August 2008: In Search of Growth and Certainty

After a stormy and protracted debate, Puerto Rico finally unveiled a new industrial incentives law, effective July 1st, 2008. This was particularly important not only for the extension of industrial tax and other incentives for local and non-local businesses on the island but because it provided some certainty in a business environment pressed by recession and gridlock politics. The Puerto Rico economy achieved high rates of real economic growth from 1948 to 1973. Since then, it has been searching for growth. Will the new law be enough to compete globally? Will it boost local companies into exports? Find out whether the new law is a small step in the right direction to promote sector-specific activities where Puerto Rico could become competitive by world standards.