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Puerto Rico: Isla de oportunidades
en Estados Unidos
Presentación a:
27 de febrero de 2013
Bilbao, País Vasco
Puerto Rico at a glance – basic facts
Atlantic Ocean
Caribbean Sea
Easternmost island of the Greater Antilles,
surrounded by the Atlantic Ocean to the
north and the Caribbean Sea to the south
Size: Roughly 100 miles x 35 miles
Population: 3.7 Million
Official Languages: English and
Spanish
Official Currency: U.S. Dollar
Gross Domestic Product (GDP): $96.3 B
GDP per Capita: $23.5 K
It’s strategic location, midway between
North and South America, makes it the
perfect gateway between both continents
Direct flights from Miami (2.5 hours), New
York (3.5hours) and direct international
flights to Caracas, Madrid, Frankfurt,
London and Panama City
Puerto Rico at a glance – Puerto Rico’s economy
today
Given its location (in the middle of the Caribbean,
with great beaches and resorts), many people view
Puerto Rico as tourist hotspot.
Q: How much does the Tourism sector contribute to
Puerto Rico’s GDP (%)?
4%
Puerto Rico at a glance – Puerto Rico’s economy
today
Composition of the economy for FY 2010
In $ Billions
GDP:
$96.3 B
GSP:
$63.3 B
GDP per capita:
$24,229
Manufacturing
FIRE*
Imports:
$40.8 B
75%+ of
GDP
$44,640
$18,860
Exports:
$61.7 B
$13,670
Services
Source: Puerto Rico planning Board
Nota: * FIRE is Finance, Insurance and Real Estate
$8,270
$7,710
Government
Commerce
$1,660
$891
Construction/ Mining Transportation/ Utilities
$553
Agriculture
Puerto Rico at a glance – did you know?
1
2
Puerto Rico is ranked #35 in the World Economic
Forum’s Global Competitiveness Report for 2012,
sitting close to Ireland # 29 and Chile # 31
11 out of the top 15 pharmaceutical and biotech
companies have manufacturing sites in PR
11 out of the top 20 medical devices companies
3
have manufacturing sites in PR
4
Honeywell operates business support operations such
as engineering design, supply chain, finance, and IT
among other, for the Company’s defense programs
5
Most of Microsoft software updates downloaded in
the Americas is validated and distributed from Puerto
Rico
6
A large number of the crops of the future (corn,
soybean, cotton, rice, etc.) are being developed in
Puerto Rico by companies such as Monsanto,
Dupont, and Dow
7
Amgen has its largest manufacturing facility
located in Juncos, PR. More than 90% of its
products are either formulated, finished or
packaged in this site.
Puerto Rico at a glance – Puerto Rico’s future industrial
strategy
The Government of Puerto Rico is placing all of its efforts in establishing the
environment (enablers) to support industrial value chains of high value goods, from
concept to market (including services, support and management functions)
Economic,
Economic, fiscal,
fiscal, legal
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and regulatory
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rke
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and
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Puerto
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Puerto Rico’s value proposition
Economic,
Economic, fiscal,
fiscal, legal
legal and
and regulatory
regulatory stability
stability
A. Legal and regulatory:
Applicability of the U.S. Constitution and presence of the Federal
Court
Intellectual property protection under U.S. law
U.S. Currency, and banking regulated under the U.S. system (FDIC)
Under the U.S. customs border jurisdiction
Participation in the trade agreement of the U.S.
Access to federal funds for infrastructure, social programs,
education and research, among other
No passport required for U.S. Citizens traveling to Puerto Rico
Allows work on International Traffic in Arms Regulation (ITAR)
contracts without restrictions
Puerto Rico’s value proposition
Talent
Talent and
and experience
experience
Puerto Rico'
s university system graduates
over 43,000 bilingual students each year1
Over 18,000 degrees awarded annually in
science, engineering and technology
Home to top engineering schools in the U.S.
• University of Puerto Rico, Mayagüez
Campus
• Polytechnic University of Puerto Rico
Access to federal research funding from
such agencies as NSF, NIH, NCI, NOAA,
NASA, and others
Sustains continuous
supply of educated
workers at all skill
levels
Puerto Rico’s value proposition
Talent
Talent and
and experience
experience
Talent availability - over 100 academic institutions throughout the island, including
schools, universities, colleges and technical institutes supplies technical and nontechnical talent to industries located throughout the island
Puerto Rico’s value proposition
Talent
Talent and
and experience
experience
Our workforce is also characterized by its knowledge, skill,
experience and productivity.
• Significant knowledge and expertise in
GMPs, process development, automation,
quality control/assurance, FDA and global
regulations
• Over 65 years of experience in
manufacturing
• High productivity and quality of labor
Puerto Rico’s value proposition
Talent
Talent and
and experience
experience
Average Hourly Earnings of Production Workers in PR
(as a Percent of Average U.S. Earnings)
US
Average
(100%)
Hourly earnings in manufacturing average 65% to 80% of the
U.S. average.
Puerto Rico’s value proposition
Talent
Talent and
and experience
experience
Comparison of Average Hourly Earnings of Production Workers
in PR and AZ:
Puerto Rico’s value proposition
Infrastructure
Infrastructure and
and buildings
buildings
Comprehensive Transportation Network – Air
Network of airports strategically
located throughout the island
Total of 11 international and regional
airports
Leading international airport in the
Caribbean – San Juan Luis Munoz Marin
airport handles over 4,300 cargo flights
per month and over 1,300 weekly flights.
Direct air access to US, Caribbean
and international cities
Over 70 direct daily flights to/from 19
major U.S. cities
Service to 25 cities in the Caribbean
Direct access to Madrid, Panama,
Toronto, London, and Caracas
Puerto Rico’s value proposition
Infrastructure
Infrastructure and
and buildings
buildings
Comprehensive Transportation Network – Sea
Network of seaports throughout
the Island
Port of San Juan – 10th busiest
seaport in the world
Total of 11 seaports and two seaports in
planning phase
Over 40 shipping lines providing service
to 80 domestic and foreign ports
State-of-the-art port facilities, including
a trans-shipment seaport with postPanamax vessel capability
Average shipping times from Puerto Rico
to North America and Gulf ports is only 3
to 4 days; 10 days to the North
American West Coast, and 14 days to
Europe.
Puerto Rico’s value proposition
Infrastructure
Infrastructure and
and buildings
buildings
Comprehensive Transportation Network – Ground
Extensive highway system of over
24,000 miles
Highway network ensures all points on
the island are no more than two hours
from an airport or seaport
Mass transit system interconnecting
the metropolitan area
The “Urban Train” is recognized by the
U.S. Federal Transit Administration as
the safest and most efficient in the U.S.
Puerto Rico’s value proposition
Infrastructure
Infrastructure and
and buildings
buildings
State-of-the-Art Telecommunications
Fiber Optic Network
• Island-wide broadband service with fiber optic
telecommunications network available
throughout the Island
• Long distance voice, data and video services,
as well as WATS lines (800 and 888 numbers)
are offered by several providers including
AT&T, MCI, Sprint and PRT
Reliable Utility Network
• Electric system connectivity with a generation
capacity of approximately 5,000 MW
• Operation of nearly 10,000 miles of water
mains and aqueducts and waste treatment
facilities throughout the island
• Water quality standards meet the same
stringent Environmental Protection Agency
standards as in the U.S. mainland
Electric Transmission System
Puerto Rico’s value proposition
Economic
Economic incentives
incentives
R&D
R&D
Manufacturing
Manufacturing
•
50% tax credit on eligible research and development activities
•
0% - 1% pioneer tax rate for a technology, product or process
developed or manufactured in Puerto Rico
•
Tax exemption for the first $250,000 in income earned by researchers
and investigators working in the Puerto Rico’s Science District or any
other facility that the Puerto Rico Science and Technology Trust
extends a Science District Zoning
•
4% income tax rate /12% withholding on royalty payments
•
Excise tax on sales to affiliates
•
Cash grants for job creation and retention
•
Cash grants for training
•
Industrial properties (Greenfields or existing facilities) at attractive prices.
Buy-leasebacks and other financing agreements available.
•
Cash grants for infrastructure improvements
Puerto Rico’s value proposition
Economic
Economic incentives
incentives
Sales
Salesand
and
distribution
distribution
WIA
WIA
Incentives
Incentives
•
4% income tax rate on sales of goods and services to entities outside of
Puerto Rico
•
Pre-qualified free trade zones throughout Puerto Rico (no custom duties
upon entry to PR, only paid when shipped to the U.S.)
•
Income tax exemption on property and inventory
On the Job Training
-Reimburses 50% wages during training period
-Reimburses cost of tools & materials for training Retraining /
Occupational Improvement
-Reimburses 50% wages during training period
-Reimburses cost of tools & materials for training
University Impact
-University students in 3rd or 4th year of bachelor’s degree
-Part-time job
Puerto Rico’s value proposition
Panorama
Panorama general
general
Oportunidades de negocio:
La renta per capita más alta de Latinoamérica.
Bicultural y bilingüe
Estabilidad política y económica
El sector retail es uno que sigue presentando numerosas
oportunidades.
Mayores ventas de los Estados Unidos.
Mayor concentración de centros comerciales en Latinoamérica.
Puerto Rico sigue siendo la entrada más sencilla al mercado de
EE.UU.
Acceso a los “wholesalers, discount stores and retailers” más
importantes de Estados Unidos.
“MADE IN USA”
Acceso a fondos federales para infraestructura, educación e
investigación, entre otros.
Puerto Rico’s value proposition
Empresas
Empresas españolas
españolas en
en Puerto
Puerto Rico
Rico
Adolfo Rodriguez
Oficina del Gobierno
de Puerto Rico en España
[email protected]