Puerto Rico secures $90M in manufacturing, 250 new jobs
Puerto Rico will gain more than $90 million in new investment and more than 250 jobs through two projects in advanced medical manufacturing, Gov. Jenniffer González and Economic Development and Commerce Secretary Sebastián Negrón-Reichard announced.
Terumo Puerto Rico inaugurated a $45 million plant in Caguas that will add 180 jobs to its existing workforce of 375 employees. The facility will increase production of the Angio-Seal Vascular Closure Device, a Class II device used in vascular procedures.
“Puerto Rico is a consolidated hub for advanced manufacturing, backed by decades of experience and, above all, by a highly qualified workforce,” González said. “Today we celebrate the expansion of companies like Terumo, which reaffirm their commitment to growing on the island.”
Terumo received more than $6 million in government incentives and nearly $2.3 million in federal training funds under the Workforce Innovation and Opportunity Act. That support financed apprenticeships for 41 employees in advanced manufacturing.
“This special occasion marks a new chapter in our history as a company and ally of Puerto Rico’s progress,” said Rafael Benítez, senior director of Terumo Puerto Rico, noting the modern facility is nearly three times larger than its previous site.
Millicent enters Fajardo
In Fajardo, Millicent Manufacturing PR LLC will invest $45.5 million to relaunch the former Teva Pharmaceuticals plant, becoming the first pharmaceutical company in 15 years to establish new operations on the island. Focused on women’s health treatments, the project will create 73 jobs initially, with plans to reach 100 by fiscal year 2030.
“This move will have a positive multiplier effect on the economy of the island’s eastern region,” González said.
Millicent will receive $4.1 million in incentives under the Puerto Rico Incentives Code for job creation, machinery, equipment and research credits.
“Puerto Rico offers us the ideal ecosystem for growth: highly trained talent, institutional support and a solid infrastructure,” said Frank Rodríguez, president of Millicent Manufacturing PR. “We’re excited to begin operations in Fajardo and are confident this plant will expand access to innovative women’s health treatments from the island to the world.”
