PRIDCO expects to reap benefits of ‘strategic transformation’ in ’22
January 5, 2022
After wrapping up what he called a “complex year” during which many projects were kicked-off and made possible using Puerto Rico Industrial Development Company (PRIDCO) properties, agency Executive Director Javier Bayón said 2022 brings a loaded agenda in favor of Puerto Rico’s economic development. PRIDCO officials spent the better part of 2021 reshaping the agency’s […]
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FEMA assigns $93M to PRIDCO for property reconstruction projects
June 16, 2021
The Puerto Rico Industrial Development Company (PRIDCO, in Spanish) has been assigned $93 million from the Federal Emergency Management Agency (FEMA) to begin reconstruction and revitalization of commercial properties affected after the passage of Hurricanes Irma and María in 2017. PRIDCO Executive Director Javier Bayón-Torres said the allocation will benefit 54 mandatory projects throughout the […]
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PRIDCO has 152 vacant buildings, 378 unused lots in inventory
March 9, 2021
The Puerto Rico Industrial Development Company (known as PRIDCO) has an inventory of more than 500 lots and properties currently vacant across the island, this media outlet confirmed. When broken down, the inventory includes 152 vacant properties with a combined capacity of more than 2.4 million square feet, and 378 unused lots spanning a combined […]
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P.R. gov’t seeks asset manager for PRIDCO-owned properties
August 16, 2019
The Puerto Rico Fiscal Agency and Financial Advisory Authority (known as AAFAF in Spanish) published a Request for Qualifications (RFQ) that seeks to identify qualified parties to manage properties owned by the Puerto Rico Industrial Development Company. The RFQ is meant to identify one or more qualified parties who manage properties, which include lands and […]
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PRIDCO reaches deal to restructure $165M in debt with bondholders
June 14, 2019
The government of Puerto Rico announced it has entered into a restructuring support agreement for $165 million in Puerto Rico Industrial Development Company debt with GoldenTree Asset Management, holder of over two-thirds of the agency’s outstanding revenue bonds. The RSA contemplates a financial restructuring of the PRIDCO Bonds through a Qualifying Modification under Title VI […]
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Gov’t promotes sale, lease of 1,000+ industrial properties in P.R.
May 7, 2018
Dozens of entrepreneurs and businesses participated in the Puerto Rico Industrial Development Co.’s real estate open house held to promote the sale and leasing of properties to turn them into productive, job-generating properties.
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1st phase of PR government’s ‘Assets Map’ unveiled
December 15, 2017
The Puerto Rico government's main economic development agency unveiled Thursday the first phase of the Asset Map, created to attract new investment, create jobs and promote economic development in different regions of the island.
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Neolpharma Group to invest $35M in Caguas expansion
August 29, 2017
Mexican pharmaceutical Neolpharma Group, which began operating in Puerto Rico in 2013, will invest $35 million to expand its Caguas facility, creating 150 new jobs over a 24-month period, company and government officials said.
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SMEs can get up to $50K in marketing, export incentives
August 15, 2017
The Puerto Rico Industrial Development Company announced the start of sessions to inform small and mid-sized businesses getting agency assistance on the availability of special incentives to export and market their goods and services.
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Ponce Health Sciences Univ. invests $1.4M in facility
August 10, 2016
The Ponce Health Sciences University, a fully accredited U.S. medical and health sciences university provides the highest quality graduate education programs available in medicine, clinical psychology, biomedical sciences, and public health, announced Tuesday the groundbreaking expansion of a 6,000 sq. ft. state-of-the art neuroscience research facility.
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SolarTech Universal announces $11M investment
June 10, 2016
SolarTech Universal, a solar energy company, announced Thursday the development of a state-of-the-art automated manufacturing facility for solar panels in the municipality of San Germán.
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PRASA sells $2.8M in excess properties to raise cash
April 20, 2016
The Puerto Rico Aqueduct and Sewer Authority has identified and will be selling three properties in San Juan, Guaynabo and San Juan worth a combined $2.8 million to inject cash into its coffers, agency Executive Director Alberto Lázaro said Tuesday.
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7 local co’s to provide services to Lufthansa Technik
July 21, 2015
Lufthansa Technik Puerto Rico announced Monday that seven local suppliers have been contracted initially to serve several critical needs of the company’s maintenance, repair and overhaul project in Aguadilla.
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Sabrina Bottling expands Luquillo operations
May 29, 2015
Puerto Rican company Sabrina Bottling Group is expanding its operations in Luquillo to increase its production of handmade sangria on an industrial scale, company officials, accompanied by Puerto Rico Industrial Development Company representatives, announced Thursday.
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Puerto Rico among ‘Best to Invest’ in Latin America
May 15, 2015
The Commonwealth of Puerto Rico ranked ninth on the list of best destinations to invest in Latin America and the Caribbean, according to a publication by Site Selection magazine.
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