PRIDCO speeds up demolitions to attract new manufacturing investment
The Puerto Rico Industrial Development Co. (PRIDCO) has begun demolishing its fifth property this year as part of a plan to clear 33 deteriorated industrial structures across the island to prepare sites for new investment.
The latest demolition, at the El Vigía Ward Industrial Park in Arecibo, involves a 22,584-square-foot building that has been out of use for more than eight years because of damage from hurricanes Irma and Maria, earthquakes and vandalism. The $145,819 project began earlier this week.
“We are aggressively transforming Puerto Rico’s industrial infrastructure,” said Secretary Sebastián Negrón-Reichard of the Economic Development and Commerce Department. “These demolitions are part of our strategy to position Puerto Rico as the ideal destination for reshoring. We’re anticipating industry needs to create opportunities for economic growth and job creation.”
The Arecibo work follows demolitions in Naguabo, Cabo Rojo and Coamo, as well as the nearly completed removal of old tuna boats in Mayagüez. Properties in Moca and Quebradillas are next.
Gov. Jenniffer González called the effort a “firm step toward eliminating aging infrastructure and building state-of-the-art facilities to position Puerto Rico for a prosperous future.”
PRIDCO Deputy Executive Director Carlos Ríos said the projects remove safety hazards, deter illicit activity and prepare sites for redevelopment.
“Our goal is to clear all buildings whose structural integrity is compromised and whose repair is not viable, and to replace them with modern industrial spaces that promote economic activity,” he said.
Negrón-Reichard said each demolition “represents both the recovery of an asset and the chance for companies to write Puerto Rico’s next success story.”
