Developed Economy in the Region
Puerto Rico enjoys a highly diversified economy and has become a formidable player in high-value added manufacturing industries that include pharmaceuticals, electronics, processed foods, clothing, and textiles. The service sector is playing an increasingly pivotal role in Puerto Rico’s economic development contributing significantly to job creation and growth, particularly in educational and health services, professional and business services, financial and insurance services, among others. Below are a series of the principal economic indicators of Puerto Rico’s economy. For more economic indicators on Puerto Rico, please click here.
Plan for Economic Development
The new Plan for Economic Development is anchored on four main pillars that work together towards sustained, long-term growth:
We have to transform Puerto Rico's education to foster a maximum level of innovation & technology that enables us to be globally competitive and thus reach the desired level of local, national and foreign investment that allows the export of goods and services.
Learn more about Puerto Rico’s Integrated Economic Development Plan here.
Strategic Economic Development Projects
There is a wide variety of diverse industries across the island, and more companies joining in from across the globe everyday.
Aerospace, Biotech, and Export Services are transforming the landscape for development. Puerto Rico offers attractive advantages for emerging and growing industries, all in a unique Caribbean setting.
Learn more about Puerto Rico’s strategic economic development projects. Learn about the industries that are driving growth for Puerto Rico.
The recently enacted Export Services Act will make good use of Puerto Rico’s highly educated and professional workforce in order to turn the island into an international export services hub. A series of incentives will encourage service providers to expand their offerings to markets outside Puerto Rico and will attract new businesses to Puerto Rico.For more information, click here.
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.For more information, click here.
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.For more information, click here.
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.For more information, click here.
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 about incentives for individual investors.For more information, click here.
Roosevelt Roads Redevelopment 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.For more information, click here
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.For more information, click here.
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.For more information, click here.
Small and Medium-sized Businesses are great economic drivers, especially in niche industries. To foster their growth is to foster the development of a sustainable, diverse business ecosystem.
Incentive programs are available to all-sized businesses.