Acrecent Financial announces equity raise, expansion
February 25, 2014
Acrecent Financial Corporation recently announced the completion of a capital raising transaction to expand its footprint in Central America, Dominican Republic, Colombia and Mexico.
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$292.6M in infrastructure projects in pipeline for ’14
January 29, 2014
The Infrastructure Financing Authority will begin construction this year of about 20 projects, representing an investment of $292.6 million and the creation of 3,504 jobs in Puerto Rico, agency Executive Director Grace Santana said Tuesday.
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Red Mango yogurt chain to open 5 stores in Puerto Rico
December 9, 2013
Red Mango, one of the fastest-growing retailers of all-natural nonfat and low fat frozen yogurt and fresh fruit smoothies, is expanding to Puerto Rico with plans to open five stores in the next six months, through a $1.5 million investment that will create 75 jobs, company officials announced Monday.
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Lilly to invest $200M in Puerto Rico insulin production
November 15, 2013
In response to the growing diabetes epidemic and increasing demand for insulin around the world, pharmaceutical company Eli Lilly and Co. announced Thursday it will invest more than $700 million to enhance its insulin manufacturing capacity in Puerto Rico, France and China, as well as in its Indianapolis global headquarters.
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Restaurants open in Santurce, Isla Verde
November 14, 2013
Metropolitan area foodies have two new options in fine dining with the recent openings of a pair of restaurants featuring very different menus. While newcomer Bodega Las Tablas in Santurce offers authentic Spanish fare, Salt Gastrobar in Isla Verde serves up modernist cuisine, combined with innovative luxury cocktails.
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Comar Inc. sells majority stake to investment firm
November 4, 2013
Private investment firm Graham Partners has acquired a majority stake in Comar Inc., a manufacturer of packaging solutions and liquid dispensing products for the pharmaceutical, diagnostic, health, and personal care markets with plants in New Jersey and Cayey, where it employs 50.
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Puerto Rico start-ups draw investor interest in NYC
October 17, 2013
Startups of Puerto Rico held its first Puerto Rican start-ups presentation to investors in New York City Wednesday, which group officials said expressed an interest in the projects that were unveiled.
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Metropistas on track with $30M highway improvements
September 26, 2013
Two years after taking over the management responsibilities of Puerto Rico’s highways PR-22 and PR-5 from the government, private operator metropistas has already invested $30 million in improvements, company officials said Wednesday.
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AT&T invests $40M in Puerto Rico in 1st half of ’13
August 9, 2013
During the first half of 2013, AT&T has invested more than $40 million in its wireless and wired networks in Puerto Rico, to complete the deployment of new macro cell sites and capacity enhancements across the island as part of its Project Velocity IP initiative — a three-year investment plan announced last fall to expand and enhance its IP broadband networks.
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Puerto Rico governor signs law to shore up investment
August 1, 2013
Gov. Alejandro García-Padilla recently signed the Puerto Rico Investment Companies Law to encourage investment and capital creation through more flexible regulation.
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Wendy’s Puerto Rico buys $12M in local goods annually
June 25, 2013
In its quest for freshness and to uphold high quality standards, Puerto Rico’s Wendy’s franchisee invests about $12 million a year in goods from local farmers and producers.
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Upgrades on the horizon for Marina Puerto del Rey
June 17, 2013
Less than five months after seeking bankruptcy protection, Marina Puerto del Rey in Fajardo has a new owner with big plans on the horizon for its newest Puerto Rico property.
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Economist: Puerto Rico needs $10B-a-year push
April 22, 2013
Puerto Rico’s economy will need about $10 billion in new investments over the next three years to grow by at least 3.3 percent annually and find its way back to more prosperous pre-recession levels. In the absence of such an unlikely windfall, it will take more than a decade to circle back to acceptable levels of progress.
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Courtyard by Mariott Isla Verde getting $11M upgrade
February 6, 2013
The Courtyard by Mariott Isla Verde Beach Resort is turning 10 this year and to mark its anniversary, owner International Hospitality Enterprises is pumping a lot of metal into the property, $11 million to be exact.
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Kaufman: ‘Investing in Puerto Rico creates jobs, moves the economy’
November 29, 2012
Keeping local capital well invested, protected and solid is crucial to Puerto Rico, as it is the only way to create jobs and move the economy, said Gregory Kaufman, newly appointed president of Popular Securities during his first meeting with members of the media Wednesday.
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