The Department of Economic Development and Commerce (DEDC), develops multiple incentives for different sectors of the economy. On this page you will find our wide range of incentives for companies of all sizes.
Creative businesses possess the potential to create jobs and wealth primarily through the export of creative goods and services. Act 173 amends multiple Acts to facilitate access by Creative Industries to various incentives.
Incentives for Creative Industries
The Department of Economic Development and Commerce (DDEC) implemented the Incentive for Creative Industries, whose assigned amount amounts to $ 3 million for entities and individuals who work on their own in said sector, in order to provide an economic reinforcement. This incentive is focused on providing assistance and reaching those who are not eligible under the other incentives provided by the Government of Puerto Rico or the Cares Act of the U.S. If you are interested, press the button and learn more about this help!
To promote the necessary conditions to attract investment from industries, support small and medium merchants, face challenges in medical care and education, simplify processes, optimize and provide greater transparency, Act 60-2019 was signed, which establishes the new Puerto Rico Incentive Code.
As part of the DEDC strategy, we are promoting a diverse manufacturing economy, considering industries from various strategic groups. Those groups include: biotechnology, medical devices, pharmaceuticals, agroecology, aerospace, outsourcing of knowledge services, electronics, computing, engineering and construction, and apparel manufacturing. If your company seeks growth in any of these segments, contact us to learn more about our value proposition.
Foreign Trade Free Zone # 61
The Puerto Rico Trade and Export Company (CCE) is the operator of the San Juan Foreign Trade Free Zone No. 61. After the expansion of the area's boundaries, all the land belonging to the CCE in Mayagüez and the metropolitan area can receive the benefits of operating under the free zone program.
This program aims to assist small businesses and start-ups with a financial grant of up to a maximum of $ 100,000, to help them direct their business growth plans, market and export their innovative products based on science and technology. The money comes from the Special Economic Development Fund (Act 73-2008), so the companies that apply have to carry out activities eligible under Act 73-2008 and Act 20-2012.
Exportation of services
Puerto Rico is the most attractive option for business development and investment in the knowledge services sector, offering great incentives, an attractive local market, a highly educated workforce, and a strategic location within the jurisdiction of the United States. From which to serve the rest of the world. The island is rapidly emerging as an excellent hub of knowledge services for both online monitoring and telecommunications-related operations such as call centers. The island has a pool of talents from a well-educated and bilingual (English and Spanish) workforce that is an asset in providing clear and understandable communication with clients.