Puerto Rico CPA Society, EDB ally to identify financing

The Economic Development Bank announced the partnership Thursday. (Credit: The Economic Development Bank announced the partnership Thursday. (Credit:

The Puerto Rico CPA Society and the Economic Development Bank have partnered to, among other things, identify financing sources and services to help promote local products and services companies with the goal of creating jobs and strengthening existing businesses, EDB President Joey Cancel-Planas said Thursday.

Through the “Attracting Benefits for Puerto Rico Entrepreneurs” agreement, the EDB — with the help from other government agencies such as Puerto Rico Trade and Export — will provide training to CPA members on benefits and incentives provided through the Jobs Now Act.

“After the training phase is over, we’ll develop a virtual technological tool that is expected to facilitate the process that small and medium businesses usually conduct to identify incentives for their business,” said Cancel-Planas. Some of these incentives include the energy credit and exemption on real property, among others.

Meanwhile, the CPAs will assist the EDB in preparing the agenda for training sessions and will provide facilities, equipment and resources to offer the workshops.

The collaboration will run through August 2014.

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Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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