Puerto Rico’s new Plan for Economic Development is anchored on three pillars that work together towards sustained, long-term growth.
Here’s an in-depth look at how these measures will position Puerto Rico as a unique location for business and investment:
Devised as an incentive for companies to establish and expand their island operations, the Economic Development Incentives Act is a series of tax credits for creating jobs and funding research and development. Learn more about our incentives for manufacturing.
Through the Tourism Development Act, the government offers an attractive package of tax credits and exemptions to promote the construction and operation of world-class tourism projects. Learn more about our incentives for touristic projects.
The Commerce and Export Company (CCE) develops, informs, guides, promotes, and offers services to businesses or individuals for local or international commerce. Through the Incentives for Employment Act, this entity encourages the development of small and medium-sized businesses (PyMEs).
The Company promotes entrepreneurship and the exportation of local goods and services, in order to transform Puerto Rico into an exterior commerce hub for the Caribbean, Latin American, and Hispanic niches in the United States.
Roosevelt Roads Redevolpment Authority
The former Roosevelt Roads Navy base will be transformed into a diverse community featuring residences, schools, hospitals, tourist attractions and a state-of-the-art port that will work together to reignite the economy of Puerto Rico’s eastern region. Learn more.
Port of the Americas
Taking advantage of Puerto Rico’s privileged geographic position along the Mona Passage, an important shipping route between the Atlantic Ocean and the Panama Canal, the Port of the Americas will have the capacity to serve Post-Panamax and Panamax vessels and will serve as a world-class international transshipment port for carrying out value-added activities. Learn more.
Science, Technology and Research Trust
Established under Act 214, this Trust stimulates innovation, technology commercialization, and the creation of high-tech jobs in industry sectors such as life sciences, alternative energy, environmental sciences, agriculture, computer science, information technology, medical devices, and aeronautics. Learn more.
Tax Incentives for Individuals Relocating to Puerto Rico
The Individual Investors Act will attract new residents and new investments to Puerto Rico by providing a total exemption from local income taxes on all passive income realized or accrued after such individuals become bona fide residents. Learn more.
Engage with Latin America’s Economic Growth
Expanded diplomatic efforts will work to include Puerto Rico in the region’s current economic boom. A two-way plan will facilitate exports to Latin America and will attract Latin American companies to invest in Puerto Rico. Learn more.
Film and Media Production Incentives
Building on a proven ten-year track record of one of the earliest and most competitive incentive programs in the industry, Puerto Rico recently solidified its position as one of the leading jurisdictions for the production of film, television and other media with the enactment of the Puerto Rico Film Industry Incentives Act. Learn more.
Jobs Now Acts
This landmark act seeks to create 50,000 new jobs through attractive incentives and benefits to eligible employers. By hiring new workers, businesses could be rewarded with a package of tax exemptions and credits, salary subsidies, and loans at reduced interest rates. Learn more about all its benefits.
A series of reforms will seek to overhaul Puerto Rico’s agricultural industry in order to move the island closer to self-sufficiency, creating new opportunities for investment and job creation. A second phase of the agricultural plan will transform Puerto Rico into a strong agricultural exporter. Learn more.