The Weekly Journal - November 27, 2019

Puerto Rico and the Caribbean

www.theweeklyjournal.com

>Courtesy Discover Puerto Rico

Wednesday, November 27- December 3, 2019 - // no. 31

Support Local Shops on Orange Wednesday P15 Orlando Bravo Bets on a “Silicon Valley” in Mayagüez P17

Economic Development Hindered by Nuisance Epidemic

>Gabriel López Albarrán

Legal tools and federal funds available to address the issue

W Giovanna Garofalo

Something for Everyone at Eco’s Sports Park P20

ggarofalo@wjournalpr.com

@giopgarofalo

hile the local government endorses entrepreneurship and foreign investment to boost Puerto Rico’s economy and social well-being, the island’s nuisance and abandoned property problem remains a virtually uncharted territory that could potentially lift distressed communities while resulting in profitable investments. Across San Juan and the rest

of the island, abandoned properties or public nuisances are a common sight.

The Habitat Reconstruction Center (CRH by its Spanish acronym) released a report on Puerto Rico’s nuisance and vacant property problem, which found that there is a 22 percent vacancy rate islandwide and roughly 300,000 abandoned structures, including more than 600 closed schools that have not been revitalized through available state and federal mechanisms.

CRH Co-Director Luis Gallardo noted that the vacancy rate does not include GO TO PAGE 4

>Carlos Rivera Giusti

Puerto Rico Could Lead the Destination Wedding Market P8

The Weekly Journal > Wednesday, November 27, 2019 >

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/ Wednesday, November 27, 2019

a week in review El San Juan Hotel to Join Luxury Fairmont Hotels and Resorts

Baskin-Robbins Grows In Puerto Rico Puerto Rican company Island Creamery Inc. (ICI), exclusive operator of the Baskin-Robbins franchise in Puerto Rico, continues to bet on the local market investing $1.1 million in the remodeling of the San Patricio Village store in Guaynabo.The new look and innovative design will be also be used at other stores.

The San Patricio store, which opened its doors in 1977 and quickly became the highest selling store worldwide, reopened on Nov. 22. The store will employ 22 people, which will bring Island Creamery’s total employee count to 250.

Powered BY El Vocero de Puerto Rico, 1064 Ave Ponce de León 2nd floor San Juan, PR Postal Address: PO Box 15074, San Juan, PR 00902

>Archive

>Courtesy Baskin-Robbins

>Courtesy El San Juan Hotel

Fairmont El San Juan Hotel will be the luxury brand’s first property in Puerto Rico.

AccorHotels, the Fairmont parent company, is a world-leading, augmented hospitality group offering unique experiences in 4,900 hotels and residences across 110 countries. In addition to Fairmont, the AccorHotels portfolio includes internationally acclaimed brands such as Raffles, Sofitel, SO/, MGallery, Pullman, Swissôtel, Novotel and ibis – supported by one of the most attractive loyalty programs in the world. The current ownership group, ESJ Resort LLC, will continue to own the property.

Downward Trend in Unemployment Continues For the sixth consecutive month, unemployment showed a downward trend, reaching 7.7 percent in October, a slight decrease of 0.6 percent compared to the same period last year, but an increase of 0.1 percent compared to the month of September 2019.

According to the Federal Labor Bureau, in October there were 83,000 unemployed people, 7,000 less than during the same period in 2018, but 1,000 more than last September.

President Salvador Hasbún shasbun@elvocero.com

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/ Wednesday, November 27, 2019

“A vacant property can be a nuisance, in the CONTINUED FROM PAGE 1 same way that an occupied property can be a properties that are in ruins or considered nuisance,” he clarified. nuisances. Calculating the latter, that figure could In San Juan, the island’s capital, only 90 out surpass 30 percent, but the lack of updated of 46,580 vacant government records properties have been on these structures declared nuisances. hinders the calculation Despite having tens of an exact number. of thousands of While commonly unoccupied structures, used interchangeably, San Juan is not Gallardo said these listed among the terms are not exactly municipalities with synonyms of one the highest vacancy another. For instance, rates. According to a nuisance is a legal Gallardo, the highest is classification attributed actually Culebra, with to a structure that is 66.5 percent; followed inhabitable or poses

by Vieques, with 46.9 a threat to public percent; Rincón, with safety. A vacant 44.9 percent; Cabo property refers to a Rojo, with 42 percent; structure that remains Guánica, with 40.9 unoccupied. For percent; and Ceiba, example, a vacant - Luis Gallardo, Habitat with 38.5 percent. property could be a Reconstruction Center Co-Founder These numbers, structure used for rent. however, were Meanwhile, a structure compiled before the is deemed abandoned onslaught of hurricanes Irma and Maria in 2017, when it is in a state of ruins or has not been which further accelerated Puerto Rico’s population reclaimed by a proprietor.

There is no need to develop new constructions on natural reserves if one-fourth of our city is completely vacant…

We have always seen this inventory of abandoned properties as a way to rebuild communities in an organic way and to incorporate community development.

decline through migration. As such, these numbers are estimated to be even higher.

Legal Tools and Development Programs Available

The CRH conducted a survey of municipalities in which the organization identified a “genuine interest in addressing vacancy and abandonment throughout Puerto Rico, including collaborations with communities.”

Specifically, 84.2 percent of municipalities have approved a new ordinance to address the issue within the last four years, 80 percent want more affordable housing, 95 percent want to promote economic development and 40 percent want to expand municipal services and spaces.

There are several laws and bills designed to tackle nuisances with aims of stimulating economic development. Last year, the Act to Enable the Community Restorations in Puerto Rico (Act No. 31-2012) was amended to allow municipalities the option of leasing structures or obtaining ownership when these are labeled public nuisances in hearings or procedures. Act 31-2012 was also amended to incorporate laws and bills that allow municipalities to inherit nuisances, condemn delinquent nuisances or auction nuisances to collect liens; turn abatement costs into liens, and promote the creation of community land banks.

However, only 30 percent of municipalities are

Across San Juan and the rest of the island, abandoned properties or public nuisances are a common sight. >Carlos Rivera Giusti

/ Wednesday, November 27, 2019

familiar with land banking and only 40 percent have declared a nuisance in the last two years; 32 percent have overspent by purchasing nuisances at market rate, 5 percent have condemned properties with delinquent liens and only 5 percent have auctioned properties to collect liens.

Disaster Relief Funds Could be Key in Tackling Issue

The secretary of the Department of Economic Development and Commerce (DDEC by its Spanish acronym), Manuel Laboy, affirmed to this correspondent that the public entity envisions a healthier business climate on the island thanks to the federal funding provided under the Community Development Block Grant Disaster Relief Program (CDBG-DR), as well as the federal Opportunity Zones program that was incorporated into Puerto Rico’s Code of Incentives last summer.

The Puerto Rico Department of Housing categorizes CDBG-DR programs under five categories—planning, housing, economy, infrastructure and multi-sector. Some of these funds are assigned by the millions to strategic projects, title clearance, social interest housing, housing counseling programs, community resilience centers, city revitalization, municipal recovery planning, and more. Despite the availability of a federal mechanism that could be used to revitalize this nuisance epidemic, the CRH found that only 35 percent of municipal offices relate nuisances to their CDBG-DR recovery funds.

Considering this and the OZ program, which was designed to aid distressed communities by incentivizing investment, Gallardo noted that municipalities could incorporate nuisances and abandoned or vacant properties to the equation to endorse revitalization projects focused on community welfare and prosperity rather than seeking new constructions that could potentially lead to resident displacement or gentrification.

“There is no need to develop new constructions or natural reserves if one-fourth of our city is completely vacant… We have always seen this inventory of abandoned properties as a way to rebuild communities in an organic way and to incorporate community development,” he said.

Last August, the DDEC released a list of eligible commercial activities covered under the OZ program, which will eventually be updated to include which activities are eligible for more incentives by region. The current list includes the acquisition of property and/ or substantial improvement on residential real estate property that is a Low-Income Housing Project, a residential and/or commercial real estate property for sale or rent and industrial real estate property for sale or rent. The list also includes substantial improvement of an existing commercial property for sale or rent. Therefore, an updated inventory on vacant properties or the auction of a nuisance could incentivize more economic activity through the OZ program.

Outdated Records a Hinderance in Declaring a Nuisance

Co-director Luis Gallardo said that The Habitat Reconstruction Center released a report on Puerto Rico’s nuisance and vacant property problem, which found that there is a 22 percent vacancy rate islandwide. >Gabriel López Albarrán

Gallardo observed that the process for a municipality to declare a property as a nuisance could take several months in theory, but in practice may take years because of record-keeping problems in the Municipal Revenue Collections Center (CRIM by its Spanish acronym) and the Puerto Rico Property Registry.

“The CRIM’s issue is that its records are not updated and the Puerto Rico Property Registry is garbage—the fact that the records are not so precise makes it really difficult to identify where the owners are. The fact that a person can pass away and decades can go by before the CRIM updates its records doesn’t help either. Thus, the public registration system is highly deficient,” the CRH co-director denounced.

The process begins when the municipality

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Source: The Habitat Reconstruction Center

inspects a property and notifies the owner that the structure has been identified as a possible nuisance. The owner would then have 30 days to respond to the letter.

“The problem is that oftentimes, the owner cannot be identified. I’d say that roughly 95 percent of the times the owners never reply,” Gallardo stated.

If the owner does not respond to the written communication, the municipality would proceed with a public notice, which would allow the owner a further 30 days to reply. Afterward, the proprietor would have 60 days to fix the property, after which the municipal government can proceed with the available legal tools at its disposal.

If the municipality is inclined to acquire the property to remedy the nuisance, there are several options available.

“The municipality can buy the property at market value if it wants to. Otherwise, the municipality can exonerate it. If the property does not have heirs because the deceased owner does not have a will or children claiming ownership, the municipality can inherit the property. The municipality can also ask the court for a judicial sale and the property doesn’t pass through the municipality, but is instead sold at auction,” Gallardo explained.

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Short-Term Municipal Fiscal Health Improvement Even after a good fiscal year, about half of the municipalities still have a negative fund balance and still depend on central government revenues

I

Yennifer Álvarez Jaimes

>Source: ABRE Puerto Rico

yalvarez@wjournalpr.com

@yalvarezjaimes

n 2018, municipalities increased their general fund balance by 6 percent, the highest rate since 2013, the first year the index was calculated, according to ABRE Puerto Rico, a project that uses scientific data and technology to communicate public information, making it useful and accessible to every citizen.

On its sixth year of assigning a fiscal health score to municipalities in Puerto Rico, the report indicated that municipal governments were able to improve their fiscal situation by reducing their operating expenses by 15 percent and their income by only 7 percent.

This difference allowed most municipalities to have a surplus and thus improve their fund balance.

Around 73 percent of municipalities managed to increase their general fund without having to borrow or transfer money from other areas. Municipalities also managed to reduce long-term debt by 6 percent, mainly because they have been restricted in the issuing of new loans.

The index is calculated using thirteen indicators with information derived from the municipalities’ audited financial statements.

Fajardo, Cayey, Barranquitas and Isabela repeated their A performance from last year.

As for the bottom 10, there are some repeat

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municipalities this year: Ponce, Cabo Rojo and San Juan. The municipality of San Juan had their worse score on record this year.

Rincon and Quebradillas returned to the A group this year. There were new municipalities on the bottom 10 this year, like Mayagüez and Toa Baja. Coamo, Gurabo and Vega Baja were the municipalities that deteriorated the most, while Maricao, Añasco, Peñuelas and Salinas were the ones that improved the most.

Some 42 municipalities, 58 percent, stayed the same; 12, 17 percent, worsened; and 18, 25 percent, improved their grade.

“Due to the unstable situation in Puerto Rico, we expected a greater deterioration of municipal finances, particularly when this is the first fiscal year after Hurricane Maria. However, the numbers reflect that municipalities, in the aggregate, substantially improved their fiscal indicators. This means that, for the most part, municipalities exercised fiscal discipline in 2018,” said Arnaldo Cruz, founder and president of ABRE Puerto Rico.

Cruz said that although this year saw great improvements with fiscal indicators in the short-term, this does not change the long-term

financial position of municipalities in Puerto Rico.

Even after a good fiscal year, about half of the municipalities still have a negative fund balance, and almost half still depend on central government revenues.

In municipalities such as Lares and Las Marías, more than 80 percent of operational revenues come from the central government. Around 65 percent of municipalities have a negative net financial position.

“The unexpectedly favorable aspects are, without a doubt, encouraging, and could be an indication of a new fiscal discipline due to the challenging scenario municipal executives are facing, but it is not enough to change the general panorama of municipal governments in Puerto Rico. Fiscal and financial management at the municipal level remains a pressing issue on the island,” Cruz explained.

This year, six municipalities did not provide their information on time and thus were not part of this edition: Arecibo, Cidra, Culebra, Maunabo, Santa Isabel and Vieques.

To read the full report please visit: www. theweeklyjournal.com

The unexpectedly favorable aspects are, without a doubt, encouraging, and could be an indication of a new fiscal discipline due to the challenging scenario municipal executives are facing, but it is not enough to change the general panorama of municipal governments in Puerto Rico. Fiscal and financial management at the municipal level remains a pressing issue on the island. -Arnaldo Cruz, co-founder and president of ABRE Puerto Rico

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Puerto Rico Eyes Lucrative Destination Wedding Market Wedding tourism a $16 billion industry in the U.S. Rosario Fajardo

D

rfajardo@wjournalpr.com

@RosarioWJournal

estination weddings are in vogue, and as with all things fashionable, Puerto Rico aims to be at the front and center.

The Caribbean paradise landscapes overlooking the sea, the colonial architecture of Old San Juan, the green of the mountains and the climate of the tropics are just some of the attributes that more and more couples from abroad are taking into account when choosing to have a destination wedding, according to a local event coordinator, Hayxanair Hernández Sánchez.

“It’s amazing to see how more couples choose our island; not only for its natural beauty, but for other attractions that include our history, our geographical location and our festive and gastronomic culture. They are looking for a place where, in addition to their wedding, they can vacation as a family and here they find a complete experience,” she said.

An estimated 25 percent of all weddings are now

destination weddings, and the estimated spending wedding, which usually has fewer than 50 guests, for this tourism niche market is $16 billion in is less than $20,000, not counting the honeymoon the U.S. mainland, according to various industry packages. sources.

Thus, assuming Puerto Wedding tourism refers to Rico attracts 1,000 of these couples who, along with their destination weddings every year, family and friends, travel to the economic impact would be exotic destinations like the at least $20 million a year for the According to Caribbean to tie the knot. island. industry experts, the Couples pay for individualized Another local event cost of a destination wedding packages—often paired coordinator, María Lugo, said wedding, which with a honeymoon package— that on a good year, she has usually has fewer while guests are expected to had more than 40 destination than 50 guests, is pay for their own travel and wedding clients in Puerto Rico. less than $20,000, accommodation expenses.

Both Lugo and Hernández not counting According to Travel Bash, a said that business was the honeymoon travel boutique company based understandably slow after packages. Thus, in Florida, most of their clients Hurricane Maria in 2017 but assuming Puerto stay for five to seven days at has been picking up steadily.

Rico attracts 1,000 the wedding destination site to “The vast majority of couples of these destination maximize their vacation time. come from the United States. weddings every year, The phenomenon has They want personalized service the economic impact grown in recent years as a and are very clear in their ideas. would be at least $20 less expensive alternative to Here they have the confidence million a year for the traditional weddings. Based that everything will be within island. their reach so they do not on data from The Knot, the hesitate to invest in our island. “all things wedding” website, In fact, the agenda has been a traditional wedding in the so dynamic that we already have weddings and U.S. costs nearly $34,000 for a guest list of about events scheduled for 2021 throughout the island.

100 people. By contrast, the cost of a destination

In fact...

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2020 is also very active [for destination weddings],” Hernández said.

Among her clients’ favorite wedding places are hotels such as El Convento, La Concha and the Vanderbilt, as well as other private properties that offer various natural and beach settings in Rincón, Aguada, Río Grande, Luquillo, Arecibo, Isabela, Trujillo Alto and San Juan, among others.

Hernández added that the autumn and winter months are the most popular times for wedding celebrations in Puerto Rico. Due to the favorable climate of the island, in contrast to the cold winter up north, many couples take advantage of the warm temperatures and the greenery of the landscape to get married in Puerto Rico and stay for their honeymoons, she said.

TRYP’s new target market

With an investment of $3 million, the TRYP by Wyndham Isla Verde hotel has renewed itself and is looking to reach wedding destination clients who want to have the ceremony and reception in the same place, but with different scenarios.

“We completed the remodeling of five meeting or event rooms with capacity for 200 people. The 2,400-square-foot space in the penthouse has as its main attraction its large glass windows. Through them you can see a spectacular view of the Atlantic Ocean,” said Consuelo Carrero, general manager of the hotel, who highlighted the service quality of the renowned brand.

Wedding ceremonies can be held on the fifth floor of the hotel where guests will find a beautiful outdoor terrace, also with a tropical setting, followed by reception activities on the top floor.

“We understand that with this aesthetic investment we have great growth potential. After Maria, the entire hotel industry has had to reinvent itself and return to work with new marketing strategies. We seek to make the hotel more

attractive and achieve customer loyalty,” Carrero said.

The executive projected an increase of about 50 percent in the immediate income of the hotel by actively promoting destination weddings, as well as other activities. “We’ve already seen an increase in the demand for social events in these months, although we cannot compare it with last year’s, when we had been receiving many clients from FEMA and the [federal] government. We expect a good high [tourism] season in March and April,” she added.

Hotel TRYP by Wyndham Isla Verde is actively seeking to attract destination weddings. >Courtesy Wyndham

>Photos Courtesy of Nayas’ Event

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Economic Development Secretary Discusses Progress, 2020 Outlook Secretary Manuel Laboy acknowledges government’s hits and analyzes areas for improvement

A Giovanna Garofalo

ggarofalo@wjournalpr.com

@giopgarofalo

s the decade comes to a close, the Department of Economic Development and Commerce (DDEC by its Spanish acronym) identifies the emerging industries expected to grow and looks back at some of the most impactful economic development programs and reforms implemented in Puerto Rico within the last two years amid fiscal and sociopolitical challenges.

DDEC Secretary Manuel Laboy foresees positive developments in the local economy, particularly on the medical cannabis industry if the federal government legalizes its use. Last week it was revealed that the U.S. House Judiciary Committee approved a bill to remove marijuana from Schedule 1 from the Controlled Substances Act, which has a high chance of being approved in the Democrat-controlled House, but less so in the U.S. Senate, controlled by the Republican party.

Although this federal legislation would effectively decriminalize marijuana for both medical and recreational use, the DDEC secretary focused on the bill’s potential to impact the island’s medical cannabis and medical tourism markets.

“After medical cannabis is legalized federally, it will open the market because right now its limited to Puerto Rico, and that in itself brings banking, financial and employment problems. But now that it is being discussed at a federal level, Puerto Rico is well-positioned to generate a greater boom,” Laboy said.

Moreover, the local government is also betting on hemp—one of the varieties of the cannabis plant with a lower THC level than marijuana—to bolster the island’s farming sector. According to Laboy, the local Department of Agriculture will introduce a plan before the U.S. Department of Agriculture (USDA) to incentivize that

underdeveloped market. “I hope that by 2020 hemp will have a tremendous boost in Puerto Rico in conjunction with medical cannabis, especially if medical cannabis is legalized federally,” he added.

In addition to these sectors, Laboy highlighted the administration’s emphasis on creative industries, such as sharing economy, sports betting, eSports and fantasy leagues. He also observed that the Public Energy Policy Act approved earlier this year establishes the mechanisms for Puerto Rico to generate 40 percent of its energy from renewable resources by 2025, give up coal energy generation by 2028, and to be powered completely by renewable energy by 2050. Laboy said that because of this law, Puerto Rico has a profitable renewable energy industry to explore.

2020 Business Environment Outlook

THE WEEKLY JOURNAL asked Laboy to discuss how his administration intends to carry out its economic development plans in light of the multiple fiscal and political challenges that have impacted the island’s image of reliability to entrepreneurs and investors. Apart from an

economic recession, in the past years, political and financial segments have been toppled by the declaration of the island’s multibillion-dollar public debt, the federal government’s appointment of a Financial Oversight and Management Board by means of Promesa, the Zika virus epidemic, two devastating back-to-back hurricanes in 2017, mass migration and the summer protests which culminated with the resignation of Gov. Ricardo Rosselló and other high-profile officials.

“All of those events do have an impact on Puerto Rico’s image from the perspective of doing business and attracting investment, but the key is how we manage it,” the DDEC secretary responded.

“The first thing is that we have established are communication channels and very close relations with the private sector. We have had frequent meetings—not only with companies but also with investors and entrepreneurs… Particularly in the summer, when the political crisis was happening, we gathered them here; we held several meetings with them to try and give them a little certainty and direction as to what was happening. The relationship with the private sector is very important, as is communication,” he added.

Significant Expansions 2017

El-COM (150 direct jobs) Syngenta (42 direct jobs) Boston Scientific (112 direct jobs) Neolpharma (150 direct jobs)

2018

Linkactiv, Commsense, Sellbytel (3000 direct jobs) Honeywell (50 direct jobs) Copan Diagnostics (100 direct jobs) Air Master (550 direct jobs) CDI Labs (136 direct jobs) Softex (70 direct jobs) Sartorius (300 direct jobs) Switzerland Dairy (60 direct jobs) Original Footwear (200 direct jobs) PuraCap (109 direct jobs)

Stryker (38 direct jobs) SunColors (70 direct jobs) Pan Pepín (36 direct jobs) Nelipak (50 direct jobs) Kastech (50 direct jobs) Rock Solid (100 direct jobs) Multi-Axis (100 direct jobs) Pratt & Whitney (250 direct jobs)

2019

Honeywell (100 direct jobs) Point Blank (550 direct jobs) SNC (400 direct jobs) Valmeg (70 direct jobs) PR Aluminum (115 direct jobs) Romark (200 direct jobs) GK Pharma (300 direct jobs) Source: DDEC

/ Wednesday, November 27, 2019

Laboy noted that despite these hardships, some sectors have experienced speedy recovery or even growth, such as construction, tourism and manufacturing. He also highlighted several companies, local and foreign, that have recently announced expansions, such as Honeywell Insurance, Switzerland Dairy, Boston Scientific, Lufthansa, Aluminios de Puerto Rico, Sartorius, Pan Pepín, Collins Aerospace, Stryker Corporation, Romark Pharmaceuticals, LinkActiv and Boehringer Ingelheim.

The official also acknowledged that there is “a lot of work to do” ahead of the following year. He stated that to offer the “best optimal business climate,” the government needs to reduce its bureaucracy, lower the cost of doing business to improve the island’s competitiveness, prioritize local entrepreneurship and small- and midsize businesses and reinforce the island’s decaying physical and intangible infrastructure.

Regarding bureaucracy, Laboy informed that the DDEC is in the process of establishing structural reforms to ease the process of making business in Puerto Rico. He asserted that the most pressing concern is the permitting process.

Back in July 2019, the DDEC announced a project to revitalize the former Roosevelt Roads Naval Station in Ceiba, which included the installment of a privately-operated micro-grid to provide energy to that area and a housing assistance program available to the region’s elderly population. These initiatives, which Laboy highlighted during the interview, entail a combined investment of $25 million and were estimated to create roughly 800 direct jobs.

“If you improve infrastructure and you improve the business climate, combined with the incentives that Puerto Rico has to offer, and with our location—our relationship with the United States—as well as the Puerto Rican talent, we will lure in more businesses. If we improve the visitor’s experience, our infrastructure and our image, the [Destination Marketing Organization] will do its job of marketing Puerto Rico [as a tourist destination].

But without a doubt, entrepreneurship is key for Puerto Rico to keep moving forward,” he stated.

Laboy also recalled that in 2017 his agency established the Integrated Economic Development Plan. The agency’s strategic plan divides the island’s economic market into nine strategic

DDEC Secretary Manuel Laboy foresees positive developments in the local economy. >Archive

sectors: agriculture and agribusinesses, manufacturing, aerospace, technology and innovation, creative industries, blue economy, green economy, the exportation of services and the visitor economy.

This plan saw its origins in the Plan for Puerto Rico but evolved after the impact of Hurricanes Irma and Maria in order to include funds provided by the U.S. government through the Federal Emergency Management Agency (FEMA) and the Community Development Block Grant Disaster Relief Recovery Program (CDBG-DR), as well as the tax incentives offered through the Opportunity

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Zones program that was incorporated to the Puerto Rico Incentives Code last summer.

“After the hurricanes came, the CDBG-DR component played an important role because we are working on eight economic development programs there. From small-business financing to incubators and accelerators, energy and agriculture—there are several programs,” he said.

Laboy also deemed Acts 20 and 22 to be pivotal to Puerto Rico’s growing business environment.

The Export Services Act and the Individual Investors Act, 20 and 22, respectively, were created in 2012 but have garnered more discussion in the media after the hurricanes due to the government’s “Build Back Better” recovery plan.

Laboy had previously cited a study conducted by Estudios Técnicos Inc., which found that these acts have led to 36,222 jobs from its conception until mid-2019. Regarding Act 20, the DDEC secretary noted that 35 percent of its beneficiaries are local companies, while 35 percent of Act 22 beneficiaries have already begun businesses in Puerto Rico.

“The previous study, presented in 2016, revealed that, at that time, 7,400 jobs had been generated and the projection in 10 years was to create 56,601 jobs. On the other hand, by 2015, the investment totaled around $500 million. This new report showed that this line increased to $1.2 billion. These results are very positive because they show that this law is fulfilling its task of promoting the economic development of Puerto Rico, exporting the services and/or products that we generate on the island,” Laboy stated when he revealed the study’s findings.

Now that these and other initiatives are incorporated in the Puerto Rico Incentives Code, Laboy affirmed that his agency will continue boosting the island’s economic sectors in a more “cohesive way” and with “greater transparency” and “fiscal responsibility.”

The official also praised the decision to create a destination marketing organization (DMO), Discover Puerto Rico, to advertise the island as an attractive tourist destination to foreign markets. Both the DMO and the Puerto Rico Tourism Co. (PRTC) have reported an upsurge in Puerto Rico’s visitor economy due to higher air passenger traffic, more big-scale cruise ships arriving at Puerto Rico’s shores and a boost in meetings and conventions.

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Puerto Rico’s Hemp Industry Growing Roots P.R’s tropical climate makes the island an ideal home for this industry, since it allows up to three crops a year Yennifer Álvarez Jaimes

T

yalvarez@wjournalpr.com

@yalvarezjaimes

he Puerto Rico Department of Agriculture estimates that by 2020 there will be at least 10,000 acres of hemp cultivated in Puerto Rico for commercial purposes.

The director of the Office for Licensing and Inspection of Hemp of the Department of Agriculture, Irving Rodríguez, said that the local government needs to submit a plan before the United States Department of Agriculture (USDA) by January.

“After that we will move on to the commercial

phase. There are already farmers with thousands of acres waiting,” the official said.

He anticipates the development of products such as cooking oil, milk or hemp juice, hemp blocks (hempcrete), animal feed, clothing, medical treatments and CBD items.

New Frontier Data, the authority in data analytics and business intelligence on the global cannabis industry, reported that U.S. hemp revenue is predicted to reach nearly $6 billion in sales by 2020.

Hemp or industrial hemp is a variety of Cannabis that contains less than 0.3 percent of THC content by dry weight, whereas marijuana is a variety that contains more than 0.3 percent of THC by dry weight and can induce psychotropic or euphoric effects on the user. Hemp and marijuana both derive from the Cannabaceae family. Hemp and marijuana therefore share certain similarities, but there are key differences.

The U.S. 2018 Farm Bill redefined hemp as an agricultural commodity, removed hemp from the Controlled Substances Act and the jurisdiction of the Drug Enforcement Administration, and allowed for a massive expansion of economic opportunities

across all sectors of the hemp industry. Marijuana continues to be classified as a Schedule I controlled substance by the Drug Enforcement Administration pursuant to the Controlled Substances Act. Less than a year after the change to the hemp classification, industrial hemp was legalized and Puerto Rico’s tropical climate makes the island an ideal home for this industry, since it allows up to three crops a year.

The Office for Licensing and Inspection of Hemp of the Puerto Rico Department of Agriculture projects the granting of 50 manufacturing licenses, whose effect “could represent about 100 to 150 million dollars for the treasury.”

The island is currently in an investigation phase, and the Office for Licensing and Inspection of Hemp has granted 30 harvest licenses and seven manufacturing licenses.

The Puerto Rico Department of Agriculture issued the first licenses to start growing hemp last September, eight months after former Governor Ricardo Rosselló signed an executive order supporting the hemp industry.

Hemp producers who cultivate in accordance with USDA guidelines are eligible for participation in certain USDA programs in 2020. >Archive

13 < The Weekly Journal > Wednesday, November 27, 2019

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Last Minute Changes to the Tax Reform

Taxpayers will have to file under these new tax laws come April 2020 Ileanexis Vera Rosado

T

ivera@elvocero.com

@iverarosado

he last-minute changes to the proposed tax reform are mere technicalities that will not affect the taxpayer come next April, said CPA Kenneth Rivera.

The five percent credit will remain for those who file as an individual, while the 39 percent tax for corporations will be reduced to 37.5 percent.

Another change in the tax reform is that companies whose volume lies between $3 million and $10 million, can choose between filing an Agreed Upon Procedures Form or a Compliance Attestation created by a CPA as opposed to audited financial statements.

With this measure, the Department of the Treasury hopes to reduce the quantity of financial reports it receives by 75 percent.

According to their most recent statistics, from 2012, they receive around 2,000 statements annually, a number they wish to reduce to 500.

Rivera went on to say that this measure worries him because not many accountants have clients whose sales volume reaches $10 million.

“This amendment harms individual

CPA Kenneth Rivera says the 39 percent tax for corporations will be reduced to 37.5 percent. >Archive

accountants and small firms whose clients do not have sales volumes close to $10 million. This amendment was not part of the plan proposed on Tuesday night and showed up out of nowhere.

Now we have to wait and see if the governor will sign off on it,” said Rivera.

He went on to say that this measure also affects the Treasury’s credibility in as so far as audits.

Carlos González, another CPA who talked to THE WEEKLY JOURNAL, and who works as an

accountant for many small business, agreed with Rivera.

“This measure will harm my main source of income and my business in such a way that I may be forced to close my firm and look for another job, not an easy thing to do. The reality is that my situation isn’t the exception but the norm,” stated González, who also mentioned that this amendment was created to benefit a specific sector.

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/ Wednesday, November 27, 2019

Local Merchants Offer Discounts Ahead of Black Friday During Orange Wednesday there will be discounts on products and services

P

Yennifer Álvarez Jaimes

Enid Monge, president of Empresarios por Puerto Rico. >Courtesy Empresarios por Puerto Rico

yalvarez@wjournalpr.com

@yalvarezjaimes

uerto Rico will celebrate Orange Wednesday on Nov. 27, ahead of the traditional Black Friday, so that consumers have the opportunity to check out what local stores have to offer while investing in the local economy.

More than 1,000 local shops throughout the island, from pharmacies to hardware stores, florists and cooperatives, will offer discounted prices on products and services on the eve of Thanksgiving Day as part of a campaign to promote local business.

Orange Wednesday is also an educational campaign to raise consumer awareness about the importance of supporting Puerto Rican businesses, services and products. Consumers will be able to recognize participating shops through their orange decor.

In previous years, Orange Wednesday participants have reported a sales increase of 10 to 25 percent, according to Enid Monge, president of Empresarios por Puerto Rico (Entrepreneurs for Puerto Rico).

“Black Friday is a strategy to move businesses

from negative red to positive black. For us, the way to change our negative economy to a prosperous one is to drive local business up.

That’s what Orange Wednesday means,” Monge added.

The president of Empresarios por Puerto Rico said that buying local generates almost four times more money for the economy than when a foreign business is supported.

“Our merchants and their employees live here and, therefore, their earnings stay here. So, whatever you are going to buy - food, clothing, furniture, transportation, school products or items for your next party - look for it in a local store. Put your money in Puerto Rico,” she added.

In Puerto Rico, small and medium-sized enterprises (SMEs) make up 92 percent of all retail businesses. They account for 39 to 44 percent of sales in the retail sector, according to the Trade and Export Company.

Local businesses, which in their vast majority are SMEs, are the largest employer in the country and the biggest contributor to the economy.

Last year, Estudios Técnicos revealed the findings of a study about the social and economic impact of local businesses in Puerto Rico. Commissioned by Empresarios por Puerto Rico, the survey revealed that 96 percent of all business on the island are local. They generate 83 percent of jobs and account for 68 percent of the GDP. Retail businesses were the number one creator of jobs and the third largest sector of the economy.

16

/ Wednesday, November 27, 2019

Cofina Payment to Bondholders Still Isn’t a Sure Thing Experts foresee a decrease in tax collections

E Christian G. Ramos

cramos@elvocero.com

@cramossegarra

ven though the government was able to recoup $436 million from the sales and use tax with which to pay back Cofina bondholders, experts that THE WEEKLY JOURNAL spoke expressed that there was still a decrease in sales and consumption that may eventually impact how much is collected, thus negatively affecting bondholder repayment.

Last February, Judge Laura Swain approved a measure which earmarks, for the next 40 years, 5.5. percent of the monies collected from the sales and use tax toward the payment of creditors, in order to restructure 24 percent of the debt. Shall at any point the amount collected not be enough to cover the payment, the government must use money from its coffers to satisfy the totality of the payment.

Omar Marrero, executive director of the Puerto Rico Fiscal Agency and Financial Advisory Authority (Aafaf by its Spanish Acronym), stated that the second payment to Cofina bondholders will occur at around this date in 2020, although his projections are based on similar tendencies to the ones seen up until today.

Even though Marrero is betting on fiscalization and an increase in sales, business owners believe that sales will decrease in the coming year.

“Depending on what happens with the sales and use tax, we should be emitting the second payment around this same date. We were able to make the payment this year because of our efficient fiscal measures, which in turn led to higher collections and a surplus of $362 million, which can be used to increase the health, education and security budgets,” said Marrero.

The decrease in sales that Báez is referring to has been documented in the treasury’s Net Income Report. According to this report, during this same trimester last year, the treasury had recouped $299.8 million, whereas this year the amount collected was $287.8 million.

These results were backed up by a study performed by José Alameda and meant to be turned in to Judge Swain. The judge, however, did not allow the report, which specified that collections would decrease due to the mass exodus occurring in Puerto Rico, to be part of the record.

Alameda also stated that the government may have to increase the sales and use tax, as well as other taxes, to be able to meet its financial responsibilities.

“The national income has decreased and will continue to decrease. The government is going to put more pressure on the taxpayer by increasing taxes,” he continued.

Economist Santos Negrón went on to say that this agreement compromises a substantial portion of the island’s income and that in order to meet fiscal obligations without much difficulty, it is necessary to have a period of significant economic expansion. He also stated that in an economy as weak as Puerto Rico’s there cannot be systematic increases in tax collection, which is why he also

foresees a heavier tax burden on locals.

Jorge Argüelles, president of the United Retailers Center (CUD by its Spanish acronym), told THE WEEKLY JOURNAL that he doesn’t foresee these payments being executed in the long-term.

“There has been a decrease since last year.

The increase experienced in 2018 was a result of the federal funds and reimbursements received.

Once that money stopped flowing, sales started to go down, which, in turn, affects sales and use tax collections,” said Argüelles.

“To further complicate matters, reducing the sales tax to 7 percent on prepared foods will also hurt collections,” added Argüelles.

On the Right Track

For economist Gustavo Vélez, this payment of approximately $436 million represents a step in the right direction with regards to the debt structuring and the way back to the markets.

“We need to gain back the trust of investors but we need this to happen hand in hand with a fiscal adjustment that allows the economy to improve so that other bond issuers can also pay back the debt,” he said.

Vélez also said that payment continuity will depend on the establishment of a sound economy through structural reform and fiscal adjustments.

Business Owners Speak Up

According to Iván Báez, president of the Commercial Retailer’s Association (Acdet, by its Spanish acronym), sales in the retail industry are down 4 percent when compared to this same date last year.

“The economy is not as healthy or solid. Retail sales are down 4 percent when compared to this date last year. There are many things affecting sales,” said Báez.

Omar Marrero, executive director of the Puerto Rico Fiscal Agency and Financial Advisory Authority (Aafaf by its Spanish acronym) and chief financial officer of the government of Puerto Rico. >Carlos Rivera Giusti

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/ Wednesday, November 27, 2019

Puerto Rican Magnate

Encouraging Young Entrepreneurs Prominent millionaire Orlando Bravo donated $100 million to incentivize the island’s economy

A Christian G. Ramos

cramos@elvocero.com

@cramossegarra

fter conquering the world of investing and positioning himself as one of the most prominent entrepreneurs of the United States, Puerto Rican Orlando Bravo – one of the wealthiest 400 people of the nation- is looking for 12 Puerto Rican entrepreneurs to encourage through a $100 million donation.

Mayagüez born and bred, Bravo is the founder and managing partner of Thoma Bravo, a leading private equity investment firm that specializes in software and technology businesses. The Thoma Bravo portfolio includes more than 200 software and technology companies that represent over $50 billion in value. These generate over $11 billion in sales and employ over 35,000 people.

Bravo mentioned that through his organization, the Bravo Family Foundation, he has created a program called Rising Entrepreneurs, mean to empower and assist young entrepreneurs. He wishes to provide these entrepreneurs with the contacts and backing of his firm, while imparting the knowledge he has gained through the years.

He explained that technology is the future, and that Puerto Rico has the potential to become a leader within the Caribbean and the Americas.

“This program is unique. We will be imparting our philosophy and business knowledge to young entrepreneurs in Puerto Rico. This is a successful business model that creates solid enterprises that earn worldwide respect. These entrepreneurs will learn the formula we employed to build $500 million enterprises. They will have access to our team, to over a million of our clients, to our capital and investments,” said Bravo.

He went on to explain that there will be a yearly application process and that those selected will receive an initial grant of $30,000 in order to begin their business.

The current application process closes on Dec. 6 and those chosen will have to move to Mayagüez, where Bravo’s hub is located.

“We want to select 12 projects. It will be an extensive educational experience at which they will learn how to succeed in running a business.

We want them to finish the course feeling secure in their success. We need to start small so that we can provide a personalized experience,” explained Guiomar García, executive director of the Bravo Family Foundation.

García went on to say that 30 entrepreneurs will be invited to present their business proposal to a panel of professionals who will then choose the lucky 12 who will take part in the program.

“During the first stage of the program they will take part in a two-week training course. After that, they will meet with six Thoma bravo executives who will offer their perspective and feedback,” she stated.

After this initial phase, the entrepreneurs will spend 10 weeks at their hub in Mayagüez so that they can further develop and polish their business plans. At the end of the program, those who stand out the most will receive an additional incentive.

“We have received applications from people from all over the island; from San Juan, Bayamón, Mayagüez, Naranjito and the middle of the island.

We have even received applications from people who are in Florida…The applications are very diverse and the ideas pertain to a great variety of industries. We have seen projects related to technology in agriculture, gaming, medicine and math programs, among others,” said García.

Bravo added that the program’s participants will have access to Wall Street and Silicon Valley executives like David Murphy, former president and COO of Blue Coat Systems, a leader in enterprise security recently acquired by Symantec; Charlotte Muellers, managing director at PSP Investments USA, owners of the Luis Muñoz Marín Airport; and Lenny Blum, from JP Morgan.

“If they need help with development, we will

Orlando Bravo, 49, is the driving force behind Wall Street’s firm, the $39 billion (assets) Thoma Bravo. >Courtesy Thoma Bravo.

meet with Google. If they are in the business of artificial intelligence or business intelligence, we have companies devoted to that in our portfolio.

It doesn’t matter if it’s manufacture, agriculture or technology, we will adapt in order to present it to the world,” assured Bravo.

He went on to say that once the businesses are up and running, the foundation will continue to monitor the progress in order to assure success and effective money management.

“This is our strong suit, and we are confident in our choices. However, we want to continue to monitor and assist these entrepreneurs. Our goal is to have all of our groups launch their services or products, and for that to happen it is vital that we provide support in the months after they exit the program,” said Bravo.

In order to participate in the program, log on to www.bravofamilyfoundation.org and fill out an application. The deadline is Dec. 6 and the winners will be announced in Jan. 2020. The courses will begin in Feb. 2020 and run through May 2020.

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/ Wednesday, November 27, 2019

NICK PASTRANA, JD

San Juan Realty Group President

Real Estate as an Export

I

n order to specialize and therefore grow their economies, countries need to find products in which they have a comparative advantage. Switzerland has its watches, Spain has wine, Japan its cars, Belgium its beer and for Cuba it’s Cigars.

This is one of the oldest economic and international trade theories, introduced to the mainstream economic discussion and study by British economist David Ricardo in the19th century. A country should always allocate its resources to produce goods and services for which it has a comparative cost advantage and a lower opportunity cost.

If you ask me, Puerto Rico has two obvious comparative advantages.

First, its people. Second, oceanfront and mountain land. Puerto Rican people and culture is the main attraction, what catches the eye of the world. Land is the way to monetize it.

Puerto Rico has a lower opportunity cost when producing real estate for the world because ocean views and mesmerizing surroundings add intrinsic value to any real estate asset. Compare it with Dubai, where entire islands had to be built from scratch in order to create such value. So, by providing real estate to the world, Puerto Rico can offer it at a better price and compete more aggressively. After all, it is located under the U.S. flag

which adds to its value.

Creating new developments for the rest of the world will not only reactivate our stagnant construction industry but it can derive a steady income of new money to be inserted to the economy through property taxes. The impact created by new developments will also reactivate other industries like the manufacturing of cement, which can be produced locally, helping to lessen its import and even exporting it like Puerto Rico used to do.

Puerto Rico’s real estate market will be welcoming a new aggregate demand comprised mainly by the international luxury property owner, the retiree, the diaspora and the long term capital preservation investor.

This added global demand will inevitably produce price resiliency because property values will no longer be tied to the performance of the local economy.

After an economic or financial crisis, global real estate markets tend to rebound fast and to stronger and larger demand. As an example take Miami’s Brickell Avenue where prices rebounded aggressively after the 2008 mortgage crisis.

In summary, we live in a globalized world and should, therefore, focus our efforts on areas where we can create lots of value quickly because of comparative advantages provided by nature and our relationship with the United States.

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19

/ Wednesday, November 27, 2019

By Waleska Rivera

By Manuel Cidre

CEO Danosa Caribbean Inc. Board Member ICSE-PR

Entrepreneur & Founder of Los Cidrines

A

Raising salaries without addressing structural problems

The legislature will consider on January to increase the minimum wage to $8.50 in 2020 and $9.50 by 2023.

I am absolutely convinced that there was no deep analysis and that the re-election of the legislator ahead of the 2020 elections weighed more.

We must analyze the per capita income of Puerto Rico in recent years.

The per capita income for 2018 was $31,651, an increase of 0.95 percent over 2017; $31,353 in 2017, an increase of 2.37 percent over 2016; $30,629 in 2016, an increase of 2.91 percent over 2015; and $ 29,764 in 2015, an increase of 2.7 percent over 2014.

If the GDP will represent the right salary to live properly, which by the way, is not the case in P.R., there is a difference of approximately $15,000 annually with a salary of $7.25 an hour and $13,000 based on $8.50 an hour.

Does the proposed increase address this reality? The answer is no. It seems to be another patch, like the labor and tax reform that we all know never really reforms.

Achieving an hourly wage justice project requires reducing the cost of doing business in P.R. first. Because if we do not have low business costs it is very difficult to achieve economic development, and without economic development there are no jobs, and if there are no jobs then what’s the point of higher pay if businesses won’t be hiring!

The cost of energy is one of the biggest costs of doing business for the public and private sector. It should be a priority to lower the kilowatt hour to 12 cents and that way we could use those savings to significantly improve hourly wages.

Another relevant factor is the size of the government and its 78 municipalities, a reform in that direction is imperative. Projects such as regionalization and the merger of agencies, among others, should be addressed with agility.

Social programs should be transformed. Hourly employees cannot access most of the social aids

because they are working or do not qualify and/or lose the acquired rights.

This situation causes many to give up working or seeking employment, inserting themselves into dependence and reducing the percentage of labor participation, which today is around 39 percent, when the world average is 65 percent.

A social reform that instead of giving, manages to stimulate work through a differential that encourages work and reduces dependence. For example, instead of sending money for the participant to use in specific sector, we could use part of those monies to give the employee a type of incentive for hours. For instance, if he earns $7.25 an hour, he would receive $5.00 per hour as an incentive for a total of $12.25 per hour. This single action would raise wages from $15K to $26K annually. I am sure that our people will prefer to work because they would earn more money. In addition, they will be able to manage their budget properly and not buy for buying as they will have more control. It is important to clarify that this would apply only to people fit to work, the other participants would receive their help normally.

To be a competitive country, P.R. needs a deep labor reform that does justice to the employee and that, among others, eliminates laws that only seek the perpetuity of the politician and the protectionist laws that the responsible Puerto Rican worker does not use and that do not allow a fair pay for adequate time.

We need a labor reform that promotes productivity, efficiency and competitiveness, a system of bonuses in the public sector tied to the country’s results in things like growth in gross domestic product or reductions in efficiency expenses to name a few.

A bonus in the private company based on transparency, where the employee can participate in the results and that his/her bonus is not something imposed, often below what it should be and sometimes above what it can be.

To read the full column, visit

O

Unexplainable RSA, Unsustainable Energy System

ur entire island has one need in common: affordable and reliable energy.

Whoever wants to debate this premise must remember the months without power after Hurricane Maria. Those of us who for decades have run businesses besieged by the burden of high energy costs, know that our government’s third attempt to restructure the electrical system’s bad debt with a costly Wall Street scheme known as the Restructuring Support Agreement (RSA), will make us plummet into a bottomless abyss.

The complexity of the RSA can make our heads spin. To begin to understand the intricacies of the pact we must mention that for decades the Puerto Rico Electric Power Authority (PREPA) and other agencies issued billions of dollars in bonds impossible to repay.

The magnitude of this debt is like an anchor, weighing us down to the point of immobility, giving way to unsound agreements, like the RSA structure, which has proven to be extemely costly in addition to legally and economically unsustainable.

When we untangle this intricate agreement, it is clear that the priority is not the island’s public interest. The deal includes PREPA; Bondholders; the two-year-old Federal Oversight and Management Board (FOMB) and a new Puerto Rico government agency. The new and longstanding obscure economic and political interests must restructure a massive $10 billion PREPA legacy debt with a bankruptcy reorganization agreement that federal Judge Taylor Swain must confirm. It is clear that 90 percent of the hedge fund and bond insurance companies that own the debt have proposed an average 25 percent cut on the debt, which must have been a difficult task. Yet, what is the cost of the terms this RSA will need to prove it is sustainable?

The RSA structure is so complicated and unsubstantiated that Judge Swain has objected to this attempt to reorganize the debt. In hearings scheduled for Jan. 2020, she has advised she will only hear arguments about the proposed average adjustment to

the debt being minimally reasonable or not. The Puerto Rico Institute for Competitiveness and Sustainable Economy (ICSE-PR) has been a sound voice against this poor deal that puts the entire burden on impoverished people, working class families and businesses that struggle to pay uncompetitive energy tariffs.

The entire industry and private sector oppose the RSA deal structure because sound analysis by renowned economists in Puerto Rico and abroad confirm that if the agreement goes into effect we will live an economic and social catastrophe.

Incredibly, the proponents of the RSA object this economic analysis yet neither have proposed or conducted an alternative evaluation of this deal.

The alternatives to the debt and PREPA reorganization must include immediate professional governance and management oversight of PREPA, which currently hinders progress inside and outside of the bankruptcy court.

Furthermore, there is no ongoing consumer interest and tariff cost oversight of the uncontrolled consulting and legal fees around the RSA structure.

The reasons as to why this agreement is unsustainable against Puerto Rico’s government debt repayment are endless. However, we must understand what is at stake, because the ultimate result of the approval of this flawed reorganization would be crippling uncompetitive electrical tariffs of around $.30kwh, which would trigger the loss of thousands of jobs.

The RSA also seeks to eliminate local laws and policy established prior to PROMESA in support of competitive, independently regulated private generation. It will also deregulate charges to a generation class and market that existed prior to bankruptcy and this is illegal and immoral. After the hurricane, it is obvious that PREPA’s centralized system was unable to provide security and life after the devastation. Beyond the illegality and unsustainability of this agreement, we know as a fact that there is an urgent need for resilient and sustainable power at a reasonable cost.

For U.S. citizen taxpayer dollars, it still is a dozens of billions of dollars natural disaster mitigation liability cost to be resolved.

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/ Wednesday, November 27, 2019

Good Times at Sports Park

Eco’s Fight camp followed by massages, happy hours, sports and camaraderie reign supreme

M Marimar Rosario

correccion@wjournalpr.com

@Mmar1212

ost endeavors start off with a dream and most entrepreneurs dream BIG. In the case of Victor González, those dreams entail a $25 million complex which includes a rock climbing space, a recording studio, four bars, a mini-golf course and spaces in which to play every single sport your mind can imagine.

However, every dream has to start off somewhere, and that’s where the almost 1.7 acre Eco’s Sorts Park comes in.

With an initial investment of $3.5 million, González and his wife, Viviana Thon Olazagasti, embarked in the very colorful adventure that is Eco’s. Putting everything on the line, they opened the first sports park in Puerto Rico in what used to be a parking lot of the Luis Muñoz Marín Park in

The sports park has 76 employees that González San Juan. refers to as “family members” because, at the “I want my life’s work to be Eco’s. I am giving end of the day, Eco’s is a family enterprise. His this my all. We do not receive any government mother-in-law, Marimer incentives, every Olazagasti, industrial single cent I make psychologist by trade, goes back into is the park’s Director the business,” of Human Resources; said González. his brother, Juan José With three soccer González helped finance fields, two courts the repairs needed which convert after Hurricane Maria’s from basketball to wrath; his sister-in-law, volleyball courts, interior designer Janelle three beach Thon was in charge of volleyball courts that the décor; and the solar easily convert to panels which inspired beach tennis courts, the park’s name and two paddle courts generates 95 percent of and two padbol the electricity that Eco’s courts which were recently converted uses were purchased from his father’s into areas for boot -Victor González, co-owner of Eco’s company, Windmar camp training thanks Sports Park Group. to a partnership with Windmar also boxer Juanma López happens to be the Rivera, Eco’s is every sponsor of several of Eco’s sports leagues. The sports enthusiast’s dream.

At present, Eco’s welcomes an average of 10,000 park has more than eight sports teams in which an average of 450 people play. From beach people a week, and that is without counting the volleyball to soccer, from basketball to paddleball, people that go to their theme nights and activities.

My goal in life is to build the grown-up’s version of Disney.

I want to expand Eco’s into an enormous almost 14 acre complex that will create over 500 direct jobs and generate millions for the municipal government. I will either succeed or die trying.

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/ Wednesday, November 27, 2019

night, and on Wednesdays they host a Ladies Night, Sports League which turns Schedule into a Boss Babe event Wednesday: meant to Soccer 30+, soccer 18+, bring together women’s soccer, men’s women beach volleyball, mixed entrepreneurs beach tennis, mixed on the last paddle, men’s basketball, Wednesday of women’s volleyball every month.

Wednesdays Thursday: Soccer and Thursdays Masters league 30+ there are also beer pong Friday: Flag football, tournaments women and men’s at which one leagues lucky player wins $300.

Saturday: Soccer González Masters league 40+ wants Eco’s to be about more than sports; he wants this to be a place where people connect. With that end in mind, Eco’s also host events like the Block Party, to be held on Nov. 27; the Mega Mix Party to be held on Nov. 29; and a Burger Fest to be held on Jan. 11.

“This is a place where you can meet up or reconnect with people you haven’t seen since high school; network…,” said González.

In Fact...

“Funky Joe” Vallenilla (right) along his son John Paul Vallenilla and chef José Bonilla.

Eco’s has a team for you to join. The teams play weekly games and have a tournament at the end of every semester. The cost to join varies, but, at the higher end, is the fee for a semester of being part of one of the soccer teams, which costs $140 and includes your uniform, tickets to events held at Eco’s, a guarantee of playing 14 games and free alcoholic beverages after the semester’s final game.

More Than Just Sports

González’s vision extends far beyond sports and into the food, beverage and entertainment industries. Aside from sport facilities, Eco’s houses two bars, one with a VIP section, four food establishments and a meeting space which houses video game consoles.

The perfect space at which to host a party, the meeting space lies in close proximity to the Granito Bar on the first floor and the four restaurants.

Amongst these are Fahrenheit Pizza Express, Crush Juice Bar, Eco bites comfort kitchen and, the latest addition, Vegandillas, a 100 percent plant based enterprise which will offer vegan “empanadillas” or “vegan junk food”, as D.J. Funky Joe likes to call them.

Vegandillas, the brainchild of Jose Vallenilla, aka D.J. Funky Joe, chef Jose Bonilla from El Punto Vegano, and John Paul Vallenilla, is a spot that wants to challenge common perceptions of veganism.

“We fool carnivores!,” joked D.J. Funky Joe. “We want to improve the way that Puerto Ricans eat.”

For D.J. Funky Joe and his son, veganism is a lifestyle that has led to improved health and they wish to share their experience and their lifestyle with the world.

“We want people to try our food, just try it first, and then we will come at you with all the reasons why this is good for you,” stated the deejay.

“Through our projects, we are giving people options. We don’t want people to switch to veganism from one day to the next, we want people to try it. Say, one day a week, establish something like Meatless Saturdays!,” exclaimed excitedly John Paul.

For self-taught chef José Bonilla, Eco’s was the perfect place at which to establish this business and thankfully, the stars aligned and Vegandillas will open come December.

“Eco’s was the ideal place because it aligns with our eco-conscious concept. We want to bring attention to renewable energy and recycling...and with this being a sports park, it is conducive to a healthier lifestyle. We want to provide delicious and fun eats that don’t deviate from our traditional gastronomic tastes,” said Bonilla.

The Paradox: Family-Friendly Atmosphere and Exciting Nightlife Aside from offering perfectly maintained sports facilities and food, Eco’s hosts an array of social activities. On Mondays, they host a karaoke

>Photos by Gabriel López Albarrán

There is no entrance fee to Eco’s. However, there is a parking fee of $3 dollars imposed by the municipal government. For more information on the leagues, their events or to reserve their facilities, log on to www.ecossportspark.com or call (787) 600-4991.

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/ Wednesday, November 27, 2019

The

Pop-Up Caribbean

Museum Delights The Senses Wholesome fun for the entire family

I

Rosario Fajardo

rfajardo@wjournalpr.com

@RosarioWJournal

f you haven’t had a chance to see Caribe Social, dubbed the “first” Museo Pop Caribeño, now is the time. The temporary interactive art exhibit is still open at Plaza Las Américas mall, just in time for the holiday shopping season.

This is the “most colorful and cool” event of the year, according to organizers. The small museum, which entices the audience to interact with the colorful exhibits, take photos and share them on social media, does not disappoint, as your correspondent can attest. The space is colorful and fun. There are plenty of lights and the latest musical hits help brighten the mood. Who knew Puerto Ricans had landed on the moon?

people to have fun as they tour the more than 15 At Caribbean Social, the audience will test their different installations five senses, release with unique their creativity and experiences and photo experience various opportunities centered exhibits full of around the Caribbean,” Caribbean colors, said Jonathan rhythms, flavors, Barrios, owner of aromas and much the Stereograph more. The space has marketing agency, who over 15 art installations created the brand and for photos, videos, event with a team of boomerangs collaborators. and interactive “Caribe Social is a experiences.

- Jonathan Barrios, brand that was created “We are very excited owner of the Stereograph marketing agency, to teach and publicize to hold the event and we are eager the Caribbean, who created the brand and event to see the stories, especially Puerto Rico with a team of collaborators photos, videos and and the Dominican all the fun that Social Republic, among other Caribbean attendees sister countries. When will share on their social networks. Our goal is for we think of innovative events, social networks are unquestionably involved, and we asked ourselves, why not do something that has everything included? For us, the most important thing is that people have a fun time. Don’t forget to share your photo, video, boomerang, choreography, GIF [graphical interchange format] or meme in your networks with the hashtags #CARIBESOCIAL and #MuseoPopCaribeño,” Barrios added.

Caribe Social is located on the second level of Plaza Las Américas, in the space previously occupied by Armani Exchange. The pop up museum is open until Dec. 1. For tickets and more information, log on to www.caribespcialpr.com.

Our goal is for people to have fun as they tour the more than 15 different installations with unique experiences and photo opportunities centered around the Caribbean.

Pop-Up Museums: The New Art Trend

>Photos Courtesy of Caribe Social

Pop-up museums are all the rage and Puerto Rico is no exception.

In today’s world, where social media often reigns supreme, pop up museums, also called Instagram museums, allow the audience to interact with the exhibits. Play around, laugh, sing your heart out, strike a pose like a Vogue model and, above all, take lots of photos and share them with your many social media friends.

As with all things on social media, the more

/ Wednesday, November 27, 2019

“likes” you garner, the better for you.

The first pop-up museum reportedly opened in New York City in 2016, according to the website substance.media, a Los Angeles-based magazine on arts, culture and other edgy themes. The Museum of Ice Cream offers fun, interactive exhibits on the “universal power of ice cream.”

And yes, there’s plenty of ice cream to satisfy your sweet tooth. The Museum of Ice Cream has become so popular that organizers opened another venue in San Francisco.

Other pop-up museums that have been lauded by fans in 2019 include Wonder World in New York City, an interactive replica of Alice in Wonderland; Candytopia in Philadelphia, for fans of Willy Wonka’s magical candy factory; and Egg House in Los Angeles, the first egg-themed “multisensory experience,” that also had successful runs in New York City and Shanghai, China.

While there is ongoing debate about this new wave- some call it a genuine art form that “speaks” to the Millennial generation and brings new audiences to the art world- others say it is just another trend that panders to the new age of narcissism that has emerged, thanks to social media. Narcissus of the Greek myth would certainly be front and center in today’s social media world.

Regardless, don’t take the debate too seriously.

Have fun and enjoy the latest pop-up museum in San Juan.

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Cynthia Wiesner

Steps into the Production World After 20 years of being in charge of distributing independent films in Puerto Rico

W Claudia Guerrero Negrón

cguerrero@wjournalpr.com

@cguerreronegron

hen Cynthia Wiesner saw the kilometric lines that people would stand in to see Spanish movies at a movie festival, she thought “why don’t I

bring these to Puerto Rico?”

Originally from Ecuador, the distributor stayed on the island after she married a Puerto Rican and opened Wiesner Distribution in 2002.

The distributor then started selling foreign movies to Blockbuster, in VHS format. Then she moved on to film, later distributing movies in the Dominican Republic and Central America.

“I thought why don’t we have these all year long instead of waiting one year to see them in movie festivals?” said Wiesner to THE WEEKLY JOURNAL. The president of Wiesner Distribution, who has been one of the few to distribute independent films in Puerto Rico for the past 20 years, now steps into the production world for the first time.

The $3.3 million project “El Cuartito” came as a natural direction in her career due to her close

friendship with Argentinian Marcos Carnevale, who also directed the popular “Elsa and Fred” and “Corazón De León”.

“I worked in distribution, then in exhibition, so I think I’m ready. I have the knowledge. I don’t know if it’s the age but I needed a change,” said Weisner The comedy “El Cuartito” will tell the story of five tourists who end up stuck in a small immigration room in the Luis Muñoz Marín International Airport, as they navigate being detained.

The cast will include Mario de la Rosa, from Netflix’s “La Casa de Papel”; Puerto Rican actress Claribel Medina, who is well known in Argentina; Mexican actor Ianis Guerrero, from “Club de Cuervos”; and Dominican comedian Fausto Matta, who starred in Sanky Panky.

Cynthia Wiesner, president of Wiesner Distribution, has been one of the few to distribute independent films in Puerto Rico for the past 20 years. >Photos by Gabriel López Albarrán

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The satire, intended to make people laugh while they grow more conscious of the United States’ current immigration policy situation, will show that five individuals of different nationalities can bond and become stronger as they go through a life-altering situation.

“I wanted to explore this immigration topic because I have been in all of the small rooms. I think that from wherever you are in the world, you can do things to improve how things are, and my thing is film, so that’s why my first movie will be about this,” said Wiesner, as she recalled how the idea for the movie came to her. When she brought her proposal to Carnevale he loved it, but Wiesner had to produce it.

What I can guarantee is that this film will have international distribution, like no other Puerto Rican film has had. I have nineteen years of going to film festivals, I have all of the contacts, I have the experience.

-Cynthia Weisner, producer and president of Weisner Distribution

Wiesner wanted to explore the immigration topic while still keeping the comedy aspect, as the producer says the best formula for the most successful movies is comedy, an internationallyrenowned cast and a believable storyline.

According to Wiesner, “El Cuartito” has all three.

“Carnevale’s films have a very special place in Puerto Rico,” said Wiesner, remembering how the friendship took off when the mega hit “Elsa and Fred” broke record numbers in ticket sales in Puerto Rico, exceeding those of Titanic. The duo is already thinking about their next project, also to be filmed on the island.

Carnevale, who was on the island a few weeks ago looking for the fifth cast member to play the role of a young Puerto Rican woman returning home, also presented the project to local brand owners, presenting opportunities for product placement and exposure. The director visited a few spots on the island as he scouted for places to film the movies’ scenes.

At the moment, the film already has letters of intent for 15 different countries, including Mexico, Argentina, Spain, Croatia, Serbia, and the United States, meaning it will be distributed in these.

“We also have a letter of intent for international airlines, for an office based in Hong Kong, which is in charge of all of the Asian and European airlines,” said the producer.

“What I can guarantee is that this film will have

This is the first time that Wiesner steps into the production world.

international distribution, like no other Puerto Rican film has had. I have nineteen years of going to film festivals, I have all of the contacts, I have the experience,” Wiesner said.

The film, mostly financed with private investment, received some tax credits by the Department of Economic Development and Commerce (DDEC) with the Program of Development of the Cinematographic Industry (PDIC by its acronym in Spanish). Generating

more than 170 direct and indirect employments, the entire technical crew to be recruited will be local and led by Javier Enríquez.

Local photographer Chago Benet will be in charge of photography and all music will be produced by Eduardo Cabra, formerly known as “Visitante” from the group “Calle 13”.

The comedy’s preproduction phase will start in December and filming in January 2020. The film’s release is tentatively set for October 2020.

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Help Others in Need on Giving Tuesday Puerto Rico The island is part of a global generosity movement

T Rosario Fajardo

rfajardo@wjournalpr.com

@RosarioWJournal

he holiday season is upon us and there is no better way to give back and give thanks than to help others in need.

That was the valuable lesson that Ebenezer Scrooge learned in Charles Dickens’ immortal tale, “A Christmas Carol.” It is just as true today as it was then.

This year, #GivingTuesdayPR, or #UnDiaParaDarPR in Spanish, is reminding us that Christmas is about much more than shopping.

Whether it is volunteering your time to help a soup kitchen, homeless center or participating in a campaign drive for a nonprofit association, serving others is the message of this yearly event.

Giving Tuesday is held in the U.S. on the first >Archive Tuesday after Thanksgiving. The date for 2019 will San Juan, he explained that during the first Giving be Dec. 3.

Tuesday in 2002 in the New York metro area, “Anyone can participate. Anyone can be about $10 million were raised to benefit 2,500 generous. You can give your time and help organizations. charities, local schools, health centers and social Now a worldwide event, Giving Tuesday in 2018 welfare organizations,” said Roberto Soto Acosta, raised over $380 million in the U.S, alone, which the leader of Giving Tuesday Puerto Rico. include matching funds from many companies.

The goal of the one-day event for Puerto Rico Last year, Facebook and PayPal donated $7 million is to raise $250,000 for charitable organizations each as part of a around the island, as matching campaign. well as for participants “The average to donate their donation in the U.S. time and give other is about $105.55 per resources to these person, not counting worthy causes. the millions of acts of Giving Tuesday was kindness,” Soto said. started in 2002 by “Give blood. Take the 92nd YMCA and food to a food bank or the United Nations shelter. Donate clothes Foundation, to focus and other items. Help a on the real meaning neighbor.” of the holiday season.

In Puerto Rico, The Tuesday after about $116,200 Thanksgiving was - Roberto Soto Acosta, were raised in last chosen because it is leader of Giving Tuesday Puerto Rico year’s event, helping 60 just a few days after organizations. the shopping madness Around 80 of Black Friday and organizations are participating in this year’s Giving Cyber Monday.

Tuesday Puerto Rico. Among the planned initiatives During a recent event with the Rotary Club of

The average donation in the U.S. is about $105.55 per person, not counting the millions of acts of kindness. Give blood. Take food to a food bank or shelter. Donate clothes and other items. Help a neighbor.

include fundraising drives to help children from low-income families in Ponce attend swimming classes; help an animal shelter in Ponce that rescues abandoned dogs and cats; help a shelter for abused boys in Aguas Buenas complete their rebuilding plans after Hurricane Maria; and help children living with cancer and their families across the island.

Several local organizations are already doing their part this holiday season. The Rotary Club of San Juan will hold a Thanksgiving luncheon for children who are members of the Boys and Girls Club. Planet Fitness is holding a toy drive at all of its gyms around the island, collecting “unwrapped toys,” such as dolls, action figures, games and puzzles.

“Giving Tuesday PR hopes to give more visibility to the important work that nonprofit organizations are doing in Puerto Rico and pair them with people who are looking for noble causes to support. While Giving Tuesday is one day, we hope that it will also translate to acts of kindness every day,” Soto said.

“We hope that this initiative promotes generous actions at home, in schools, at businesses; it could be giving someone a cup of coffee, a smile or a needed hug,” he added.

For more information on how you can give to others, log on to www.givingtuesday.org.pr/ proyectos2019 or call (787) 366-9812.

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Ice Skating in the Caribbean

You can enjoy the experience this holiday season in Quebradillas, Morovis, Coamo and Manatí

C

Yennifer Álvarez Jaimes

yalvarez@wjournalpr.com

@yalvarezjaimes

hristmas is almost here, and usually you need to travel to the mainland if you want to enjoy ice skating. Although we live in the Caribbean, the town squares of Quebradillas, Morovis, Coamo and Manatí will have their own ice skating rinks during this holiday season.

The Puerto Rico Skating Blast Tour will provide the joyful experience of skating on a synthetic ice rink designed and built in Switzerland, with the most modern technology, in a safe and fun environment. During the event there will also be live music, artisans and entertainment.

Tommy Stuart, president of Rinks del Caribe LLC and producer of the Puerto Rico Skating Blast Tour, explained that in addition to ice skating there will also be special activities on Christmas Eve, Christmas and Three Kings Day. The Puerto Rico Skating Blast Tour began on Nov. 21 and will be in the town square of Quebradillas until Dec. 1. From Dec. 4 to Dec. 8 the tour will be at the Morovis town square; from Dec. 11 to Dec. 15 in the town square of Coamo; and from Dec. 20 to Jan. 6 at Manatí’s town square .

The ice skating rink will be open Wednesday and Thursday from 6 p.m. to 10 p.m., Friday and Saturday from 6 p.m. to 11 p.m. and Sundays from 3 p.m. to 10 p.m.

Ice Skating Tips for Beginners

1 2 3

Make sure your skates fit properly.

Hold on to the rail.

Once you work up the courage, move away from the rail.

Bend your knees slightly. Don’t let your arms swing around.

4

Practice falling and getting up on the ice. Bend your knees and squat into a dip position.

5

Move forward. Keep your arms out in front, as if you were on a scooter, for balance.

6

Learn to stop. Push your feet apart and use the front of the blade to stop.

The synthetic ice rink was designed and built in Switzerland. >Courtesy Rinks del Caribe

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>Archive

Step by Step: Marbete

W Helle Patterson

newsroom@wjournalpr.com

hen you own a car there are three things you must comply with: a license plate, liability insurance and the “marbete” or vehicle registration. We were not aware of the significance of the “marbete” and at the end of the first year were never sent a renewal notification. Therefore, this step by step is going to educate on how to renew a vehicle’s registration.

1

The vehicle sticker renewal notice is supposed to come by mail at least 30 days prior to the expiration date. You can log online to the Department of Transportation and Public Works’ (DTOP by its Spanish acronym) website and print the renewal notice. However, it will only be available 30-45 days prior to expiration

date. All tickets and fines have to be paid before you can complete the renewal process.

2

All vehicles in Puerto Rico are required by law to have auto liability insurance coverage. If you cannot get private insurance, you have the option of paying $99.00 along with your vehicle registration fee, and soliciting one provided by the government.

3

If the car is over 2 years old, it will need to pass an emission test. You will find testing facilities at gas stations that display a DTOP identifier. The car will be tested and if it passes you will receive a certificate needed in order to register the vehicle. You may be able to purchase the vehicle registration sticker or “marbete” at the gas station, but if not you can go to any bank or “colecturía” (the Department of the Treasury’s collections office).

If you have car insurance you need to request a certificate of insurance from your insurance

broker. Bring it with you and the $99.00 insurance fee will be waved. Only the current vehicle registration sticker can be displayed on the passengers side of the windshield. The cost for not complying is $500.

Please note that if you have outstanding tickets, you will have to pay them first in order to renew. Be aware that when you purchase a used car, any tickets the car received should be paid before you complete your transaction because all tickets move forward with the car not the owner.

Tickets and fines collect surcharges and interests.

To pay the ticket you need to go to a collections office, DTOP Service Center or bank. It is strongly suggested to take a photo of the receipt showing you paid your tickets. Often times the payment is not recorded and you will need proof.

Always keep in your car the vehicle registration documents, insurance documents a pen and paper. If you are in an accident do not leave the area; wait for the police. Without an accident report number you will not be able to collect insurance.

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www.elvocero.com/revistas/mirame

< The Weekly Journal > Wednesday, November 27, 2019

It's your moment to shine.

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Luis Bravo’s Forever Tango Escape to a world of sultry dance moves and melodramatic performances with Luis Bravo’s Forever Tango show. This Broadway mega-hit dance show is coming to Puerto Rico for two nights only— one in San Juan and the second one in Mayagüez. Latin Grammy award-winner La India will be the guest artist both nights.

Mayaguez: Friday, Nov. 29, 8:30 p.m. at Teatro Yagüez, Candelaria and Dr. Basora streets, Mayagüez San Juan: Sunday, Dec. 1, 4 p.m. Luis A. Ferre Performing Arts Center, 22 Ponce de León Ave., Santurce

Festival de la Montaña A celebration marking the start of the holiday season. Enjoy the town’s official Christmas lighting ceremony and parade at Aibonito’s town square. The festivities will also include live music and traditional Puerto Rican holiday food.

When: Friday, Nov. 29 to Sunday, Dec. 1 Where: Plaza Pública, Aibonito

Mega Mix Remember Party Enjoy music by A Son de Guerra, Manny Manuel and Algarete while sipping on cocktails or playing your favorite sport at San Juan’s sports park! Tickets on sale at www.fangig.com.

When: Friday, Nov. 29, 6 p.m.

Where: Eco’s Sports Park, Parque Luis Muñoz Marín, San Juan

Arte Mercado: Edición Navideña en el MAPr When it comes to holiday or souvenir shopping, there’s no better option than buying local. For the ultimate “buy local” shopping spree, add to your itinerary a stop by the annual art market hosted by Puerto Rico’s premier art museum, el Museo de Arte de Puerto Rico. At the holiday edition of this market, you’ll find a sample of Puerto Rico’s best artisans, artists, designers and much more.

Once, you’re done with all the shopping head to the museum’s mesmerizing sculpture garden and grab a bite at one of the food trucks that will be participating at the event.

When: Saturday, Nov. 30 to Sunday, Dec. 1, 10 a.m. to 7 p.m.

Where: Museo de Arte de Puerto Rico, 299 De Diego Ave., Santurce

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Local Brands Black Friday More than 30 local brands, music and local food.

When: Friday, Nov. 29 11 a.m. to 9 p.m.

Where: El Nido, 37 Barbosa St., Bayamón

People of Ibiza Get ready to dance the night away at a lobby with music by Dj Jorge Salgado, DJ Jose Padilla, DJ Phred, DJ Emil Cedeño, and DJ JUTCHZ! Dress in your best Island Chic attire.

When: Saturday, Nov. 30, 9 p.m.

Where: La Concha Resort, Condado

La Feria “The Park” The largest amusement park in the Caribbean.

This family-friendly fair has rides, games, food, live music, holiday light displays and even a petting zoo. There is something for everyone.

When: Friday, Nov. 29 to Jan. 6, 6 p.m.

Where: Hiram Bithorn Stadium, San Juan

Fortnite November Royale First Attack brings an outstanding experience to the Fortnite videogame community here in Puerto Rico!

Join them for #NovemberRoyale and showcase your skills in a solos tournament!

When: Saturday, Nov. 30, 10 a.m.

Where: Engine-4 Coworking Space, Complejo Onofre Carballeira, at intersection of PR-2 and PR-5, Bayamón

Pública Market Local products, food and wellness.

When: Saturday, Nov. 30, 2 p.m.

Where: Pública, 1057 Ponce de León Ave., San Juan

Danny Rivera Although he is labeled “the national voice of Puerto Rico,” Danny Rivera’s dazzling and passionate interpretation style is known and appreciated throughout the Spanish-speaking world.

When: Saturday, Nov. 30, 8 p.m.

Where: Teatro La Perla, Ponce

Los Walters Ángel Figueroa and Luis López created Los Walters while living in different cities across the world. They’ve written and recorded material in several locations throughout Latin America, Europe and the United States. Although inspired by their diverse surroundings, the duo has remained consistent in their work, combining dark and lustrous electronic melodies with Caribbean elements and synthesized with flirty feel-good lyrics in Spanish.

When: Saturday, Nov. 30, 8 p.m.

Where: Vivo Beach Club, Road 187, Carolina