Larger staff at the Department of Economic Development and Commerce has accelerated approvals. #NewsismyBusiness
Three projects are under construction, while some 42 applications have been received. #NewsismyBusiness
While Puerto Rico has a lot to offer for OZ investors, many funds have avoided the island because of challenges.
Puerto Rico-based nonprofit organization Solo Por Hoy Inc. has received a $125,000 grant from the U.S. Department of Housing and Urban Development, as part of a $40 million assignment from the agency to fair housing organizations working to confront violations of the nation’s landmark Fair Housing Act and help end housing discrimination. The grants are […]
Economic Development and Commerce Secretary Manuel Laboy announced the publication for the review by the general public of the regulation that implements the provisions of sections 6070.54-6070.69 of the Opportunity Zones benefits of the Puerto Rico Incentives Code. The regulation establishes the rules, requirements and criteria that will be used for the request and issuance […]
The Guaynabo municipal government is finalizing the details of what will be the new Guaynabo Development Enterprise Corp. to oversee the development of more than $100 million in projects. Guaynabo Mayor Ángel Pérez confirmed that the ordinance creating the entity should be approved this week, after being discussed in public hearings. When it comes online, […]
The Opportunity Zones Priority Projects Committee has established a list of qualified commercial activities by geographical area for the development of priority projects, pursuant to Law 60-2019, as the government revealed. Committee Chair and the government’s CFO, Omar J. Marrero, said this ordinary process is “an important step toward facilitating this investment mechanism and reinforcing […]
Gov. Ricardo Rosselló signed into law today Senate Bill 1147, which establishes the regulatory framework for the development of Opportunity Zones in compliance with the Federal Tax Reform of 2017. The Opportunity Zones created under federal law provide tax benefits to low-income communities in order to achieve their economic development. Puerto Rico, as well as […]
By Joel Cintrón ArbasettiCenter for Investigative Journalism The walk is led by Adrian Beales, an Australian sales director for Lifeafar, a company that offers real estate investment options for people from abroad. Behind him is a group of 20 investors. They left El Convento hotel on Cristo Street in Old San Juan after the second […]
Department of Economic Development and Commerce Secretary Manuel A. Laboy Rivera is taking part in Hannover Messe 2019, an international event in Germany where he will promote Puerto Rico as an investment destination, through the opportunity zones in multiple sectors including research and technology development. “The purpose of the event is to promote investment in new […]
By Joel Cintrón Arbasetti | Center for Investigative Journalism Gov. Ricardo Rosselló’s administration is managing a Community Summit that will take place on March 9 at the Convention Center. “I am aware that the Summit is going to take place, but they have not invited me,” Orlando Serrano, community worker from the Salud neighborhood in […]
The Council is chaired by Secretary of Housing and Urban Development Ben Carson and comprised of 13 federal agencies, including the Small Business Administration.
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