A Powerful Choice for Investment
Puerto Rico offers companies the security and stability of operating in a U.S. jurisdiction while providing an unrivalled array of tax incentives that make it a compelling destination for businesses – big and small. At a glance, here some of our main site selection advantages for the life science, aerospace/aviation, information technology, renewable energy and many other sectors:
U.S Legal Framework and Protection
- U.S. foreign trade zones and customs; goods enter U.S. market duty-free
- U.S. legal framework and intellectual property protection
- U.S. currency and banking system
- Homeland Security Act protection
- No passports required for U.S. citizens traveling to Puerto Rico
Highly Skilled Workforce
- 1.3 million workers in the Labor Force; many bilingual
- Knowledgeable in GMP, FDA and global regulations
- Manufacturing wages 65-80% lower than mainland U.S.
- Highly educated, with more than 30,000 university degrees granted each year in science, math and technology fields
World-Class Infrastructure
- Port of San Juan #9 in container movement in U.S.
- Around 5,000 cargo flights per month and around 2,200 weekly flights from San Juan International Airport, according to PR Ports Authority in 2010.
- 139 industrial parks with 25 million square feet of space managed by PRIDCO
- 24,000-mile highway network
- 5,839 megawatt generating capacity with a vigorous energy source diversification plan for the next 10 years and two private energy cogenerators
- Water quality meets rigorous U.S. EPA standards
- Fiber-optic telecommunications network
Strong Demographics for Business Success
With a well-earned reputation for its highly skilled and educated workforce, Puerto Rico is a dynamic location where companies can prosper and expand their operations.
According to the U.S. Census Bureau, the island has a population of 3.7 million people with a median age of 37 years. Female population represents 52.1% of the total population. Well more than half (58.1%) is in their prime working years of 20 to 65 years old. Nearly evenly split between male and female, the workforce is bilingual, speaking both English and Spanish.
The Puerto Rico Industrial Development Company can develop detailed demographic reports and market analysis for site selection decisions. If you are considering relocation or expansion in the region, please contact us for more information.
A Seamless Process for Planning and Permits
The Puerto Rico Industrial Development Company is committed to assisting companies with all necessary planning and permits to make the process as seamless as possible and cut through any red tape. The Puerto Rico Planning Board has jurisdiction over zoning on the island and any company seeking to develop a real estate project in Puerto Rico should request a site consultation from the Planning Board.
As with most locations, permits are required to construct buildings and establish businesses in Puerto Rico. PRIDCO can help guide companies on how to obtain these permits from the Permits Managment Office (OGPe). Please let us know how we can help.
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