In 2022 at least 2,000 projects will be either up for bids process or under construction

I remember the day I was appointed Secretary of the Department of Economic Development & Commerce of Puerto Rico (DEDC). For me, this appointment represented the opportunity of a lifetime to contribute in a meaningful way to Puerto Rico’s social and economic development.

We began facing the reality of having to govern with the existence of then-recently appointed Fiscal Oversight and Management Board (FOMB), resulting in the Government of Puerto Rico officially filing for bankruptcy protection back in May of 2017. On September 20, 2017, Hurricane María made landfall in Puerto Rico, and devastated the island in the worst natural disaster that Puerto Rico has ever faced. Over the next year and a half we engaged in a process that began with the initial response to the disaster, moved on to the eventual stabilization of government operations, and then gravitated towards the beginning of the long-term recovery.

We did these things while simultaneously regaining credibility and investor confidence to attract foreign direct investment to Puerto Rico. We retained and expanded our base of existing multinational operations, brought back tourists, and aided in the recovery of our small and medium businesses. Then came what in Puerto Rico has come to be known as the ‘Summer of 2019’—a period of political and administrative chaos and uncertainty the likes of which has not been seen nor felt in a long time. Things eventually settled down and for the remainder of that year Puerto Rico went back to work on its recovery.

On January 7, 2020, a 6.4 magnitude earthquake struck the southwestern region of Puerto Rico in what is considered the worst seismic devastation that Puerto Rico has seen in the last century. Three months later, a state of emergency was declared due to the COVID-19 pandemic, and Puerto Rico went into lockdown mode. The remainder of 2020 was dedicated to dealing with the COVID-19 and its disastrous consequences to our economy and public health.

To say that Puerto Rico has been thrown a few curve balls over the past five years is a massive understatement. However, the DEDC made substantial contributions to Puerto Rico’s economic development. In 2019, prior to the COVID-19 pandemic, our GDP experienced positive growth, with sectors such as manufacturing, tourism, export services and agricultural industries posting the highest number of jobs since 2015. We created a new Incentives Code, Invest Puerto Rico, Discover Puerto Rico and the Single Business Portal, established a service center for small and medium businesses, programs to support innovative start-ups, and spearheaded the expansion of transfer services at our international airports that was granted by the US Department of Transportation. We also strengthened our Apprenticeship Program in support of Puerto Rico’s workforce development.

In December of 2020, my tenure as Secretary of DEDC came to an end, and a new chapter began when Governor Pierluisi appointed me as Executive Director of the Central Office of Recovery, Reconstruction and Resiliency of Puerto Rico (COR3). Since January 2021, my main focus has been to accelerate reconstruction projects. So far, FEMA’s Public Assistance has approved 7,296 projects and $19.5 billion for permanent structures after Hurricane María. Hundreds of these projects have already been completed, and over 500 are currently under construction. We expect that in 2022 at least 2,000 projects, with a construction value of over $4,000 million, will be either in a bidding process or under construction, including the first projects to repair the electrical transmission and distribution system, as well as water and aqueducts, roads, schools and hospitals.

As we finally move away from bankruptcy, the focus must be economic growth and sustainable development. COR3 is doing its part to ensure our infrastructure is modernized and becomes more resilient, a necessary foundation to achieve competitiveness. Our success with Puerto Rico’s reconstruction will not only benefit us; it will also strengthen the US, and it will leave a legacy to future generations.