WASHINGTON — Veteran Dominican diplomat Roberto B. Saladín, an early champion of the “twin plant” program that for years linked the Dominican Republic and Puerto Rico economically, accepted a public service award Friday night from the Greater Washington Hispanic Chamber of Commerce.
The biopharmaceutical industry is a major driver of Puerto Rico’s social and economic development, not just for the 86,000 direct and indirect jobs its creates, but for the multiplier effects it has upon other sectors.
Shooting down reports circulated Tuesday saying it planned to close its Guayama operation, pharmaceutical company Lilly del Caribe announced and launched a voluntary severance program for eligible employees working at the site.
Medical device manufacturer Edwards Lifesciences will be investing $34 million to expand its Añasco facility, creating 263 jobs and retaining 52 existing ones, company and government officials said Tuesday.
Tech giant Hewlett-Packard — like many other multinational companies — has experienced its share of fierce competition that, coupled with a suffering economy, has elicited massive lay-offs and a significant restructuring in recent years.
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector rose to 59.0 in May, remaining above the threshold value of 50 for the ninth consecutive month, suggesting an expansion in the manufacturing.
In an effort to boost awareness about investment opportunities in Puerto Rico, the Economic Development and Commerce Department and the Venezuelan Association of Entrepreneurs, Executives and Professionals presented before a large group of Venezuelan executives the “Puerto Rico: Investment Opportunities” seminar, focusing on the manufacturing and banking sectors as those with the greatest economic potential.
The President Barack Obama administration announced Tuesday the start of the third round of the $26 million multi-agency “Advanced Manufacturing Jobs and Innovation Accelerator Challenge” to foster innovation-fueled job creation through public-private partnerships.
The Bumble Bee tuna cannery in Mayagüez will be closing its operation after 50 years of doing business in Puerto Rico, leaving about 260 people jobless, News is my Business learned.
Mass.-based Haemonetics Corp. announced over the weekend it has entered into a definitive agreement to acquire Pall Corp.’s blood collection, filtration and processing product lines, including its manufacturing facilities in California, Mexico, Italy and a portion of Pall's assets in Fajardo.
Resident Commissioner in Washington Pedro Pierluisi said Thursday that H.R. 3020, which proposes adding a new section to the U.S. Internal Revenue Code to drum up local investments, is facing several challenges in Congress.
The global currents and economic challenges of the private sector, which have generated a sort of pessimism that focuses on only one part of the current reality, have significantly affected Puerto Rico’s manufacturing sector, Economic Development and Commerce Secretary José Pérez-Riera said.
The Puerto Rico Pharmaceutical Industry Association raised three specific objections to the recently released study evaluating quality results in drug manufacturing plants outside the U.S. mainland, saying, among other things, the findings were “highly questionable.”
Drugs produced in U.S.-owned and operated pharmaceutical manufacturing plants in Puerto Rico are more likely to have quality problems than those produced by the same firm in a matched plant on the mainland, a study released Tuesday by Ohio State University's Fisher College of Business.
The island’s declining coffee industry got a shot in the arm Wednesday with the opening of Puerto Rico Coffee Roasters’ new $15 million roasting and distribution facility in Ponce that pursues revitalizing the sector and increasing manufacturing capacity to export the product.
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