The Department of Economic Development and Commerce (DEDC) is the leading entity in the executive branch of the Government of Puerto Rico that establishes the vision and public policy of economic development and serves as coordinator and integrator of the strategies and initiatives of its affiliated entities.
Agencies and Offices
To achieve its objectives and fulfill the mission effectively and fully, the DEDC is undergoing a reorganization, complying with Law 141-2018, integrating the expertise and proven experience of various government entities.
This consolidation of resources strengthens the capacity to foster a prosperous private sector that takes into account economic globalization. It also allows strategies to be put in place that encourage investment, create jobs and improve the quality of life in Puerto Rico.
As Secretary of the Department of Economic Development and Commerce (DEDC), and Executive Director of the Industrial Development Company, I reaffirm our commitment to offer the best business environment, demonstrating that the island continues to be one of the best destinations in the world for doing business.
We will continue to strengthen tools that facilitate creation and development of businesses, such as Permit Reform and a Single Business Portal (SBP) that simplify and streamline business processes; the federal Opportunity Zones (OZ) project; the Labor Development Program, which includes aids and incentives to train and employ the workforce; initiatives such as Innovative SMEs, Medical Tourism, Hydroponics and Aquaponics, Real Estate, Business Briefcase for Women and the Federal Contracting Center (FeCC).
The new Incentive Code (Act 60-2019) will promote the development of more economic sectors. This Code will provide certainty related to the types of incentives that Puerto Rico offers to attract investment and will create jobs in sectors such as manufacturing, tourism, agriculture, aerospace, biosciences, technology, renewable energy, entrepreneurship and export services. It also defines new incentives to support emerging sectors, such as the creative, eSports and entertainment industries. In addition, it is based on metrics that will measure its effectiveness and the return on investment (ROI) of all the incentives granted, which will define the possibility of being amended.
We will continue working on the development and implementation of programs, laws and initiatives for the benefit of entrepreneurs, who contribute so much to economic development. Promoting a favorable economic climate for companies to prosper alongside the working class they employ; supporting them in everything that is necessary, so that the efforts made by those who are on the way yield results that entrepreneurs and all our people deserve.
Puerto Rico is open to do new business!
You can count on us,
Manuel A. Laboy Rivera
Secretary of the Department of Economic Development and Commerce
Executive Director of the Industrial Development Company
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