Planning Board OKs $3B in location consultations in ’14
The Puerto Rico Planning Board informed that at the end of 2014 it had approved 52 location consultations, representing a future investment of $3 billion and the potential to create 25,000 jobs.
The location consultations were approved in the areas of commerce, industry, housing, renewable energy, tourism and recreation, among others.
Of the approved consultations, 18 belonged to the retail/commerce sector, representing a potential investment of $115 million and 2,294 jobs. In addition, five residential developments were authorized for an investment of $33 million and some 881 jobs.
In the tourism sector, the Planning Board approved two location applications, with an associated investment of $1.1 million and the potential to create 153 hotel rooms and generate 35 jobs.
“The approved consultations are a great investment for economic growth in Puerto Rico, creating jobs in different sectors,” Planning Board President Luis García-Pelatti said.
Industrial projects approved represent a potential investment of $3.8 million and 78 jobs, the agency said. They are located in the municipalities of Vega Baja, Arecibo, Moca, Quebradillas, Salinas, Juana Diaz, Guayama and San Sebastián. The permits include the lateral expansion of the Juncos landfill and the dredging and new dock planned by maritime cargo company Crowley in San Juan.
Meanwhile, five renewable energy projects were approved in the towns of Moca, Quebradilla, San Germán, Humacao, Manatí, Arecibo, Vega Baja and Salinas representing an investment of $744 million, creating a combined 657 jobs.
Furthermore, five institutional development projects were approved, including the Sanctuary of the Catholic Church in San Juan, a new hospital in Trujillo Alto, the expansion of medical facilities in Gurabo, a new emergency room in Corozal and a new Sor Isolina Ferré development center and therapy in Guayama. The projects represent a combined investment of $74 million and 862 jobs, the agency said.
In the recreational sector, the Planning Board approved four consultations for a $26.1 million investment and 284 jobs in the towns of San Germán, Lajas, Guayama and Arroyo.
Rounding out the list of approvals are six mixed-use developments projects, with an associated investment of $1.9 million and 19,819 jobs, and another two projects worth $70 million, and representing 289 jobs. The Planning Board also awarded 166 consultations for transactions involving lands to be used for public improvements, maintenance and for Honeywell’s future high-tech labs in the Moca Industrial Park.