PRIDCO - Overview - The Commonwealth Relationship


	Advantages Overview
	The Manufacturing Powerhouse
	The Commonwealth Relationship
	Basic Facts

		The Commonwealth Relationship
	About Puerto Rico History Puerto Rico was a Spanish colony from 1493 until the end of the Spanish-American War in 1898, when it became a U.S. territory. By virtue of Law 600 of 1952, the Commonwealth of Puerto Rico drafted its own Constitution, which was approved, by majority of votes, by the people of Puerto Rico. The Constitution of the Commonwealth of Puerto Rico sets forth the same basic rights and government structure as does the U.S. federal charter. Government Although fiscally autonomous, Puerto Rico operates under the tenets of both the U.S. and Commonwealth Constitutions and, historically, has had one of the most stable governments in the Americas. Is a self-governing commonwealth in association with the U.S. The chief of state is the President of the United States of America. The head of government is an elected Governor. The local government is organized into three distinct branches: a bicameral legislature, the judiciary, and the executive which is currently headed by Governor Aníbal Acevedo Vilá, Esq. The island also maintains a non-voting seat in the U.S. House of Representatives, and is represented in Congress by a Resident Commissioner elected every four years. Puerto Rico’s relationship with the U.S. federal government, as defined by the Constitution of 1952, is in many respects similar to that of any state. Matters of currency, defense, external relations and interstate commerce are within the jurisdiction of the U.S. federal government. The U.S. Constitution, as well as many laws passed by Congress are applicable in Puerto Rico.
	Puerto Ricans are U.S. citizens since 1917. The Island is divided into 78 municipalities with local majors and municipal assemblies at the helm. Elections for political positions take place once every four years and decide every elected official. Puerto Rico has cultivated a vigorous democratic tradition very similar to the U.S. and exhibited in the Commonwealth’s high voter turnout at a rate of more than 80 percent. Residents of the island may vote in Presidential primaries, but not in the general election. The U.S. dollar is the island’s currency. Residents pay local income taxes while contributing to the U.S. national Medicare and Social Security systems. All U.S. labor, safety, minimum wage laws and standards apply. Duty-free access to the United States and economic incentives encourage heavy investment in Puerto Rico.
	The stability afforded by its relationship with the U.S. has enabled Puerto Rico to successfully shift from an agricultural economy to a robust and varied industrial economy. Puerto Rico’s air, sea and land transportation system makes the Commonwealth the transportation hub of the Caribbean. As one of the most densely populated islands in the world, the people of Puerto Rico represent a vibrant cultural and racial mix of European, African and modern Caribbean influences.