov’t backing for clean energy project
June 17, 2021
Hewlett Packard Enterprise (HPE) has been granted an exemption from the government of Puerto Rico covering the production, sale, and operation of Highly Efficient Energy, including combined heat and power systems operated by liquefied natural gas (LNG) or renewable liquified natural gas (RLNG), on a commercial scale. This incentive has been granted as an investment […]
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FEMA OKs $16.6M for water distribution and control facilities
June 17, 2021
The Federal Emergency Management Agency (FEMA) awarded nearly $5 million for construction work at three water distribution and control facilities in Puerto Rico. This obligation will repair 12 land irrigation pumps in Santa Isabel and a flood control channel in Culebra, the agency confirmed. “These projects address issues of vital importance related to the safety […]
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AZ Foods looks to implement new model to help small businesses distribute goods
June 17, 2021
AZ Foods, a distribution company responsible for bringing healthy products from different parts of the world to Puerto Rico, is looking to expand its business model to help local small businesses improve their reach. “We’re a Puerto Rican company that always wants to distribute the healthiest foods and we believe that with each product we […]
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USDA opens grant program to help expand regional economies
June 17, 2021
U.S. Department of Agriculture (USDA) Rural Development Business-Cooperative Service unveiled a new grant program to help rural communities create good-paying jobs and support new business opportunities in high-growth fields. Rural Innovation Stronger Economy (RISE) is intended to help rural communities identify and maximize local asset and connect to networks and industry cluster within their region. […]
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Consumers exposed to Discover Puerto Rico’s media ‘88% more likely to visit’
June 17, 2021
Numbers from a variety of independent sources suggest that Puerto Rico is seeing the benefits of Discover Puerto Rico’s strategy, with a positive rebound in the island’s local tourism economy and many positive signs pointing to continued recovery on the horizon. Much of the island’s Destination Marketing Organization’s (DMO) success can be attributed to “the […]
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‘El Isleño’ ferry back on rotation to cover Ceiba/Vieques/Culebra maritime routes
June 17, 2021
The “El Isleño” ferry, which was out of rotation for two months in a dry dock in the neighboring island of St. Thomas, has rejoined the Ceiba/Vieques/Culebra maritime route, after getting $1.1 million in repairs, Maritime Transportation Authority confirmed. The heavy-duty vessel has a capacity for 208 passengers and approximately 22 vehicles, MTA Executive Director […]
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27 Puerto Rico credit unions receive $47.3M in funding from US Treasury
June 16, 2021
The US Department of the Treasury today announced the allocation of $47.3 million in relief funds to 27 Puerto Rico-based credit unions, through its CDFI Rapid Response Program (CDFI RRP). The goal is to provide necessary capital for community development financial institutions (CDFIs) to respond to economic challenges created by the COVID-19 pandemic, particularly in […]
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Popular Inc. originated $2.1B in loans under SBA Paycheck Protection Program
June 16, 2021
Popular Inc. announced that, upon completion of the second round of the Paycheck Protection Program (PPP) on May 31, 2021, it had processed nearly 50,000 loans, originating $2.1 billion in both rounds of the program. Popular said during the second PPP round, which began on Jan. 19, it processed approximately 20,500 loans totaling $673 million […]
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