Today, U.S. Deputy Secretary of Commerce and Puerto Rico Economic Growth Coordinator Don Graves announced that the Department’s Economic Development Administration (EDA) has designated the first regional Economic Development District (EDD) in Puerto Rico, the Southern Puerto Rico Economic Development District (SPREDD). “President Biden is committed to ensuring that no community or demographic...

Today, Deputy Secretary Graves met with Puerto Rico Financial Oversight and Management Board (FOMB) Executive Director Robert Mujica to discuss efforts on economic development and the Biden-Harris Administration’s priorities for the archipelago, which were framed around Economic Deliverables agreed upon during last December’s Joint Economic Dialogue . As Puerto Rico Economic Growth Coordinator...

Treasury Department Announces Puerto Rico to Receive up to $109 Million to Promote Small Business Growth and Entrepreneurship through President Biden’s American Rescue Today, the U.S. Department of the Treasury announced Puerto Rico will receive up to $109 million in funding under the State Small Business Credit Initiative (SSBCI) in President Biden’s American Rescue Plan. Treasury has now...

A network of foundations is coming together to align historic investments in Puerto Rico in parallel to the Biden-Harris Administration’s Puerto Rico Economic Dialogue. These commitments will support capacity building in local municipios, promote arts and culture, bolster renewable energy, and ensure sustainable agriculture. Committing organizations include: Ford Foundation, Filantropia Puerto...

“Hurricane Maria wrought devastation upon Puerto Rico five years ago. As we approach this solemn anniversary, Puerto Rico is once again sustaining severe weather, this time from Hurricane Fiona. The storm has caused disastrous, life-threatening flooding and left the archipelago completely without power. The Biden Administration has acted swiftly in issuing an emergency declaration for Puerto Rico...

Today, Deputy Secretary of Commerce Don Graves met with Puerto Rico Governor Pedro R. Pierluisi to announce the intent of the federal government, in partnership with the government of Puerto Rico, to hold an Economic Dialogue in Washington, D.C. this fall. As part of the Administration’s ongoing commitment to Puerto Rico’s economic prosperity, we are also announcing that Deputy Secretary Don...