Eagle Industries is spreading its wings in Lares, with the addition of 300 new jobs through a planned expansion that will result in retaining the same number of workers at its Mayagüez operation, government and company officials said Monday.
Hurricane Irene dealt a $17.8 million blow Puerto Rico’s agriculture as it unleashed its strong wind and dumped inches of rains on the island since Sunday, ripping up or drowning acres of plantains and fruit and vegetable crops, government officials said Tuesday.
Contrasting Puerto Rico’s current economic conditions with those of the U.S. mainland’s, Gov. Luis Fortuño said the “U.S. is starting to suffer the consequences of not acting immediately” to its escalating fiscal troubles.
The austerity measures put in place over the past two years have reduced Puerto Rico’s deficit and spurred economic growth, Gov. Luis Fortuño and his Economic Development and Commerce chief said in separate speeches offered on Wednesday’s session of the National Leutenant Governors Association convention taking place in San Juan.
Gov. Luis Fortuño will be signing a six-month extension to the 2011 Housing Stimulus law today, giving would-be homebuyers the chance to take advantage of exemptions on closing costs and taxes.
Gov. Luis Fortuño promised members of the Puerto Rico Chamber of Commerce that he would be submitting legislation to eliminate commercial property taxes placed on unsold inventory, to improve the local business climate.
Discount airline JetBlue announced the start of two new routes out of Luis Muñoz Marín International Airport, officially dethroning American Airlines as the island’s largest carrier.
Gov. Luis Fortuño met with President Barack Obama briefly Tuesday during the latter’s visit to the island, discussing the progress of initiatives to boost the economy, strengthen public safety and establish a “fair and representative process to solve the status problem.”
During his participation during the last day of the Puerto Rico Manufacturers Association’s 83rd annual convention Saturday, Gov. Luis Fortuño signed an executive order to create an advisory council on manufacturing issues, that will have participation from the public and private sectors.
One of the great challenges for Latin American and Caribbean countries is solving their energetic needs now and in the future. While turning to alternate energy sources is a virtual requirement to address demand, Álvaro Uribe, former President of Colombia, believes building an “interconnection circuit” in the region is another feasible way to go.
Gov. Luis Fortuño signed the law approving a $304 million bond issue to finance several infrastructure projects, mainly road improvements, planned throughout the island.
Gov. Luis Fortuño’s administration has three months to show Moody’s Investors Service that it is taking enough — and correct — action to address the Commonwealth Retirement System’s $28 billion funding shortfall to avoid a possible downgrade of its current A3 rating.
Gov. Luis Fortuño announced Wednesday the appointment of Ivonne Otero Guzmán as Economic Development Bank president, succeeding banker Lizzie Rosso who resigned to the post late last month to return to the private sector.
Gov. Luis Fortuño announced Tuesday his administration’s proposed $9.26 billion budget for fiscal 2012, which is $110 million higher than the one currently being spent that expires June 30.
The government’s economic team, headed by Gov. Luis Fortuño, told Puerto Rico investors on Friday that while the island’s economy will not see growth until 2012, it is on an improvement track.
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