MN Investments gets $5M financing from Parliament Capital to grow in Puerto Rico
June 8, 2021
MN Investments, LLC, a real estate company dedicated to the acquisition, renovation and management of multifamily properties, announced that it closed a $5 million financing facility with Parliament Capital Management, LLC that will allow the acceleration of its growth and expansion in the market. Currently, the company has a portfolio of 220 apartment units throughout […]
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Passenger traffic at LMM airport exceeds pre-pandemic levels for May
June 8, 2021
Passenger traffic at Puerto Rico’s main air hub, the Luis Muñoz Marín International Airport (LMM), bounced back in May, when it exceeded pre-pandemic results for the same month in 2019. In its most recent monthly report, Grupo Aeroportuario del Sureste (ASUR), the parent company of Aerostar — which operates the LMM — disclosed that the […]
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Wovenware lands federal patent for synthetic data generation method
June 8, 2021
Wovenware, a nearshore provider of Artificial Intelligence (AI) and digital transformation solutions, announced that the US Patent and Trademark Office has issued it Patent No. 11,024,032 B1. The patent addresses the company’s system and method for generating synthetic overhead imagery based on cluster sampling and spatial aggregation factors of existing data-sets. Wovenware uses the patented […]
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USDA seeks grants applicants to build and improve rural water infrastructure
June 8, 2021
The US Department of Agriculture (USDA) announced that it is accepting Fiscal 2021 applications for grants to create a revolving loan fund to build and improve water and wastewater disposal systems in rural areas. The USDA is making funds available through the Water and Wastewater Projects Revolving Funds Program, said Luis R. García, acting state […]
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Suiza Dairy expands operations, adds to production line to Aguadilla plant
June 8, 2021
Dairy producer Suiza Dairy announced an expansion of its manufacturing plant in Aguadilla to add new state-of-the-art equipment to integrate new products, company executives said. The new products are the result of a two-year expansion at Suiza Dairy’s Aguadilla plant, known as Planta Vida, where in 2019 it unveiled a $42 million upgrade. Since then, […]
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Acai Express investing $2M+ to double its Puerto Rico footprint
June 7, 2021
Acai Express announced plans to significantly expand its locations in Puerto Rico during 2021, to more than double the number of units operated under the brand at the beginning of last year. The company started 2020 with a total of 20 locations. The local franchise has already opened 31 locations in Puerto Rico with the […]
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Puerto Rico community opts for solar-plus-storage resiliency solution
June 7, 2021
[COMMENTARY] The poor condition of Puerto Rico’s electric grid is common knowledge. After Hurricane María struck in 2017, many communities lost power for months. This long outage led to almost 3,000 deaths and an exodus of residents. Still recuperating from the aftermath of María, the southern part of the island was hit by a major […]
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Op-Ed: The great danger of an anti-tourist sentiment, with racist overtones
June 7, 2021
During the past 12 months, I have observed unexpected reactions and behaviors in our people, which may indicate signs of an anti-tourist sentiment with some racist overtones. While there are reports of irreverent and reckless behavior from young African American visitors, our expressions and comments on the news and social media have gone far beyond […]
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El Señorial Plaza sold for $20.4M to undisclosed buyer
June 4, 2021
Retail Value Inc., owner of El Señorial Plaza in San Juan, announced it closed the sale of the shopping center on June 3, for $20.4 million. The buyer was undisclosed, and RVI said the sale amount is “prior to closing costs, prorations and other closing adjustments.” The company used the net proceeds to repay mortgage […]
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$277M+ in FEMA funds driving recovery efforts in Puerto Rico’s southern region
June 4, 2021
There are currently 168 projects underway to rehabilitate the areas and structures that were affected by the 2020 earthquakes along Puerto Rico’s southern region, the Federal Emergency Management Agency (FEMA) said. Projects include allocations for the municipalities of Mayagüez and Ponce. About $185,000 from the agency are earmarked to repair the Castilo Serralés, the Salazar […]
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June 4, 2021
Allied Universal, a Santa Ana, CA-based security and facility services company, is seeking to hire 100+ security professionals in Puerto Rico. The company is hosting hiring events on June 5 and June 12 from 10 a.m. to 2 p.m. at the following five locations: Plaza del Norte in Hatillo; Plaza del Sol; Plaza Río Hondo; […]
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USDA opens grant application for funds to repair rural community housing
June 4, 2021
US Department of Agriculture Deputy Under Secretary for Rural Development Justin Maxson announced that the agency is seeking applications for grants to make housing repairs for low- and very-low-income rural residents. The grants are being provided through the USDA’s Housing Preservation Grant program. Luis R. García, acting State Director for Puerto Rico said eligible applicants […]
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Green House opens cannabis dispensary in Ponce with certification event
June 4, 2021
Green House, the recently inaugurated medical cannabis dispensary in Ponce, will be providing orientation and facilitating the certification process for patients as part of a special opening offer on June 6, company officials announced. Through its Canna Facilitator program, Green House’s specialized staff will be offering orientation services, medical recommendations, certification from the Puerto Rico […]
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Puerto Rican consumers embrace technology during pandemic
June 3, 2021
In the past year, 79% of Puerto Ricans have made online purchases, which places the island among the top five most active places when it comes to buying through the internet, according to “The Connected Consumer,” a study commissioned by the Chamber of Marketing, Industry and Food Distribution (MIDA, in Spanish). The analysis, which is […]
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Espacios Abiertos: OBoard cuts only essential services, leaves tax privileges intact
June 3, 2021
The Financial Oversight and Management Board for Puerto Rico has spent five years cutting essential services, while staying away from the “deep pocket” of tax incentives that represent 67.7% of the total expenses related to the commonwealth’s General Fund, even though whether they produce some economic or social benefit is unknown, according to an analysis […]
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