(August 9, 2017 – La Fortaleza, San Juan) Governor Ricardo Rosselló along with Secretary of Economic Development and Commerce (DEDC) Manuel A. Laboy announced on Tuesday the first Invest Puerto Rico Forum.
The mission of the Invest Puerto Rico Forum is to position Puerto Rico as the most competitive destination within the United States to invest in, create, or relocate businesses.
The forum is scheduled to take place from September 20-21 at the Puerto Rico Convention Center and will attract close to 500 investors and entrepreneurs interested in business opportunities on the Island.
In the forum, government officials and private sector leaders will present on Puerto Rico’s competitive advantages for investment, tax incentive programs, structural reforms underway, and opportunities in infrastructure, energy, technology, real estate, tourism projects, among other areas.
“We have established an economic development model based on knowledge and innovation, focused on the emerging industries of research and development (R&D), technology, and exportation services. We are working to position Puerto Rico as a hub for innovation and investment as we continue to integrate ourselves in the global economy. These efforts, combined with a solid incentives program, will allow the Island to compete with the largest world economies,” expressed Gov. Rosselló.
Secretary Laboy added that “Puerto Rico offers unique advantages for companies and investors. We have an innovative business ecosystem and the most attractive tax incentives in the nation. On top of that, we offer world-class talent as acknowledged by leading global companies, modern and reliable infrastructure, and the operational stability of a federal jurisdiction. “
“These assets make Puerto Rico the ideal place for emerging industries to grow. The Forum will showcase that Puerto Rico is open for business,” added Laboy.
The Invest Puerto Rico Forum will present an incentives program to investors including a 4% tax rate on net income for corporations in sectors such as manufacturing, biotechnology, pharmaceutical, tourism, exports, insurance, financial and professional services, bio-agriculture, tourism development, among others.
Governor Rosselló recently amended Acts 20, 22, and 73, to make it easier for companies and individuals to invest in Puerto Rico.
The amendments remove red tape and encourage economic investment in R&D by allowing companies that operate with federal grants to obtain the tax credits provided by law.
In the forum, Laboy will discuss the new vision of economic development for Puerto Rico, focused on fostering innovation-based industries. This will be followed by a series of conferences and panels that will present, in detail, the incentive laws for corporations and individuals; the plan of structural reforms carried out by the administration; and how Puerto Rico is “Open for Business”.
The second day will include a panel on the current fiscal situation of Puerto Rico, a plenary session on the promotion strategies that are under development, which include the recently established Invest Puerto Rico and Destination Marketing Organization (DMO), and a session of short presentations on relocating, settling in Puerto Rico, and adapting to the lifestyle.
The Invest Puerto Rico Forum is an event for entrepreneurs and investors. For more information and event registration, access www.investpr.us. You can also join the conversation on LinkedIn.