BLS & Co. periodically revises the state incentive pages to ensure our firm is providing the most current information on legislative and regulatory developments affecting available programs. Updates will be posted in the near future. In the interim, please call BLS & Co. with any questions at 609.924.9775 or reach out via email at info@BLSstrategies.com.
MANUFACTURING ACTIVITIES: Act 73-2008 (Economic Incentives for the Development of Puerto Rico) provides a series of incentives available for qualified manufacturing activities, including production, scientific R&D, and software development. A partial list includes:
These incentives are “as-of-right,” provided by statute, but only if the project applies for and receives the 15-year tax exemption decree. Further, the company will be expected to comply with certain employment, investment, production and/or sales requirements.
EXPORT SERVICES: Act 20-2012 (Act to Promote the Exportation of Services or Export Services Act) provides tax incentives for export service operations exporting services. Eligible activities include R&D; call centers, shared service centers; professional services; consulting; investment banking and financial services; and hospital and labor services, among others, but they must be entirely export-oriented (i.e., no nexus in Puerto Rico).
These incentives are “as-of-right,” provided by statute, but only if the project applies for and receives the 20-year tax exemption decree. Further, the company will be expected to comply with certain employment, investment, production and/or sales requirements.
Reimbursable grants for on-the-job and customized job training are available for qualified projects.
The Puerto Rico Industrial Development Company (PRIDCO), the economic development entity representing Puerto Rico, has discretionary ability to provide direct grant assistance for job creation and infrastructure improvement for preferred projects.
Additionally, PRIDCO has a portfolio of owned properties across the island, which it can make available to preferred projects at below-market lease rates.