America Cruise Ferries to invest $15M in new facilities at Port of San Juan
July 6, 2018
America Cruise Ferries, the company that connects Puerto Rico and the Dominican Republic by sea, has signed a letter of intent with the Puerto Rico Ports Authority to invest some $15 million to redevelop Piers 15 and 16 at the San Juan port.
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Popular gets regulatory clearance to buy Wells Fargo’s auto finance business in P.R.
July 6, 2018
Nearly five months after announcing its intention to buy Wells Fargo’s auto lending business in Puerto Rico — which does business as Reliable Auto — Popular Inc. confirmed it has completed the regulatory clearance process needed to close the deal.
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U.S. Department of Commerce invests $1.6M to support business growth in P.R.
July 6, 2018
U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the Puerto Rico Trade and Export Company.
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Entrepreneur St. Clair formally unveils plans for $70M P.R. Film District
July 3, 2018
Veteran traveler and investor Keith St. Clair formally announced his plans for the first phase of what will become the Puerto Rico Film District that is set to be completed as early as December 2019 behind the Puerto Rico Convention Center.
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Ángel Ramos Foundation to award $300K to 6 P.R. community groups
July 3, 2018
The Ángel Ramos Foundation will award $300,000 in grants, split equally among six Puerto Rico nonprofits that went above and beyond their duties to help communities after Hurricanes Irma and María.
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Packers Provision launches new division — Packers Fresh Solutions
July 3, 2018
With the goal of continuing to provide solutions in service and variety of products, Packers Provision has expanded operations to incorporate a new fresh produce division, Packers Fresh Solutions.
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‘Caguas Compite’ certifies 55 entrepreneurs in its 7th annual edition
July 2, 2018
The 7th annual “Caguas Compite” business incubation program concluded with a graduation rate of 85 percent, one the highest percentiles since the initiative began in 2012, town officials confirmed.
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CooPACA invests $1.5M in new tech platform to benefit members
June 28, 2018
The Arecibo Credit Union has invested some $1.5 million in a new technology platform that will add new services, improve customer experience, streamline banking transactions and provide new protections to customer data to make it safer, company President William Méndez-Pagán said. The migration of operations to the new platform will be completed by July 3, […]
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KraftHeinz awards Colomer & Suárez ‘Top Distributor of the Year’
June 28, 2018
KraftHeinz has awarded Puerto Rican consumer products distribution company Colomer & Suárez, its “Top Distributor of the Year” recognition in the Latin American region. KraftHeinz also recognized two Colomer & Suárez processes that have contributed to the success of their brands in Puerto Rico: “Implementation Award,” for their effective media strategy (documentation, internal communication, etc.); […]
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PetSmart re-opens 2 stores in P.R. closed after Hurricane María
June 28, 2018
PetSmart announced the re-opening of its Caguas and Carolina stores, two locations that were greatly impacted when Hurricane María struck last September. Both stores suffered significant structural damage that required nearly eight months to repair, the retailer said. “It has been a long road to recovery, not only for PetSmart, but for the entire island,” […]
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Espacios Abiertos: Earned Income Tax Credit is ‘good public policy’
June 28, 2018
An Earned Income Tax Credit, an issue that is taking center stage as part of the discussion of the Puerto Rico tax reform, “does justice to workers” and is “good public policy,” Cecille Blondet, director of nonprofit Espacios Abiertos, said. Upon unveiling a study it recently commissioned from Economist María E. Enchautegui, Espacios Abiertos believes […]
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EPA Plans to award $316K to P.R. for beach water quality monitoring
June 28, 2018
As tourism continues to recover in Puerto Rico after two devastating hurricanes, the U.S. Environmental Protection Agency plans to award up $316,000 to the Puerto Rico Environmental Quality Board to help protect beachgoers, contingent upon the number of eligible recipients that apply for grant funds nationwide and the availability of funding. “Enjoying the beach is […]
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Evertec gets nod for support to P.R. businesses after Hurricane María
June 28, 2018
The Puerto Rico Chamber of Commerce (CofC) bestowed its President’s Special Award to Evertec Inc. for the “outstanding and timely support offered to the business sector after Hurricane María.” The recognition was awarded during the CofC’s gala dinner, which included a special certificate by Puerto Rico Resident Commissioner Jennifer Gonzalez, for Evertec’s work. “We at […]
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Study: More U.S. buyers looking at P.R. for real estate bargains
June 27, 2018
Hurricane María severely affected the Puerto Rico real estate market, where home prices dropped to an eight-year low, a scenario that is drawing a growing interest from stateside buyers looking for property bargains, according to a study. Point2 Homes, a real estate website for U.S. mainland residents and Canadians looking to buy property on the […]
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The Federal Communications Commission’s Wireline Competition Bureau has extended the deadline for filing comments and reply comments in response to the “Uniendo a Puerto Rico Fund” and the “Connect USVI Fund” until July 26, and Aug. 8, respectively. The original deadlines to file comments were July 5 and July 18, respectively. The FCC is seeking […]