Gov’t revokes 121 tax incentives decrees under Act 22
December 16, 2021
The Department of Economic Development and Commerce (DDEC, in Spanish) has revoked 121 tax incentive decrees to Act 22 (now Act 60) beneficiaries who failed to submit annual reports to the agency, as the law required. Carlos Fontán, director of the DDEC’s office of business incentives in Puerto Rico, said in April, the agency began […]
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Invest Puerto Rico launches $4.7M rebranding campaign
December 16, 2021
Invest Puerto Rico (InvestPR), the island’s economic development organization, announced the launch of a new brand, a redesigned website and the new “Game-Changers, Welcome Home” campaign, an $4.7 million effort to “elevate the island as a business destination.” The media investment comes from an allocation of funds under the Department of Housing’s CDBG-DR program “dedicated […]
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10K New Year’s Eve revelers expected at Puerto Rico Convention Center festivities
December 16, 2021
Puerto Rico’s New Year’s Eve countdown at the Convention Center District is expected to draw as many as 10,000 revelers, who will be required to be fully vaccinated against COVID-19 to participate, government officials said. In a press conference, Gov. Pedro Pierluisi and Convention Center District Authority Executive Director Mariela Vallines, said the “From Puerto […]
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Mastercard partners with Puerto Rico Food Bank to deliver 4K ‘Mochilas Alegres’
December 16, 2021
Mastercard is joining forces with the Puerto Rico Food Bank to combat hunger on the island and anticipates it will deliver some 4,000 “Mochilas Alegres” by the end of the year. For every five contactless transactions, Mastercard will donate a “Mochila Alegre” with food supplies to a child in need when school cafeterias are closed […]
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3 Puerto Rico destinations make Travel Lemming’s list of ‘50 Best Places to Travel in ’22’
December 16, 2021
Three of the world’s 50 best places to travel in 2022 are in Puerto Rico, according to Travel Lemming. Aguada, Utuado, and Guánica all make appearances on the online travel guide’s annual list of emerging destinations. The list was selected by Travel Lemming’s team of 15 travel writers and editors, with an emphasis on destinations […]
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Puerto Rico Labor Secretary stepping down Dec. 31
December 15, 2021
Following a year and a half at his post as Puerto Rico Labor Secretary, Carlos Rivera is stepping down for personal reasons effective Dec. 31, he confirmed in an interview with News is my Business. “I’ll be honest when I say that I had to manage an emergency and I wasn’t going to turn my […]
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Puerto Rico Labor Dept. investing $22M on new online jobless benefits platform
December 15, 2021
The Puerto Rico Labor Department will implement a new virtual platform for the island’s unemployment program — a $22 million project for which it has hired the firm Geographic Solution to work in collaboration with the Puerto Rico Innovation and Technology Services (PRITS) office. The new platform will be developed in phases and will be […]
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Condado Plaza Hilton to reopen casino following $33M investment
December 15, 2021
The Condado Plaza Hilton will get back into the casino business, with the projected opening of a new 15,000 square-foot gaming space that will house 300 slot machines and dozens of gaming tables. The Condado Plaza Hilton, which shuttered its casino in 2015, got its endorsement from the Puerto Rico Gaming Commission, putting it one […]
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Punta Borinquen Resort reopens in Aguadilla after $8.6M investment
December 15, 2021
The Punta Borinquen Resort has reopened in Aguadilla after substantial renovation of the facilities, through an investment of $8.6 million, hotel officials confirmed. The inn is located on the grounds of the former Ramey Base just minutes from the Rafael Hernández International Airport and its operation generates nearly 200 direct jobs in the western region. […]
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Puerto Rico Society of CPAs forum focuses on cybersecurity
December 15, 2021
To raise awareness and put a spotlight on the impact that cyber-crimes have on the daily operations of a company, the Puerto Rico Society of CPAs (CPAs) recently hosted the 10th edition of its cyberforum focusing on having a cyber security culture. “Facing the new year 2022, we must strengthen cybersecurity knowledge and strategies in […]
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SBA Puerto Rico graduates 29 co.’s from emerging leaders program
December 15, 2021
The U.S. Small Business Administration Puerto Rico & US Virgin Islands District graduated 29 companies from its Emerging Leaders program for Puerto Rico entrepreneurs, completing the fifth cycle of the mini-MBA training series. Virtual cohorts were offered to entrepreneurs across the island, with virtual cohorts based in San Juan and, for the second time, Ponce. […]
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Coalition vying for $100M in ‘Build Back Better Regional Challenge’ funds
December 14, 2021
The Northwestern Puerto Rico Bio Manufacturing Cluster, led by the Department of Economic Development and Commerce (DDEC, in Spanish), is in the running for $100 million in funds available through the US Economic Development Administration’s “Build Back Better Regional Challenge.” The federal agency confirmed that 60 finalists have been short-listed for the program that has […]
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San Juan to invest $210M over 36 months to revitalize infrastructure
December 14, 2021
San Juan Mayor Miguel Romero unveiled a lofty agenda to develop and revitalize the city’s infrastructure, investing $210 million over the next 36 months. The works will be developed through grants obtained from the Federal Transit Administration, the Federal Emergency Management Agency (FEMA), CDBG-DR funds under the City Revitalization program, as well as local funds, […]
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Labor Dept. transfers 19 ‘Pa’ mi Gente’ kiosks to promote self-employment
December 14, 2021
The Puerto Rico Labor Department announced the transfer of 19 mobile kiosks to the same number of municipalities in Puerto Rico’s southern, eastern, and western flanks to boost self-employment and economic activity, agency Secretary Carlos Rivera confirmed. The “Pa’ mi Gente” program was created in 2010 and ran through December 2016 under the Labor Department. […]
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Triple-S Management stockholders OK merger with GuideWell
December 14, 2021
Triple-S stockholders approved the merger with GuideWell Mutual Holding Corporation, a health solutions company and parent of Blue Cross and Blue Shield of Florida, Triple-S Management Corp. announced. The approval comes nearly four months after the companies announced the deal through which GuideWell will acquire all the outstanding shares of Triple-S Management common stock for […]
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