Invest Puerto Rico (InvestPR), the island’s economic development organization, presented to its Board of Directors its annual report for fiscal year 2022, as mandated by law. The report, a copy of which is also submitted to the governor of Puerto Rico, Pedro Pierluisi, summarizes InvestPR’s activities over the past year and how they contributed to furthering its mission of promoting Puerto Rico as a competitive investment jurisdiction to attract new business and capital investment to the island.
Invest Puerto Rico is interested in identifying the issues that may cause employers doing business in the United States not to authorize employees to work remotely from Puerto Rico when they so allow it from other jurisdictions within the United States.
The past year was anything but business as usual. The pandemic profoundly impacted all aspects of life and its effects will be felt for years to come. At Invest Puerto Rico (InvestPR) we leveraged the worldwide reset to redefine and demonstrate our value in positioning the Island globally for investment attraction, establish and cultivate important relationships, and elevate our role as a highperforming economic development organization.
Puerto Rico boasts a highly talented workforce, with especially strong concentrations in technical, engineering, and BioScience professions. While recent natural disasters have caused an outmigration to the mainland, the growth of key sectors of the economy, an enthusiastic & engaged diaspora community of Puerto Ricans, available workforce development resources, and strong academic centers have all contributed to the growing pool of skilled workers that are eager to participate in the local economy in the years since.
An analysis of the Island’s sector competitiveness and recommendations for driving economic transformation
This past year, global supply chains, particularly of critical materials, have been severely disrupted, leading to a national push to re-shore essential manufacturing. As a recognized international BioScience powerhouse, Puerto Rico offers the ideal solution to the United States and to foreign companies that are hoping to maintain strong links to US and Latin American markets, while taking advantage of top-notch talent and cost-effective business solutions.