Industry and Entrepreneurs

'Puerto Rican' computers

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The first 100% Puerto Rican-designed laptop computers will be available in the market soon. These computers, under the Babilon brand, will cost approximately $550 and will include 1GB memory, 80 GB of RAM, wireless card, Windows Vista operative system, DVD burner and USB connection.

A new, stronger PRIDCO

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A little bit more than a year after the start of the re-organization of the Puerto Rico Industrial Development Company (PRIDCO), the agency’s executives assure that the changes have improve the satisfaction of their industrial clients and that Puerto Rico has been better advertised abroad as an investment destination. The executives describe the “new PRIDCO” has a better and updated public corporation that has a more effective organization, although it now has about half of the employees it had on July 2006.

Competition for new entrepreneurs

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For the third consecutive year, the EnterPrize Business Plan Competition will offer a series of tools so that anyone that wants to develop their own business –it could be an entrepreneur, professional or student- has the necessary support to transform their ideas into enterprises with a high success and potential. The competition offers, to the first three places, prizes valued in $50,000 total cash as well as services provided by the sponsors of the competition that included legal assessment, office space, accounting services and publicity. Participants must submit their plans by September 27. For submission or more information you can visit www.enterprizepr.com.

Taking advantage of the technology market

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The Puerto Rico Industrial Development Company (PRIDCO) has established a Federal Technology Office in Washington, D.C., looking to give Puerto Rico better access to the $374,000 million market of contracts with the Federal Government. The new office, which will open in September, will be directed by Hector Feliciano, and its located in the Puerto Rico Federal Affairs Administration (PRFAA) headquarters.

Citizens oppose eolic park for environmental reasons

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A total of 4,503 people signed a setter, sent to the secretary of the Department of Natural and Environmental Resources, Javier Vélez Arocho, where the petition him to explain and retire his support to an eolic park project in Guayanilla. The citizens argue that the park will threaten endangered species like the Puerto Rican nightjar, the brown pelican and the lizard of the dry forest. The project plans to install 25 wind mills, each producing 1.8 megawatts that will supply energy to around 20,000 families.

Unceratin future for industry

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Representatives of Puerto Rico’s private sector assure that the controversy between that sector, the Executive, the Senate, and the president of the House of Representatives, José Aponte, on the extension of the Tax Incentive Law has caused the main economic promotion statute for the country, and the investments by companies and individuals to enter a limbo.

Energy alternative

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Photovoltaic panels are one of the options for alternative energy generation; changing the people’s way of thinking and motivating them to use alternative energy sources is Gabriel García’s personal challenge. For this reason, this entrepreneur decided to create his own business, where he offers his customers the option of being independent from traditional electric power sources, thanks to a system he has proven in his own house. Five months ago he opened the store “Energy Alternative” in Rio Grande, which operates on photovoltaic panels, wind mills and batteries. In the store, more than selling, he educates dozens of curious visitors that come by every day.

Amgen will continue expansion

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The delay in the expansion of Amgen in Juncos, on of the companies used by the Government to sell the Island as a global center for biosciences, affects “very little” the Industrial Development Company’s plans. Boris Jaskille, executive director of Industrial Development said that “it is more important that the House of Representatives approve the extension of the Tax Incentive Law.” Emilio Rivera, vice-president of Amgen Puerto Rico said that the plant, which employs around 2,300 people, will continue its expansion in Puerto Rico, “but at a slower pace.”

Forum on patents and branding

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With the purpose of driving innovation and entrepreneurial development the Department of State had its “First forum on brands and patents: Tools for the knowledge-based economy” on Friday, where they discussed the importance of intellectual property in the future of industry, economy and public policy in Puerto Rico. The activity created awareness of the shift in the economic picture, where capital accumulation is not a key factor in economic growth, but an abundance of knowledge is.

Puerto Rico needs a strategy to attract foreign capital

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Before putting together any law or corporative incentives package, the first thing that Puerto Rico has to do, according to economist Francisco Catalá, is to adopt a public policy on foreign investment. According to Catalá, it is impossible for Puerto Rico to take advantage of the opportunity that foreign capital offers if it doesn’t know how to use it. The strategy for capital attraction should take into account the companies’ needs to be effective, and in that context, the tax rates are not the main reason for a company to establish themselves in a country.

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