Puerto Rico

Sectors it is courting

• Aerospace and Defense
• Business and Professional Services
• Energy
• Financial Services
• Healthcare
• Information and Communication Technology
• Distribution and Logistics

Investment it is seeking from

• Germany
• India
• Japan
• United Kingdom
• Italy
• Qatar
• Spain
• Brazil

Supply-chain projects it is looking for

Biotechnology, Electric Vehicles (EVs), Semiconductor Manufacturing and Advanced Packaging

Site-selection services it offers

Real estate siting, incentives, permitting, site visits/ familiarization tours, networking with local stakeholders, energy solutions, and workforce solutions.

Incentive programmes

• Tax Credit

  Research & Development tax credits up to 50%.

• Tax Exemption

  75% exemptions on property tax. 50% exemptions on municipal tax. Additional exemptions for renewable energy projects.

Technology-sector sub-sectors sought

CleanTech, eCommerce & Retail Tech, FinTech, HealthTech (including MedTech), ICT (including Software / Cybersecurity / AI)

Programmes for international technology startups

Young professionals up to 35 years old enjoy 100% exemption on first $500,000 in net income. Small business with less than $3M in annual sales in the first five years enjoy a 2% corporate income tax rate and exemptions on property and municipal taxes.

Incubators and accelerators

• Parallel18

  Parallel18 is a top-level, performance-driven international startup program with a social mission: offer entrepreneurs from all over the world access to high-quality business training, funding, and networks to help them scale globally while working to position Puerto Rico as a unique hub for innovative businesses and technology.

• Puerto Rico Techno-Economic Corridor (PRTEC)

  PRTEC manages Vitec, the first technology-based business incubator established in Puerto Rico. Vitec offers ready to use offices and facilities, provides mentoring and technical assistance, and extends its large innovation & entrepreneurial ecosystem in western Puerto Rico to its clients and incubees. PRTEC also manages the Puerto Rico Medical Devices Cluster, which integrates global OEM, local suppliers, government agencies and academic partners, in an effort to make the sector more competitive in the global economy. PRTEC is a founding member of the new Puerto Rico Aerospace & Technology Consortium, and hosted some of aerospace companies as landing site for their startup of their operations in the island at our Vitec Incubator.

• Puerto Rico 5G Zone

  Advanced Innovation & Test (AIT) Lab for testing, training, and research on 5G enabled devices. Helping government, industry and academia to better understand the opportunities presented by the future of blockchain, broadband, and high performance computing.

Investor account, as submitted

Indian pharmaceutical manufacturer Aurobindo Pharma Limited: India has established operations in Puerto Rico under the name Auro PR, Inc. The initiative, which represents an investment of around $100 million over the next few years and is expected to potentially generate 500 jobs in the first three to five years, further underscores Puerto Rico’s position as an important bioscience manufacturing hub, accounting for the island’s six-decade legacy in this vital sector. Auro PR, Inc. has acquired a 240,000 square foot pharmaceutical manufacturing facility in Caguas, where Auro PR, Inc. employs approximately 350 people, and a 33-acre parcel of land in Caguas, to expand the existing manufacturing operation and grow their workforce.

Submitted by the economic development organisation, not independently verified.

Regional partner organisations

• Department of Economic Development and CommerceVictor.Merced@ddec.pr.gov(787) 765-2900

Who to contact

• Ella Woger-NievesChief Executive Officerewoger@investpr.org(787) 966-7642
• Barbara NaverioEvents & Activations Directorbnaveiro@investpr.org

200 Convention Boulevard, Suite 301, San Juan, PR 00907