The Weekly Journal - Wednesday, December 30, 2020 - January 5, 2021

Wednesday, December 30, 2020 — January 5, 2021 // no. 088

Puerto Rico and the Caribbean

www.theweeklyjournal.com

>Courtesy

2021 Economic Outlook for Puerto Rico PROTech Project on the Move P6

FOMB: Recovery still ‘uncertain’ as jobs slow to return

FEMA Awards Increase in 2020 P7 Hacienda Chocolat’s Big Plans P10

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>Courtesy

Rosario Fajardo

Hard Rock Café in the Pearl of the South P14-15

rfajardo@wjournalpr.com

@RosarioWJournal

he Financial Oversight and Management Board (FOMB) has issued its 2021 Economic Outlook report, and while there is still much uncertainty in Puerto Rico’s economic recovery, there are bright spots on the horizon.

The positives include the availability of vaccines against COVID-19 for the general population and the effectiveness of distribution logistics; the latest round of federal stimulus funds approved by Congress;

and citizen cooperation with guidelines set by the Centers for Disease Control and the Puerto Rico government’s various executive orders.

However, in the long term, Puerto Rico remains challenged by economic and demographic decline.

For example, the extent of “scarring” in the Puerto Rico economy is a key concern, particularly on its young people, according to FOMB Executive Director Natalie Jaresko, who gave an overview of the effect of the COVID-19 pandemic on Puerto GO TO PAGE 4

The Weekly Journal > Wednesday, December 30, 2020 > 2

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a week in review

>Carlos Rivera Giusti

The Puerto Rico Treasury Department announced that it had detected and stopped the payments of $220 million in thousands of fraudulent $1,200 payments to individuals and Pandemic Unemployment Insurance for the self-employed under the federal CARES Act, which is aimed at mitigating the economic impact of the coronavirus pandemic across the nation.

>Josian E. Bruno Gómez

Treasury Stops Payment of $220M in Thousands of Fraudulent Applications

Swain Sides With the FOMB on Financial Issues

Five legal challenges filed by the government of Puerto Rico against the Financial Oversight and Management Board (FOMB) were rejected by Judge Laura Taylor Swain, who is overseeing the island’s bankruptcy proceedings.

The challenges concerned several medical-related laws as well as allocations on vacation and sick time for public employees. Swain indicated that such laws were not proven to be “revenue neutral,” as required by the government’s approved Fiscal Plan. Pictured is FOMB Executive Director Natalie Jaresko.

RVI Announces Sale of Plaza Palma Real in Humacao

Retail Value Inc. announced that it had closed on the sale of Plaza Palma Real, a local mall, in Humacao for $50 million. The buyer’s name was not disclosed. Plaza Palma Real opened in 1994 and has more than 70 retail venues and kiosks, as well as restaurants and a movie theater.

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CONTINUED FROM PAGE 1 Rico during the Oversight Board’s latest public meeting.

Based on U.S. Labor Department data, on average, the job recovery for Puerto Rico has been slower than for the mainland United States, she pointed out. “In Puerto Rico, 46 percent of the jobs lost in April were recovered by October, compared to 67 percent in the U.S., with leisure and hospitality one of the hardest hit sectors in Puerto Rico.”

The sector lost about 43 percent of its employment in April, the equivalent of around 35,000 jobs. By October, 41 percent of these lost jobs were recovered in Puerto Rico, versus 67 percent for the same time period in the U.S. Trade, transportation and utilities lost about 42,000 jobs in April and recovered 69 percent of these by October. This compares to a recovery of 82 percent of the lost jobs in the mainland U.S. Meanwhile, construction lost about 10,000 jobs in April and recovered 54 percent of these

by October. This compares to 126 percent in the mainland U.S. Jaresko also noted that the Puerto Rico Restaurant Association’s internal surveys and estimates suggest that 25 percent of restaurants will permanently close due to the pandemic, which may represent the loss of 30,000 jobs.

Younger Workers Most Affected

The impact of young workers has been particularly difficult, as they are now in a more vulnerable position prior to the pandemic.

“Unemployment is structurally higher for younger workers in Puerto Rico … as they face a labor market further weakened by the pandemic,” she

FOMB Executive Director Natalie Jaresko >Carlos Rivera Giusti

indicated. “Research shows this may have long lasting impacts in their career development and income. This may also further accelerate outmigration of Puerto Rican youth.”

In January 2020, before the pandemic hit Puerto Rico, unemployment rates for young adults were already high: 35.8 percent for those 16-19 years old; 27.1 percent for those 20-24; and 16.2 percent

Puerto Rico’s aging population, due to outmigration and low birth rates, continues to be a demographic challenge for the island’s economy. >Josian E. Bruno Gómez

for those 25-34, according to the FOMB report.

Meanwhile, the unemployment rate for those ages 35-44 was 5.6 percent; 4 percent for those 45-54; and 4.4 percent for those 55-64.

Thus, the long-term prospects for a shrinking economy and population remains a key challenge for the island. Puerto Rico’s Economic Activity Index (EAI) continues to decline, as does its population. In October, the island’s EAI fell by 6.4 percent in October when compared to the previous year, while it increased by 0.4 percent in a month-on-month basis, according to the latest report by the Economic Development Bank. At the same time, the population — now at 3.2 million, based on 2019 U.S. Census figures — is expected to continue dropping at a rate of roughly 10,000 people a year, due to out-migration and low birth rates.

With this in mind, Jaresko underscored the importance of supporting local businesses, to help boost the economy and create jobs. The Oversight Board’s latest survey, in which 649 mainly small businesses participated, shows the deep effect of the pandemic on Puerto Rico’s businesses: almost half of the businesses laid off or furloughed employees, or reduced work shifts, and almost 60 percent said the pandemic reduced demand for their products or services. Half of the respondents said they will need financing, including loans or grants to reopen, and more than 40 percent said they need to redesign their business logistics or require technical expertise for their business to adjust to the new economic reality.

The results also underscore how important it is for the Puerto Rico government to implement ease of doing business reforms and digitize services, Jaresko indicated. During the last six months, only 25 percent of respondents said they could obtain

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The newly developed vaccines against COVID-19 have rolled out in Puerto Rico, bringing hope for the new year. >Brandon Cruz González

services from the government online, and more than half said they had a bad service experience.

Respondents rated services and systems for registering a property, obtaining a permit and paying taxes as “difficult” to “very difficult.”

FOMB’s Goals for 2021

The Oversight Board’s overall goal continues to be getting Puerto Rico out of bankruptcy, which requires the government to enact various reforms, such as those to make the island more business friendly, and to reach various debt-restructuring accords with creditors.

“The commonwealth has been in bankruptcy for four years and it’s time it gets out of bankruptcy.

Everybody agrees with that,” FOMB Chairman David Skeel. “I am hopeful that we can reach agreements with the creditors and the other interested parties that will be consensual as possible, have as much support as possible, and all of the effective parties, including the governor and the Legislature will agree.”

Jaresko outlined five key areas that the Oversight Board will focus on in 2021. First would be working to ensure that the government’s audited financial statements are published in a timely manner for budgetary compliance and capital markets access. “Best practices call for audited financial statements to be published no later than 180 days after the end of each fiscal year,” she said, adding that the government’s delays in doing so are “unacceptable and inconsistent with the requirements under Promesa, referring to the federal law that governs the island’s bankruptcy process.

(CDBG-DR) grants. According to the FOMB, $144 Second would be implementing the structural million for permanent work has been disbursed by reform priorities for the government. These include introducing Nutritional Assistance Program FEMA since January 2020, while of the $10 billion authorized under CDBG-DR, around $3.2 billion work/volunteer requirement for beneficiaries; has been obligated. creating workforce development programs; Fifth would be following education reform in areas such through on the “spending status” as curricular reform to support of the coronavirus relief funds virtual learning and “distributing that Puerto Rico received under the necessary technology tools” the federal CARES Act. The island and invest in online learning Based on U.S. has been allocated $2.241 billion infrastructure; and a host of ease Labor Department in various funding categories and of doing business reforms, with data, on average, as of Dec. 10, $1.151 billion had an emphasis on streamlining the job recovery for been disbursed. According to the permits to promote business Puerto Rico has been FOMB, 48.6 percent of the $2.241 activity. slower than for the billion is still remaining in such Third would be enacting fiscal mainland United areas as Private Sector Payroll measures to improve agency States. In Puerto Protection, Tourism Industry efficiencies, such as “reducing Rico, 46 percent of Assistance; and COVID-19 Testing excess in the front and back office the jobs lost in April and Contract Tracing. headcount” in various agencies, were recovered by including Corrections, Economic There has been delays in the October, compared health care expenditure, as the Development and Commerce and to 67 percent in the government has only spent $3.6 Tourism; and consolidate services U.S., with leisure and million, or 0.9 percent of the $393 across municipalities to improve hospitality one of the million total health care capitalservices and reduce costs, hardest hit sectors in expenditures budget, as of Nov, especially in garbage disposal Puerto Rico.

15, the Oversight Board said. The and maintenance of roads and delays have been attributed to buildings. the fact that most projects are Fourth would be following through on the rollout of disaster still being revised by the Puerto aid funding for the island, as it Rico Health Department and relates to recovery from Hurricane Maria and the many municipalities have newly elected mayors, earthquakes earlier this year. Of note would be which have delayed the process of signing the funding obligated from FEMA and the Community memorandums of understanding to disburse the Development Block Grant-Disaster Recovery funds to health centers.

In fact,

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PROtech Project in Yabucoa Moving Along

Companies selected to develop ocean thermal-energy park rfajardo@wjournalpr.com

@RosarioWJournal

he Puerto Rico Ocean Technology Complex (PROtech) development project in Yabucoa will be carried out by WSP USA Building Inc. and Marvel Architects, after the central government completed the selection process to develop the $300 million project that will be the center of multiple ecofriendly projects and scientific research.

Once completed, the project will be the first of its kind in the Caribbean.

“We thank the 34 companies that showed interest in being the architects of the world’s largest OTEC [ocean thermal energy conversion] pilot plant that will create an ecosystem that integrates research, innovation and economic development by creating industries that derive from deep water use. We selected WSP USA Building Inc. and Marvel Architects because the collaboration between these two companies creates a highly qualified team with international experience and the capacity to develop this among other details. According to development cutting-edge project,” said Manuel Laboy, secretary plans, the project must be in its final phase of Economic Development and of searching for tenants and Commerce (DDEC by its Spanish industries by 2027. acronym).

As reported by THE WEEKLY WSP USA Building is an JOURNAL, the PROtech initiative international engineering firm would produce 500 kilowatts of with headquarters in New York Based on energy through a collaboration City, while Marvel Architects is a the master plan, with the private sector, which local firm based in San Juan. the project should would pick up the tab for the The next phase of the project generate some 10,000 development. The project has includes a pre-agreement jobs in an area with been in the works for more than between the selected developer poverty rates that three years and would follow and the Puerto Rico Land fluctuate between the lead of similar initiatives in Authority to begin negotiations 45 percent and 56 Hawaii and Japan in order to for the lease of the land where percent — before transform the island into a worldthe development will take the coronavirus class example and center for place. This phase also includes pandemic hit Puerto sustainable ocean economy. feasibility studies, development of Rico in March.

According to scientists, the the structural design of the park natural qualities of the zone and the beginning of application -waters with temperatures of 36 for the corresponding permits. degrees Fahrenheit and depths This process should be completed of 1,000 meters- make it a perfect match for the in the second quarter of 2022. Then, planning project since OTEC technology produces energy by the construction and OTEC systems would follow, harnessing the temperature differences between

In fact,

>Courtesy

T Rosario Fajardo

ocean surface waters and deep ocean waters.

In addition to the ocean thermal energy conversion plant, the project hopes to launch emerging industries like algae farming, mariculture (the cultivation of fish and other marine life for food using seawater) and aquaculture (similar to mariculture, but usually with freshwater), as well as a recreational center, a research institute and other local ventures.

Based on the master plan, the project should generate some 10,000 jobs in an area with poverty rates that fluctuate between 45 percent and 56 percent — before the coronavirus pandemic hit Puerto Rico in March.

“PROtech is a key project that will give space to multiple emerging sectors based on OTEC technology, which will make Puerto Rico one of the leading deep-water research and application centers in the world. We are confident in the development and success of this project whose master plan we develop based on feasibility studies of recognized entities such as Makai Ocean Engineering, Estudios Técnicos, Integra and Technical Consulting Group and together with other government agencies,” Laboy said.

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A severely damaged road in Utuado after Hurricane Maria >Carlos Rivera Giusti

FEMA Awards for Permanent Work Projects Increase in 2020 Agency dogged with low approval rates in Puerto Rico

D Rosario Fajardo

rfajardo@wjournalpr.com

@RosarioWJournal

during this historic recovery,” said Federal Disaster Recovery Coordinator for Puerto Rico and the U.S. Virgin Islands, José Baquero Tirado.

facilities for residents. Many of these spaces are used for community activities and as distribution centers during emergencies.

Improved Infrastructure

Hazard Mitigation

In September, while commemorating the three-year mark for Hurricane Maria, the agency espite the obstacles of 2020 — awarded the two projects with the largest amount the earthquakes in the south of funds in FEMA history. The nearly $9.5 billion and the COVID-19 pandemic obligation for the Puerto Rico Electric Power that significantly disrupted Authority aims to move permanent work projects Puerto Rico’s economic activity forward in several facilities that provide service to — FEMA ended the year with a 1.5 million residential, commercial and industrial record number of obligations clients. on the island, the federal agency Likewise, over $2 billion reported, with nearly 400 project was obligated for the Puerto obligations per month paving the Rico Department of Education way for a total of $13.4 billion in to address damage in over recovery funds.

5,300 buildings, pavilions and Over the past As reported by THE WEEKLY recreational areas, among other three years, FEMA JOURNAL, an October 2019 sites, in over 1,100 schools. has obligated more report by the U.S. Government For his part, the Director for than $19.5 billion Accountability Office found the Central Office of Recovery, in Puerto Rico for that FEMA only had a 2 percent Reconstruction and Resilience, costs related to approval rating on “alternate Ottmar Chavez, said that the hurricanes Irma procedures projects” for the Puerto Rico government has and Maria under its island. These projects are focused adapted to address all the Public Assistance on permanent works in areas pressing situations that arose. program. such as roads, bridges, water “We are very pleased to have control facilities, government achieved the largest allocation buildings (central and municipal), in the history of FEMA for the parks and recreational facilities, reconstruction of the electrical among others. At the time, there were over 9,500 system and the Department of Education. We of these projects pending approval. have also achieved million-dollar allocations to As a result, FEMA said it would work with Puerto address the crises of hurricanes Irma and Maria, Rico government officials to ramp up approval the earthquakes and the COVID-19 pandemic,” he rates, especially smaller projects. added.

“This year’s challenges further strengthened Similarly, the island’s 78 municipalities will our commitment to the people of Puerto Rico. benefit from a $1.2 billion injection for 3,741 Our sense of duty and willingness is unstoppable, projects for roads, public buildings, parks, sports and we are proud to be able to help our island facilities, community centers and other essential

In fact,

Though natural disasters like hurricanes and earthquakes cannot be avoided, there are ways to take measures to minimize their effects, FEMA said. To date, nearly $240 million in federal funds were awarded for this purpose.

In addition, about $53.4 million was obligated under the Hazard Mitigation Grant Program to strengthen facilities across the island, like at the Luis Muñoz Marín International Airport. In the first phase of the project for the largest international travel hub in the Caribbean, designs are underway for an electrical system that will reduce the disruption of services if a failure occurs. Another $18 million was allocated to update and enforce building code guidelines and compliance.

Environmental and Historic Preservation

FEMA also awarded funds for projects that seek to preserve the island’s cultural heritage.

The National Archives and the Cabezas de San Juan natural reserve in Fajardo, for example, were approved $7.4 million and $701,300, respectively.

The agency also performed several assessments of the Camuy Caves, a natural treasure of internationally recognized value. Experts will now prepare a cost estimate and make other recommendations that will improve the infrastructure of the Espiral, Catedral and Clara caves. The facility has been closed for more than three years, since Maria hit.

Puerto Rico government officials had hoped that the Camuy caves could be open again this month, as the attraction represents an important income for the Camuy, Lares and Hatillo municipalities.

However, the pandemic has delayed those plans.

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Located in Hato Rey, Kevane Grant Thornton offers audit, tax, advisory and outsourcing services to over 1,100 individuals and corporate clients. >Josian E. Bruno Gómez

Kevane Grant Thornton Thinks Big for 2021

New audit partner outlines potential markets for the company’s growth

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Giovanna Garofalo

ggarofalo@wjournalpr.com

@giopgarofalo

orge Cañellas, the new audit partner at Kevane Grant Thornton (KGT), affirmed that the firm of Certified Public Accountants (CPAs) and business advisers is poised to become the top auditing choice for companies dedicated to financial services and telecommunications.

In an interview with THE WEEKLY JOURNAL, Cañellas — who has years of overseas experience in telecommunications — explained that the firm is developing a growth strategy to attract clients in this industry, as well as “fintechs,” which are businesses that use technology to enhance their financial services.

“Within financial services, we want to develop as specialists, whether in tax auditing or accounting consulting for banks, brokerage houses, funds, insurance companies, fintech companies... Now we can have the ability to serve any of those clients locally here in Puerto Rico,” said Cañellas, who has worked in New York City, Boston and Mexico City, among other destinations with a variety of clients.

He underscored that fintech companies offer a diverse ecosystem that presents myriad business opportunities and underscored that this sector has gargantuan potential on the island. In fact, Androit

Market Research projected last January that the global fintech industry will reach a market value of approximately $460 billion by 2025. Meanwhile, Market Data Forecast offers a more conservative estimate, with a market value projection of roughly $305 billion globally by 2025, growing at a compound annual rate of 22.17 percent from 2020 to 2025.

“It is very interesting to me because it is a highly entrepreneurial environment; many are small businesses that are growing considerably.

It is interesting to me to not only serve large clients, but to also be present in those smaller ecosystems because that is the future where we are heading, those fintech technologies, and that has always been a very intriguing environment for me,” Cañellas added.

What we want is to reinforce the position we have as a leading firm in Puerto Rico.

— KGT Managing Partner Luis Carlos Marcano

For his part, KGT Managing Partner Luis Carlos Marcano stated that Cañellas’ 15 years of experience in the field brings the company “important reinforcement” in financial services and telecommunications. “Jorge’s experience definitely

opens up additional space for us to enter these sectors and provide services that we already offer, plus some additional ones that we could also develop with Jorge’s experience,” he said.

Plans for 2021

In addition to attracting new clients, Marcano informed that in 2021, KGT will bolster its technology for inside processes, as well as provide even more ample support to its clients. Specifically, the consulting firm will “seize the most advantage” of blockchain tech, automated processes and Artificial Intelligence (AI).

Essentially, the company aims to become a leader in auditing using technological tools to boost efficiency, as well as customer service and its response rate. “KGT has been specializing a great deal on how we can implement digital audit tools to make audits more efficient and for our clients to feel satisfied with the service that is being provided to them,” he said, adding that KGT will be “highly organized and focused” to foster future business relations and reach its target clients.

“We want the company that wants to grow, that wants to develop itself, that wants to improve, to see us as the alternative. Sometimes many people focus on whether they want to be the largest firm or the largest company. That’s not bad, but I prefer to be the best... the one that we can best offer services to our clients, that they can see the added value, which is what the client is really looking for from a public consulting firm. It’s not only giving the audit service, but also the benefit that this has... I understand that we are already there; what we want is to reinforce the position we have as a leading firm in Puerto Rico,” Marcano asserted.

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Laboy Highlights Initiatives in Economic Development

DDEC secretary analyzes progress made, goals as he moves to COR3

“I managed to pay off almost all the debt that I inherited from the Green Energy fund… of nearly $16 million, we have it almost at zero. At the end of December, before the end of the year, I hope to bring it to zero,” he said.

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Pending Issues

Giovanna Garofalo

ggarofalo@wjournalpr.com

@giopgarofalo

espite myriad challenges, Manuel Laboy looked back fondly over the highlights of his time as the secretary of Economic Development and Commerce (DDEC by its Spanish acronym) during one of Puerto Rico’s most turbulent times in recent history. He will continue serving as the director of the Central Office of Recovery, Reconstruction and Resilience (COR3) under Gov.-elect Pedro Pierluisi’s administration.

One accomplishment he highlighted is boosting the manufacturing sector, which contributes 33 percent of the island’s gross domestic product.

“When I assumed my role in 2017, there were fewer than 70,000 manufacturing jobs and now we are leaving a manufacturing sector with nearly 76,000 jobs, more than 300 new expansion projects by local businesses, nearly 25,000 new committed jobs with our incentives tools and more than $1.5 billion in capital investments,” he told THE WEEKLY JOURNAL. This is paired with local and federal interest in transforming the island into a pharmaceutical manufacturing hub, a measure that would potentially attract billions of dollars and thousands of jobs, he added.

Another positive he mentioned is the revitalization of the former Roosevelt Roads Naval Station in Ceiba under DDEC’s Roosevelt Roads Redevelopment Authority. The site has languished for years, since the U.S. Navy left in 2004, with many calling the area a “ghost town.” While the area’s redevelopment reportedly requires an investment of $250 million, Laboy asserted that the Authority has committed twice that amount.

“We managed to set afoot over 15 projects that commit more than 3,500 new jobs in Roosevelt Roads and an investment of nearly $500 million; something that had never been seen since the

Manuel Laboy underscores the initiatives aimed at the manufacturing sector and Small and Midsize Enterprises (SMEs). >Carlos Rivera Giusti

I’m going to COR3 to finish obligating all the funds.

— Manuel Laboy

base was handed over to the government of Puerto Rico,” he said.

The secretary also underscored the amended Puerto Rico Incentives Code, stating that the new provisions ease the process to obtain permits — a common complaint among entrepreneurs — thereby improving the local business environment and luring investment. “In the Incentives Code, Small and Mid-size Enterprises (SMEs) receive a more favorable treatment,” he stated, adding that the Single Business Portal that centralizes government processes for entrepreneurs is another plus.

Laboy also highlighted a variety of initiatives that generated or committed investment and business growth, including the creation of Invest Puerto Rico and Discover Puerto Rico, youth and technology-oriented projects and incentives, benefits for the film industry, and entrepreneurial development programs to strengthen the island’s SMEs sector.

Although the DDEC managed to enhance some programs and services, some initiatives have struggled to gain ground.

For instance, 10 years after the Puerto Rico Medical Tourism Act (Act No. 196 of 2010) was amended, the sector remains underdeveloped. In 2019, two years into the current administration and before the coronavirus outbreak, the initiative was still in its early stages. Promotional strategies had to be postponed and there were continuing challenges to retain health professionals. At the same time, the inability to market projects such as the Dorado Beach Health medical facility, which entailed a $107 million investment, would result in multimillion-dollar losses.

There is room for growth in this sector, Laboy noted, as the central government’s long-term goal is to attract 30,000 patients in the next three to five years, representing an economic impact of $23.5 million.

In addition, the Opportunity Zones project has struggled to attract investments more than three years after Hurricane Maria devastated Puerto Rico. It took the agency over a year and a half to develop the Opportunity Zones Regulations and timing was a factor, as the regulations were released when the global economy was severely challenged by the COVID-19 pandemic.

Moreover, additional time would be needed to review the applications for these projects that aim to foster economic development in “distressed communities,” of which over 95 percent of the island is defined.

Laboy hopes to impact these communities as the new head of COR3, with particular emphasis on distributing federal recovery funds. “I’m going to COR3 to finish obligating all the funds to make sure that the projects… are executed,” he affirmed.

— Journalist Rosario Fajardo contributed to this story.

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Hacienda Chocolat Produces its First Craft Chocolate Bar

The cocoa farm is located on the eastern side of El Yunque in Fajardo

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Daniela González

or the founder of Hacienda Chocolat, Yadira Vázquez, the pandemic caused by COVID-19 this year did not prove to be an obstacle to their continuous production of cocoa or the production, for the first time, of a craft chocolate bar.

At the same time, she is preparing to include an area on the farm to promote agritourism through various tours and overnight stays.

Using the products of her farm and new machinery, Vázquez, together with her husband and work team, is now making a bar of dark chocolate grown in Puerto Rico. She underscored that she is analyzing the procedure to obtain the best flavor of the bar. “As you go through the procedure, it’s going to have an effect on the taste of the chocolate when you make the bar,” she said.

Moreover, she stated that she has submitted Cocoa seeds from Hacienda Chocolat >Courtesy the agritourism documents and permits in order to give some tours in the cocoa farm. “We continue to develop bananas and other agricultural new roads, preparing them so products to independent buyers that people can walk on the farm in Puerto Rico and local chocolate comfortably and strategically producers. arranging the trees,” she The farm was founded in Chocolate explained.

2015, after Vázquez’s dream of is prepared from Likewise, Vázquez asserted “having a farm.” She began it with the fruit of the that she contemplates providing agroforestry development.

Theobroma cacao, a “glamping” or luxury camping on “I always had the illusion of tropical tree whose the land to expand the offer for having a cocoa farm, but being name means “food visitors. “Areas with platforms a nature lover, I tried from the of the gods” in are being prepared to arrange beginning that if we were going Greek, according to the huts... There are places on to plant cocoa that it should be “Chocolate: Food of the farm where glamping would in the forest so as not to lose the the Gods,” an online be spectacular due to its good most beautiful thing about the exhibit by the Cornell views,” she indicated. farm, which is the forest; and University Library.

Although the farm currently we started the development of does not have services for the agroforestry. It is a challenge, it public, it sells cocoa beans, is complicated and expensive.

In fact,

The hacienda also plans to have tours for the general public. >Courtesy

At the end of the road, you can have your cocoa plantation and other things inside a forest,” Vázquez said.

According to the founder, the first cocoa trees were obtained through Mayagüez resources and a project by Eduardo Cortés, from Cortés Hermanos.

“I bought the first 2,000 trees and entered the second stage of Eduardo Cortés’ project and that is how we acquired our trees. We currently have 3,000,” she added.

The hacienda’s goal is to support the local economy and Puerto Rico’s economic development with the cultivation and processing of cocoa and other spices such as vanilla, cinnamon, pepper and bay leaves.

For more information about the hacienda and its products, visit its official page www. haciendachocolatpr.com, or its Facebook page as Hacienda Chocolat.

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José “Peco” Suárez

Chairman of the Board of Directors of Discover Puerto Rico

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Challenges and Opportunities for the Puerto Rico Tourism Industry

iscover Puerto Rico was established in July 2018 for the purpose of promoting Puerto Rico as a premiere destination and enhancing the long-term economic development of communities through travel and tourism. Critical to the mission of the Destination Marketing Organization (DMO) is marketing and selling the entire island, since each municipality across Puerto Rico is unique and prepared to offer visitors exceptional experiences.

During 2019, the first full year of operation of Discover Puerto Rico, the organization obtained great accomplishments. Advertising efforts generated more than $2 billion in leisure travel, the Meeting, Incentives, Conferencing and Exhibition (MICE) segment generated more than $122

million in sales while the portfolio of future sales was over $320 million.

These sales efforts generated an economic impact of $98.1 million and the outlook for 2020 was very positive. In 2020, we were overseeing an air capacity increase throughout all the airlines and the hotel occupancy higher than in 2019.

Unfortunately, January started with a negative impact for the tourism industry due to the earthquakes that were affecting the southern region of Puerto Rico. As this situation was starting to settle, we received an even greater blow with the COVID-19 pandemic, whereby tourism was practically stalled.

Tourism is the industry that has been hit the hardest, with a negative impact three times as bad as when Hurricane Maria hit Puerto Rico. During the lockdown and the following months, flights to the island were reduced, many hotels

El Faro in Cabo Rojo >Courtesy of Discover Puerto Rico

closed, casinos were closed, public amenities such as beaches, parks and museums were closed, restaurants were partially operational, as were other businesses that support our tourism. All these closed or partially closed businesses affected the livelihood of more than 86,000 people who work in the tourism industry.

Despite this situation, the DMO has been diligently working to keep Puerto Rico in the top-of-mind of our future visitors by creating innovative initiatives such as virtual vacation getaway, live-guided tours, Puerto Rico videos and virtual museum tours, among others, via our social media channels. As a research-based organization, we are utilizing our tools and in-house sales and marketing experts to target responsible travelers for 2021. The role of Discover Puerto Rico is to grow the visitor economy for the

economic well-being of Puerto Rico and lead the recovery of the tourism industry.

Discover Puerto Rico is an efficient and effective tool for economic recovery and growth. With changes in administration, leaders and shifting priorities in our government, the DMO provides continuity to the recovery plans for the tourism industry. Our expert and dedicated team is led by a board of directors, as well as supported by different committees composed of leaders with decades in business experience, including expertise in hotel, restaurant and retail management, aviation, hospitality development, destination development and legal services; and they represent properties large and small, inside and outside of the Metro Area.

In 2021, the team will focus on helping small businesses around the 78 municipalities, which were affected throughout 2020, in part by providing them with tools to promote their businesses with no charge to them, through Discover Puerto Rico’s website and social media channels, among other initiatives. The DMO has developed an action plan that will provide the necessary support across all sectors of the tourism industry that will allow us to lead another recovery for the tourism industry and bring back tourists and business as soon as Puerto Rico is prepared.

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How to Set Attainable New Year’s Resolutions Goodbye to 2020 and Hello to 2021

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Active Aging

ith the new year around the corner and so many changes to our lifestyles in 2020, you may be itching to set some big resolutions for 2021.

Here are a few tips for setting meaningful and attainable New Year’s resolutions.

1. Imagine

2. Simplify

Take your big idea resolution and make it a little more specific. If you know exactly what you’re working toward, it’ll help you reach your goal. You might add a clarifying sentence to your overarching resolution. For example, you can follow “I’m going to get stronger this year …” with “ … by lifting weights and getting out to play tennis.” Or follow it with a way to measure if you’ve reached your goal, “ … and I will know I’m stronger when I can lift 50 pounds.”

If you realize that your resolution is too big to simplify, maybe choose one step toward that goal as your 2021 resolution. Then this year’s resolution becomes one step in what may become a multiyear resolution.

3. Plan

Break your resolution into chunks. These chunks might be time boxes — like what you’ll do each month or logistics — what items or support you’ll need to keep the resolution. For example, you might plan to lift weights that are five pounds

heavier each month. Or you might plan to buy a set of weights if you don’t have any at home. If your resolution is more abstract, like making a positive impact on someone’s life, consider whether you want to set parameters to make it clear that you’ve attained your goal. Do you have a specific person in mind you’d like to impact positively? Or a specific impact? Will it be an emotional impact or financial or material?

When you define steps toward keeping your resolution, it makes the big goal more attainable.

4. Share

Share your plan with at least one accountability partner, or maybe with the whole world! It’s not about these witnesses making you feel guilty if you don’t keep your resolution; it’s about support. You want people there to cheer you on as you work toward a goal you’ve set for yourself. Everything feels attainable when you know you have people in your corner. They’re there to remind you of your focus, your strength and your ability. They’re there to tell you, “You can do it! I believe in you!”

>Carlos Rivera Giusti

2021 is your oyster; what do you want from it? Make a list of everything you want to do from, “I want to go outside every day for at least five minutes” to “This year, I want to make a positive impact on the world.” Make a giant list! It doesn’t hurt anything. In fact, it may help you remember where you’re headed over the next few years. Or it may help you remember how far you’ve already come. Once you’ve made your list, ensure that your goals are positively purposeful. Is it meaningful to you to lift weights three days a week? If so, great! If not, consider shifting your resolution into something that feels more impactful to you. This could be as simple as re-imagining your resolution as “I’m going to get stronger this year.”

5. Post It

We’re not talking about posting your New Year’s resolution to Facebook and Instagram (although you could if you’d like). Another way to make your resolutions feel attainable is to post them in places you see every day. This ensures that you don’t allow the goal to slip from focus. Make whatever you post a positive reminder, a joyful nudge toward your goal. Remind yourself that this resolution is attainable and meaningful to you. You set the resolution knowing you can hit it, and you want to.

Then, periodically, move the location of your

posts, so they don’t become just part of the scenery. Or, even better, have your spouse or children move it periodically for you. Nothing like getting that surprise reminder when you push the garage button on your rearview!

Take these steps with you into January, and your New Year’s resolution for 2021 can be the best one you’ve ever set — not to mention the best one you’ve ever MET!

14

/ Wednesday, December 30, 2020

Ponce

>All photos by Yaira Solís Escudero

Home to the Biggest Hard Rock Cafe in the Caribbean Features culinary delights in a family-friendly atmosphere

T Yaira Solís Escudero

The Original Legendary Burger

ysolis@elvocero.com

@yairasolis

o the popular phrase “Ponce is Ponce… and the rest is parking,” we have to add that Ponce is home to the largest Hard Rock Cafe in the Caribbean. Therefore, you have to go there to enjoy a memorable experience and pure entertainment. After all, that is the promise that the Hard Rock brand makes to all lovers of its products and, of course, Rock & Roll!

Without a doubt, Ponce is rising from the ashes like the Phoenix, to resurface and shine without the situation of the earthquakes and the COVID-19 pandemic taking more precedence over its economic development. It is the watchword among local entrepreneurs like Joel Rodríguez, from JRC Consolidated, the firm that owns the local Hard Rock Cafe venue that houses the boutique-business hotel Aloft Ponce, owned by the Marriott chain; a hotel that will open in a couple of weeks.

We are sure that Ponce residents know very well where Aloft Ponce and Hard Rock Cafe are, but if you arrive from nearby towns or from San Juan — as was our case — there is no way you will miss it, because a gigantic guitar that is 60-foot tall by 15 feet wide, with integrated LED lights — for light

projections in rhythmic sequences — will let you know that you have arrived.

Aloft Ponce has a distinctive and ultramodern façade that denotes what it treasures inside. Once inside, the Hard Rock Cafe area attracts attention because it is more than 12,000 square feet of pure entertainment and delicious gastronomy. In fact, that is Rodríguez’s goal.

THE WEEKLY JOURNAL arrived at the location to experience the restaurant firsthand. Once in the lobby, all visitors are required to follow the health safety rules for taking temperatures, use of masks and disinfecting hands. At the entrance you can see the number of tables available, in this case 30 percent of a total of 352 seats.

Roberto Rodríguez, the bar’s manager, welcomed us together with chef Alejandro Vélez and Luis Raldiris, general manager of Aloft Ponce, while Joel Rodríguez explained to us about the blessing that the hotel has a Hard Rock Cafe to maximize the experience of the entertainment venue. Aloft Ponce will be opening its doors to local and foreign tourists before the end of 2020.

Of course, these are the expectations of JRC Consolidated.

As per the tour inside Hard Rock Cafe, we could see its open kitchen, the bar area and the store where they sell a variety of emblematic items of the brand, from T-shirts, glasses and baseball caps, to the famous collection pins, among others.

Likewise, we were able to find as part of the decoration of the restaurant, pants worn by our own Ricky Martin — autographed and everything — as well as pieces of clothing by Shakira, Jennifer

/ Wednesday, December 30, 2020

15

López and even Marc Anthony, all well-protected in glass cases. And of course, autographed rock guitars are found in all areas.

“In addition to our good food, here the waiters and restaurant managers dance once an hour, in the center of the dining room, as part of our entertainment offering. This evokes the dances that waiters do on boats and it has been very popular. In addition, we have a musical platform in the middle of the restaurant because we offer live music, and it is an invitation for emerging musicians,” explained Joel Rodríguez. In fact, during our visit we enjoyed watching the servers dance to Pharrell Williams’ hit song “Happy,” and don’t be surprised to see several diners get up and follow the group’s choreography. Obviously, at the table next to you because you have to maintain a physical distance of six feet.

An Unforgettable Dining Experience

The Hard Rock Cafe menu offer is casual and comfort food. The burgers, ribs and cuts of highquality meat cooked on the grill are a must and they are delicious. So to get here and not enjoy the Original Legendary Burger, the Double Decker Double Cheeseburger and the American sliders topped with onion rings and served on brioche bread, is not to have been here. All burgers are made with high-quality steak meat.

Our dining experience began with a refreshing strawberry basil lemonade — one of the venue’s signature soft drink options — and the Hurricane cocktail, which combines tropical fruits. Then came a shared dish known as the Jumbo Combo, which includes bruschettas with tomatoes, fried onions and crispy chicken strips — breaded on the spot — and spring rolls. Then came the One Night in Bangkok Spicy Shrimp, rich shrimp lightly breaded with a spicy touch and served over a cabbage salad. Delicious!

A plate of fajitas with shrimp, beef and chicken breast accompanied with pico de gallo, Monterey cheese and guacamole continued to delight us, and served as a starter for the arrival of the

One Night in Bangkok Spicy Shrimp

“crown jewel” of the menu: the Baby Back Ribs and Cowboy Ribeye, cooked to perfection and juicy to the point of melting in your mouth and with an unparalleled flavor, thanks to the fact that the meat is previously smoked with hickory wood to enhance its flavor.

The finishing touch to this experience were the desserts. In this case, it was a Hot Fudge

Cowboy Steak with broccoli and mashed potatoes

Brownie with ice cream and whipped cream — served in a huge crystal glass — and the New York Cheesecake. If you want to add another sweet touch to the palate, there are the famous ice cream shakes, especially the Cookies & Cream, which are always suitable.

Hard Rock Cafe is located on Highway # 2, Avenida Santiago de los Caballeros in Ponce.

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