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Manufacturing in Puerto Rico is the largest economic sector in the economy of Puerto Rico; composing almost half (about 46%) of the gross domestic product (GDP) of Puerto Rico. All manufacturers in Puerto Rico are in some way interconnected with the Puerto Rico Industrial Development Company (PRIDCO) which provides substantial incentives for ...
The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
The pharmaceutical industry in Puerto Rico encompasses more than half of all manufacturing done in Puerto Rico.As the island's most prominent industry, pharmaceutics generates more than 18,000 jobs, pays more than US$3 billion in taxes, comprises about half of total exports, and has generated more than 25% of the island's GDP for the past four decades. [1]
Don Q Añejo, a barrel-aged rum. Rum (ron in Spanish) production has been an important part of Puerto Rico's economy since the 16th century. While sugar cane harvesting has virtually disappeared in Puerto Rico (except for a few isolated farms and agricultural experiments), distilleries around the island still produce large amounts of rum every year.
Location of Puerto Rico. Puerto Rico is an unincorporated territory of the United States located in the northeast Caribbean Sea. It is an archipelago that includes the main island of Puerto Rico and a number of smaller ones such as Mona, Culebra, and Vieques. The capital and most populous city is San Juan.
The federal government of the United States together with what is known today as the Puerto Rico Industrial Development Company set forth a series of ambitious economical projects that evolved Puerto Rico into an industrial high-income territory compared to the region.
Goya Foods, Inc., is a producer and distributor of foods and beverages sold in the United States and many Spanish-speaking countries.It has facilities in the United States, Puerto Rico, the Dominican Republic and Spain.
This was followed by expanding its market to the Caribbean area. In the 1960s, the company added new technology, marketing plans, and management turning "Rovira" into a household name among consumers in Puerto Rico. Also in the 1960s, the company expanded its marketing into areas in the United States beyond the East Coast. [15]