Hurricane Maria placed the world’s eyes on Puerto Rico. And we cannot risk having that attention turn away.

Invest Puerto Rico, created by law as an independent, private, nonprofit entity to attract new investment to the island, is the ideal tool to capitalize on this unique opportunity.
Its mission is clear: to promote Puerto Rico as a prime investment destination, attract new businesses and external capital, and, in doing so, create new jobs for Puerto Ricans.

The global competition to attract capital is fierce and requires a dedicated effort. The Puerto Rico Industrial Development Company and the Department of Economic Development and Commerce will focus on retaining and supporting the current business base on the island, helping them grow and expand. They will also work to boost the competitiveness of local businesses so they can export products and services beyond Puerto Rico. Meanwhile, Invest PRwill lead the charge to attract new industries.

As an independent entity, Invest PR will serve as a single point of contact for prospective investors and will implement a long-term strategic promotion plan, with clear performance indicators, to ensure Puerto Rico’s brand as an investment destination remains consistent and unaffected by political shifts. This will undoubtedly strengthen investor confidence and Puerto Rico’s credibility on the global stage.

Additionally, promotional efforts will become more focused and agile, maximizing resources and ensuring measurable outcomes. A study commissioned by Invest PR identified that, considering global competition and Puerto Rico’s competitive advantages, the greatest short-term economic impact could come from attracting businesses in the knowledge-based industries. With this initial focus, Invest PR will launch its full promotional efforts in 2019.

Despite the benefits of operating independently, economic development is a team effort. Investment and promotion agencies worldwide thrive on collaboration between the public and private sectors. Invest PR is no exception—its board of directors includes representatives from various economic sectors who bring relevant perspectives and immense value to the table. The board has already begun gathering input from professional associations, nonprofit leaders, and the Puerto Rican diaspora, among others, to shape its strategic plan, identify shared opportunities, and ensure these groups are aligned in maximizing future promotion efforts.

Just over a year after Hurricane Maria, it is more important than ever that the message “Puerto Rico is open for business” rings loud and clear. Through Invest PR, the government will act as a facilitator, allowing the private sector to play a leading role in the island’s economic recovery—while continuing to promote the structural reforms needed to create the ideal business climate.

Puerto Rico will undoubtedly shine brighter and stronger as a relevant and vibrant investment destination in the eyes of the world.