DDEC and Lufthansa Technik Puerto Rico Reach Agreement to continue supporting Employment Opportunities and Increasing Supply of Local Goods and Services
Manuel Cidre Miranda, Secretary of the Department of Economic Development and Commerce (DEDC), announced that Lufthansa Technik Puerto Rico (LTPR), LLC agreed to receive funding support from the Government of Puerto Rico to cope with the challenges the aviation industry is facing. Lufthansa Technik Puerto Rico is part of the Germany based Lufthansa Technik Group and is specialized in maintenance, repair, and overhaul (MRO) of commercial aircraft fleets; it has been established in Aguadilla since its foundation in 2014 and is the only Lufthansa Technik base maintenance company in the Americas. The stimulus assigned to LTPR will support the future of its operations and thus its workforce, which consists of 318 employees. In addition, it will allow the aerospace corporation to increase the acquisition of goods and locally sourced services.
Secretary Cidre explained that the aid comes from the Economic Incentives Fund, which is part of the new Puerto Rico Incentives Code. These incentives will not only be used to retain existing employments, but to create additional positions despite the unprecedented worldwide economic recession in the aviation industry. Lufthansa Technik Puerto Rico informed the DEDC that they have secured two substantial contracts with airline customers, partially due to the assistance received from the Government of Puerto Rico. The performance and delivery of services for these contracts will be enabled by the granted incentives, which are destined towards employee retention and investment in local goods and services.
“With our support, Lufthansa Technik Puerto Rico is committed to retain and recruit highly qualified workers with expertise in aviation management, engineering, and mechanics. We want to encourage companies like Lufthansa Technik to stay in Puerto Rico and develop their operations by providing secure opportunities for skilled labor, as our workers deserve,” said Cidre Miranda.
Regarding this significant opportunity, LTPR’s Chief Executive Officer Pat Foley commented: “We are thankful to the Government of Puerto Rico, and especially the DEDC, for their trust in us. We aim to continue hiring Puerto Rican professionals and contributing to the economic growth of the Island with a commitment to ensure our long-term future in Aguadilla”.
Lufthansa Technik Puerto Rico began operations in mid-2015, growing to its full capacity of 5 lines by 2017. With a capital investment of over $39 million, the state-of-the-art facility is one of the most modern and efficient locations in the Americas, with the capability to perform both aircraft maintenance and painting in parallel.