Government grants $103M in small biz loans
March 20, 2012
Gov. Luis Fortuño announced Monday the government has granted $103 million in loans through programs run by the Economic Development Bank, under the “Because You Can” initiative that caters to small- and mid-sized businesses and pursues job creation and economic activity.
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Fortuño presses Obama for creation of Section 933A
January 18, 2012
Gov. Luis Fortuño urged Pres. Barack Obama Wednesday to include Puerto Rico in its new national economic plan, stressing that “Puerto Rican jobs are U.S. jobs.”
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Mandatory cargo inspections turn up drugs, no guns
January 10, 2012
Nine months after the Puerto Rico Port Authority launched mandatory cargo inspections at the maritime facilities in San Juan, some 43,000 containers have been processed turning up “substantial drug shipments” but no illegal firearms, Gov. Luis Fortuño said Monday during a tour of the facilities.
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Governor signs prepaid wireless phone registry law
December 28, 2011
The concerns expressed by the island’s wireless carriers and retailers over the potentially harmful effects of regulating the sale of prepaid cellphones on consumers and competition apparently fell on deaf ears, as Gov. Luis Fortuño signed Tuesday a law mandating it.
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Banking veteran tapped to OCIF helm
December 14, 2011
Gov. Luis Fortuño appointed former BBVA executive and banking industry veteran Rafael Blanco to head the Office of the Financial Institutions Commissioner, effective Jan. 1. Blanco will succeed current OCIF chief Alfredo Padilla, who will retire after nine years at the agency.
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Fortuño announces 3rd round of homeowner’s assistance program
October 4, 2011
A week after accepting applications from 1,650 homeowners looking to save their dwellings from foreclosure, Gov. Luis Fortuño announced Tuesday there will be a third round of government assistance to benefit another 1,500 families.
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ACS investing $2.3M in new Guaynabo call center
October 4, 2011
Affiliated Computer Services is investing $2.3 million to establish a call processing center in Guaynabo, that will create more than 500 new jobs, including 80 that have been filled so far, company officials said Tuesday.
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2 plants announce expansions, $17.7M in combined investments
September 29, 2011
Governor Luis Fortuño participated Wednesday in a pair of plant expansion announcements that represent a combined $17.7 million in investments and the addition of more than 200 new jobs in Manatí and Ciales.
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DMO closer to becoming reality with Fortuño’s backing
September 29, 2011
Governor Luis Fortuño’s public support of establishing a Destination Marketing Organization for Puerto Rico took members of the Puerto Rico Hotel and Tourism Association by surprise Wednesday, but they are ready to take him up on his word, the trade group’s president Ismael Vega said.
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Government, private sector sign economic development MOU
September 27, 2011
In what may constitute as one of the most significant unions between the public and private sector in recent years, dozens of private sector and government officials gathered Tuesday to sign a memorandum of understanding to support the Luis Fortuño administration’s efforts to push the Puerto Rico Investment Promotion Act in Washington.
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Economic Development Summit slated for next week
September 20, 2011
Members of the government’s economic team, headed by Economic Development and Commerce Secretary José Pérez-Riera, will host the third edition of the Economic Development Summit, Sept. 27 at the Sheraton Convention Center.
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La Fortaleza to file proposal in Congress to drum up investments
September 19, 2011
Resident Commissioner Pedro Pierluisi will submit in Congress this week the proposed Puerto Rico Investment Promotion Act, which seeks to increase business investment and create jobs on the island.
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19th Housing Congress to build strategies for sector’s growth
September 7, 2011
Housing and banking industry executives who have been working with local and federal government agencies to develop an all-encompassing plan to stimulate activity in a sector that has been battered by the economy will present their proposals and strategies during the 19th Housing Congress taking place Thursday.
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EDB launches ‘Because you can’ financing program
September 7, 2011
Looking to promote entrepreneurship among the island's neediest populations, including recent college graduates, inmates about to complete their sentence and medical professionals participating in the government's health reform program, Governor Luis Fortuño announced Tuesday the start of the new "Because you can" financing program.
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SBA, EDB offer loans to cover Irene-related losses
August 30, 2011
The U.S. Small Business Administration and the Economic Development Bank announced Monday the availability of emergency and disaster loans for small and mid-sized businesses, as well as homeowners, whose property was either lost or damaged by Hurricane Irene.
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