Puerto Rico Tourism Co. doles out $125K in agrotourism incentives
April 21, 2021
The Puerto Rico Tourism Co. met with the 25 companies certified under its agrotourism program to hand each one a $5,000 incentive check to promote business continuity, for a total of $125,000. During a meeting at Hacienda Cascada in Aguas Buenas agency Executive Director Carlos Mercado also unveiled a new promotional campaign that focuses exclusively […]
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Puerto Rico Ports Authority completes $695K in Isla Grande airport overhaul
April 21, 2021
As part of its capital improvements program, the Puerto Rico Ports Authority completed some $695,000 in improvements to the passenger terminal of the Fernando Luis Ribas Dominicci regional airport in Isla Grande, which suffered severe damage from Hurricane María in 2017, the agency’s Executive Director Joel Pizá-Batiz announced. The improvements called for repairs of indoor […]
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Volvo distributor Martí kicks off ‘21 #1-ranked in LatAm, with 28% of total sales
April 21, 2021
VV Autos, owned by Dominican Republic-based Martí — and exclusive distributor of the Volvo brand in the neighboring island nation, Puerto Rico and Panamá — has been ranked at the top of its class in Latin America, where sales have been growing. So far this year, the company has reported a 33% year-over-year growth during […]
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Puerto Rico Health Dept. proposes $300 fine on travelers arriving without negative COVID-19 test
April 20, 2021
Puerto Rico Health Secretary Carlos Mellado has signed a new Administrative Order that effective April 28, will impose a $300 fine on all travelers who fail to present a negative COVID-19 test within 72 hours prior to their arrival to the island. However, he said the fine will be removed once the traveler submits the […]
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Puerto Rico’s average yearly salary hovers at $25,332, study shows
April 20, 2021
Puerto Rico’s average worker makes about $25,332 a year, according to a study by the Census Information Center of the University of Puerto Rico in Cayey, based on numbers from the US Census for 2017. The Center’s Director, Economist José Caraballo-Cueto, explained that the most recent economic Census provides data on a cross-section of private […]
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Community water supply systems to be outfitted with redundant power
April 20, 2021
The Puerto Rico Community Foundation has launched the first phase of its project to establish redundant power for the island’s community water supply systems, which will guarantee uninterrupted access to running water in rural communities during natural disasters. The project entails a $25 million grant, issued through the Federal Emergency Management Agency’s risk mitigation program, […]
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Economic Dev’t postpones restaurant industry job fair
April 20, 2021
Less than a week after announcing it, the Department of Economic Development and Commerce has postponed plans to host a job fair in collaboration with the Puerto Rico Restaurants Association to fill 3,000 sector jobs. The event has been pushed back indefinitely in response to the uptick in COVID-19 cases in Puerto Rico, and the […]
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Furniture manufacturer DNG Inc. planning $500K expansion
April 20, 2021
Local wood, particulate panel and PVC furniture factory, DNG Inc. in San Sebastián, is planning to invest $500,000 to expand its plant and also consider the possibility of exporting its products to the US mainland. The information was revealed during a visit by Department of Economic Development and Commerce Secretary Manuel Cidre, who was on […]
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Sun West Mortgage launches conventional non-conforming loan program
April 20, 2021
Sun West Mortgage Company has introduced its conventional non-conforming loan program, becoming the only US based mortgage bank to offer it in Puerto Rico, and the first one to launch this product in more than 15 years, it confirmed. The mortgage company, which marking its 10th anniversary of operations on the island, provides technology solutions […]
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CBP seizes $437K-worth of counterfeit Viagra pills, unsafe motorcycle helmets
April 19, 2021
U.S. Customs and Border Protection Officers and Import Specialists in the Port of San Juan recently seized 1,869 counterfeit Viagra pills and 1,620 half-face motorcycle helmets that did not comply with National Highway Traffic Safety Administration regulations, it announced. Combined, the confiscated items had a street value of $436,649, the agency confirmed. “Consumers and small […]
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Puerto Rico’s opportunities in int’l markets to be discussed in online seminar
April 19, 2021
The challenges and opportunities that Puerto Rico is facing to be able to competitively insert itself in international markets will be the topic of an online seminar tonight at 7 p.m. that is open to the public. Department of Economic Development and Commerce Secretary and Gloria Viscasillas-Aponte, vice president of Economic Development Programs at Banco […]
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Casa Febus opens 3rd store in Florida’s Waterford Lakes Town Center
April 19, 2021
Casa Febus, the Puerto Rico-based home décor boutique, recently opened its third retail location in Orlando, Florida, following a $150,000 investment. The 6,060 square foot store located in Waterford Lakes Town Center will provide home decor lovers “a boutique shopping experience at affordable prices.” In 2015, Casa Febus began expanding its operations to Florida, with […]
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Puerto Rico’s banking industry reflects strength in liquidity, capital
April 16, 2021
The Financial Stability Index for Puerto Rico’s banking industry, prepared by Estudios Técnicos, Inc. (ETI), shows that the industry’s liquidity and solvency remain strong despite the current economic environment. “The financial stability index for Puerto Rico’s banking industry has recovered after declining from 0.64 in the fourth quarter of 2019 to 0.54 in the first […]
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$1M Lejos Eco Retreat hotel breaks ground in Vieques
April 16, 2021
The Puerto Rico Tourism Co. announced that a sustainable hotel, Lejos Eco Retreat, will be opening in Vieques this fall. The hotel entails a $1 million investment and will create a total of 25 jobs, 20 in construction and five in operations, officials said. The eco-friendly resort will feature 13 modern units, a campsite, and […]
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Puerto Rico top destination among online searches year-to-date, says Google
April 16, 2021
People across the globe are itching to travel once again, and based on Google searches, Puerto Rico is “the fastest-growing destination in the world,” Discover Puerto Rico, the island’s Destination Marketing Organization (DMO) confirmed. According to recent travel search data calculated by Destination Insights with Google, which monitors travel trends, Puerto Rico is the top […]
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