Thursday, May 14, 2015
San Juan, PR – The Commonwealth of Puerto Rico ranked number 9 in the list of best destinations to invest (“Best to Invest 2015”) in Latin America and the Caribbean, according to a publication of Site Selection magazine. The publication also ranked the performance of Puerto Rico in terms of investment per capita, ranking the island at the number 4 in the region.
“Puerto Rico ranks among the best investment destinations in our region. It is important for us to continue developing and improving our capabilities and competitive advantages in order to maintain our prominent positioning in the business world”, said Antonio Medina Comas, executive director of the Puerto Rico Industrial Development Company (PRIDCO).
The rankings are based on a five-part index, one of them being Site Selection’s proprietary New Plant Database which tracks projects investing a minimum of US $1 million, creating 20 or more new jobs or involving at least 20,000 sq. ft. of new space. Other criteria include location’s ranking on four other indexes: ranking in the World Bank’s “Doing Business 2015” report; overall rank in The Global Competitiveness Report 2014-2015 from the World Economic Forum; the Human Development Index from the United Nations Development Programme; and GDP growth.
“Entering this prestigious list validates efforts like those made recently during the Site Selectors Guild Annual Conference in Puerto Rico. During this meeting, we gathered hundreds of business location consultants and economic development professionals to show them the attributes of Puerto Rico as an investment destination. Thus, Puerto Rico remains visible among those responsible for advising companies about future business investments, particularly those of industrial nature”, added Medina Comas.
Puerto Rico has one the largest manufacturing footprints in the world, with approximately 46% of its GDP derived from related industries. Puerto Rico’s unique combination of skilled workforce, strong infrastructure and attractive tax incentives make it a preferred investment destination. As a U.S. jurisdiction, it also provides a strong financial and regulatory environment that secures protection and high quality of products and services.
Site Selection magazine, published by Conway, Inc., delivers expansion planning information to 48,000 subscribers, many of them employed by fast-growing firms. To access the full publication visit the following link: