The Weekly Journal - November 20, 2019

Page 1

Wednesday, November 20-26, 2019 - // no. 030

Puerto Rico and the Caribbean

www.theweeklyjournal.com

STUDY SAYS P.R. HOME PRICES INCREASED IN FIVE TOWNS P6 PHARMA AND THE FOREIGN CORPORATION TAX P8 P.R.’S RECYCLING CHALLENGES P10

PUERTO RICO BETS ON

ACTS 20 & 22 Study projects about 200 percent growth in both tax incentive programs during the next 10 years

A Rosario Fajardo

CONTEMPORARY ART MUSEUM EXPLORES “ANARCHY AND DIALECTIC IN DESIRE” P20

rfajardo@wjournalpr.com

@RosarioWJournal

study commissioned by the Economic Development and Commerce Department (DDEC by its Spanish acronym), forecasts “conservative and steady growth” for the Acts 20 and 22 tax incentive programs in Puerto Rico during the next 10 years. Assuming that no major unforeseen events occur, such as the federal government intervening in some way, Act 20 grantees should increase from the current 1,850 to

5,026 by 2029, representing a steady growth of 200 percent during the next 10-year period. Meanwhile, Act 22 grantees will increase from the current 2,202 to 6,392 by 2029, also showing a steady growth of 190 percent during the next 10year period. “We are competing with the world. There are [various] ways to attract capital and new investment: incentives, federal funds, issue debt responsibly and improve infrastructure, education and the business climate,” said Economic Development Secretary Manuel Laboy. GO TO PAGE 4


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.