We are all development, and PRIMEX is also development!
For more than 25 years, PRIMEX has played a relevant role in Puerto Rico’s industrial ecosystem, making a positive impact in their competitiveness through different business sectors, being local manufacturing one of the most impacted.
PRIMEX's contribution to the local industrial sector includes, without limitation, improving productivity and efficiency by identifying growth opportunities and promoting the use of technology. PRIMEX has been a great supporter of the Puerto Rico Department of Economic Development and Commerce (DEDC) and of small and medium-sized businesses in Puerto Rico. We recognize their hard work and commitment throughout the past 25 years.
Today more than ever, our local industry development plays a central role in our future; transforming our industry and taking it to the next level is everyone's duty. We encourage you to continue working closely with the DEDC to help entrepreneurs to become world-class exporters while we prepare and coach them to become global industrialists.
We must seek to achieve the economic development we all want and deserve. It is essential to look forward with optimism, being innovative, different, and relevant. In the words of the great Spanish philosopher, Miguel de Unamuno, Progress consists of renewal, words that have been more than confirmed over the decades, and which we have experienced firsthand during the crises we have gone through in recent years.
We encourage you to join us in the DEDC's vision: to pursue the sustainable economic development of Puerto Rico and the improvement of the quality of life of our people through a robust entrepreneurial ecosystem and a world-class economy based on knowledge and innovation.
We have identified five pillars that will help us develop this vision:
- Strengthen the entrepreneurial ecosystem by exporting Puerto Rican goods and services throughout the world. We must ensure that we empower Puerto Rican entrepreneurs to see the world as their market, and why not, if an American or foreign company decides to withdraw its operations from the island, we have a base of capital and skilled human resources ready to avoid closing and convert those operations into the local industry.
- Attract strategic global companies and solidify existing ones, optimizing Invest PR as Puerto Rico's industrial promoter, and strengthening the business development office, including the Puerto Rico Industrial Development Company (PRIDCO) as a real estate partner. The strategy of attracting high value-added companies is not only based on the creation of high-value jobs, but also important to attract traditional manufacturing operations as well as knowledge, technology, and service industries, among others, which as value-added contribute positively to the creation of internal wealth.
- Facilitate the management and costs of doing business in Puerto Rico, with an agile, simple, and cost-effective permitting process through the optimization of technological tools and eliminating unnecessary or redundant regulations. In addition, it is important to urgently address areas that affect the costs of doing business in Puerto Rico such as utilities and infrastructure, among others.
- Develop a world-class workforce for the future, incorporating technology as a leading edge. By optimizing our Labor Development Program, we will create alliances with the Department of Labor, the Academy, and industries.
- Develop Puerto Rico's geographic areas by identifying the strengths of each region, while at the same time addressing their needs, optimizing opportunity zones. This initiative will allow us to attract small and medium-sized U.S. operations (sales between $500 million and $800 million annually). Currently, there is a small group established in Puerto Rico and an estimated 10,000 of these companies in the United States, which represent a great opportunity.
We invite PRIMEX and everyone to join us in this economic development effort, which among other things will bring our children back home, because we are all development, and PRIMEX is also development!