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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Head of Puerto Rico’s economic dev’t travels to D.C. for meetings
June 9, 2021
Department of Economic Development and Commerce (DDEC, in Spanish) Secretary Manuel Cidre is heading to Washington D.C. this week to attend to “matters of high interest in favor of Puerto Rico’s economic development,” the agency announced. “It’s a loaded agenda, with key people who can be our allies when it comes to advancing our economic […]
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Op-Ed: How environmental and public health issues threaten the economy
May 4, 2021
When we thought of a pandemic, we never imagined that we would have to experience one in our lifetime. Nor a category 4 hurricane, much less an earthquake. It was an unthinkable scenario for many. In the last 45 months — or three and a half years — Puerto Ricans have lived through all three. […]
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Pierluisi testifies in support of ‘Build Back Better Plan’ before US House Committee
March 25, 2021
Gov. Pedro Pierluisi testified before the US House Committee on Natural Resources and discussed President Biden’s Build Back Better Plan, an infrastructure plan to transform the economy and provide relief to working families. Specifically, the plan will provide assistance to Puerto Rico by supporting a full recovery, a reconstruction of the infrastructure, providing economic development […]
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Estudios Técnicos predicts better economic outlook during 2nd half of ’21
March 3, 2021
In a recent overview of Puerto Rico’s economic panorama, analysis firm Estudios Técnicos predicted that fiscal conditions on the island could improve during the latter half of this year. In the research, the firm acknowledged that Puerto Rico’s economy continues to experience declines, but external factors such as the distribution of the COVID-19 vaccine, the […]
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Op-Ed: Skills to strengthen Puerto Rico’s formal economy
January 11, 2021
In Puerto Rico’s economy, which has a low level of formal labor participation, structural reform must include reducing barriers to employment. Puerto Rico must improve education and develop high-quality worker training programs that empower all residents to reach their fullest potential and enter the labor force. Knowledge, skills, and competencies are the three attributes that […]
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Puerto Rico’s economy faces uncertainty, further decline in ’21
January 4, 2021
After a significant decline stemming from measures adopted to control the COVID-19 pandemic, Puerto Rico’s economy faces further uncertainty as it is again expected to contract in 2021, although less dramatically, according to a projected scenario from economic consulting firm Estudios Técnicos. The firm’s base scenario reflects an economic contraction of 0.9% in 2021, a […]
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Abexus: Puerto Rico’s dependency on federal funds will linger in ’21
December 15, 2020
The year 2021 will be characterized by a strong dependency of federal funds across a number of industries, as the effects of the blow the COVID-19 pandemic dealt to Puerto Rico’s economy, local firm Abexus Analytics concluded in a study. “This next year will be characterized by a strong dependency of federal funds, not just […]
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Survey: Puerto Rican entrepreneurs don’t see quick economic recovery post-COVID-19
December 14, 2020
Challenges such as the grim economic scenario affecting Puerto Rican companies, the heavy tax load, high energy costs, government bureaucracy, and the recent closures due to COVID-19 have local entrepreneurs convinced that recovery will not happen soon. A survey conducted by analysis firm Estudios Técnicos Inc. confirmed that 84.7% of the entrepreneurs polled believe that […]
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Puerto Rico has to ‘resize economy’ on a small scale, plan for reduced population
December 8, 2020
Faced with the reality of an economy that has been reduced by 25% since 2006 and a population in continuous decline, Economist José Joaquín Villamil, from the Estudios Técnicos, Inc. firm, warned that the island’s risk profile “is very pronounced,” and urged planning for markets for the elderly, as well as taking advantage of new […]
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Op-Ed: Plastic recycling and new opportunities for an old problem
November 23, 2020
The world produces 381 million tons of plastic waste every year. That figure is set to double by 2034. The first synthetic plastic was produced in 1907, marking the beginning of the global plastics industry. It was in the 1950’s that global plastic production became large-scale. Over the next 65 years, annual production of plastics […]
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Op-Ed: Unleashing economic freedom to jumpstart growth
August 24, 2020
Puerto Rico’s economy has been in continuous decline for over a decade. The government’s bankruptcy and lack of market access, coupled with the increasing absence of credibility and trust in our rule of law and democratic institutions, have caused an economic free fall that has only been offset by federal assistance for disaster relief and […]
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Op-Ed: Puerto Rico can revive its economy with biomedical production
July 17, 2020
The global economic landscape created by the new coronavirus pandemic could represent an opportunity for Puerto Rico to re-insert itself with prominence into the U.S. medical supply chain. We know that we have the right workforce for the pharmaceutical industry, and the world knows that the financial devastation left by the 2017 hurricanes and now […]
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Puerto Rican startup turns to unconventional data to gauge economic effect of COVID-19
July 8, 2020
Given the lack of up-to-date data for Puerto Rico’s economic activity, local startup Abexus Analytics has turned to unconventional data sources to gauge the performance of the economy during the COVID-19 crisis. The findings are included in a report titled “The Economy is not reserved for Economists,” which takes a technical tour of the issues […]
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Vázquez OK’s new law to help Puerto Rico economy face effects of COVID-19
June 15, 2020
Puerto Rico Gov. Wanda Vázquez signed Ley 57-2020, known as the “Complementary Law to Address the Effects of the COVID-19 Emergency on the Puerto Rican Economy” — a second package of economic measures that are part of the government’s plan to reactivate the economy, support businesses and protect workers. On Sunday, she penned into law […]
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