Puerto Rico Reshoring Coalition working to reincentivize manufacturing

by admin on January 31, 2025

Its reshoring initiative aims to strengthen the island’s economy and global competitiveness

Led by the PR-USA Chamber of Commerce, in collaboration with the Puerto Rico United Retailers Association (CUD, in Spanish); Industry University Research Center Inc. (Induniv), the nonprofit Instituto de Formación Democrática (IFD); and the Recovery Innovation Coordinator and Center of Excellence (RICCE), a program under the IFD, the Puerto Rico Reshoring Coalition (Pueririco) is advancing efforts to attract interest in bringing manufacturing back to the island.

The delegation will travel to Washington, D.C., where Pueririco will be announced on Capitol Hill in early February. Founding members include Yolanda Lassalle, Taylor Widrig, Elmer Román, Iván Lugo, Luis Torres-Llompart, Ramón Barquín, Thomas Agrait, Antonio “Tito” Colorado, Heriberto Torres-Cortés, Luis Alemañy and José Luis Rivera-Villamañán.

“This coalition represents a collaborative effort among government officials, industry leaders, and economic development specialists united in the mission to encourage retention and the return of mainland operations to the island. National security concerns and several incentives can make it happen. Microchip manufacturing feasibility is also being analyzed,” the organization stated.

The primary objective of the reshoring coalition is to project and raise awareness, as well as to explain why Puerto Rico must be a national and Latin American priority in U.S. public policy and legislation by communicating the island’s competitive edge on the global manufacturing stage and facilitating opportunities and projects that suffered a major downfall after the repeal of the U.S. tax code’s section 936 incentives.

The official launch and signing of Pueririco took place Jan. 10 in San Juan, where the coalition’s leaders discussed the challenges and potential of reshoring for Puerto Rico’s economy.

Rivera-Villamañán presented a background and action plan with short- and long-term strategies, including a draft for immediate action. A key strategy focuses on anchoring efforts with the PR-USA Chamber of Commerce’s (PRUSACC) influential base and mainland offices.

“One of the foremost goals is establishing and leveraging PRUSACC’s strength to channel support for Pueririco through our influence in Washington, D.C. and nationwide to generate support among national, close partner organizations like the U.S. Hispanic Chamber of Commerce, Congress and federal agencies,” said Rivera-Villamañan. 

Key industry sectors of interest include pharmaceuticals, medical devices and life sciences. Pueririco will establish strategic partnerships with various stakeholders, with a significant focus on attracting international investors through the island’s Act 60 incentives. 

The council aims to position Puerto Rico as a prime manufacturing hub and gateway to Latin America while fostering increased trade and twin-plant opportunities with the Dominican Republic, Costa Rica, Mexico, the Caribbean region and Panama.

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