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Vrbo

Puerto Rico is trying to lure manufacturing to the island to avoid Trump's tariff war

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Government officials are jumping on planes to try and convince international companies to relocate their manufacturing plants to the island.
Puerto Rico is actively working to attract manufacturing businesses by leveraging its unique position as a U.S. territory, which offers both geographical advantages and economic incentives. The island's efforts are driven by the Puerto Rico Economic Development and Commerce Department, which highlights the benefits of setting up operations in Puerto Rico, including tax incentives, a skilled workforce, and proximity to the U.S. market. The initiative aims to diversify the local economy, reduce dependence on pharmaceuticals, and foster growth in sectors such as aerospace, medical devices, and technology. Despite challenges like infrastructure issues post-hurricanes and the ongoing recovery from economic downturns, Puerto Rico is positioning itself as an attractive location for manufacturers looking to establish or expand their operations.

Read the Full Fortune Article at:
[ https://fortune.com/article/puerto-rico-trying-to-lure-manufacturing/ ]