Minority Chamber of Commerce to Open Puerto Rico Reconstruction Center as a Hub to Rebuild Economy of the Island

MCC to Assist National Strategy for Puerto Rican Reconstruction and Growth by Providing Important Gateway for Recovering Effort

MIAMI, Nov. 15, 2017 – As a result of the devastation caused by Hurricane Maria, the Minority Chamber of Commerce (MCC) is launching a new business center in San Juan that will aid in the recovery of the economy of Puerto Rico. This effort is in coordination with national organizations, Chamber members and partners, mayors of Puerto Rican municipalities, businesses, and advocates all joining together to support the resurgence of the local economy and Puerto Rico’s growth goals.

“Puerto Rico’s ability to make the most of its future prospects clearly hinges on whether it can draw U.S. corporations and/or foreign investors to its shores,” said MCC CEO Doug Mayorga. “Considering the magnitude of this crisis in the Caribbean, Puerto Rico truly is an opportune location to do business.”

In anticipation of the advancement of lucrative reconstruction contracts, MCC is evaluating the creation of up to three industrial zones for light manufacturing in the areas of solar energy, construction material, and environment products. These zones would likely be established in Utuado, Caguas and Barceloneta, where local manufacturers would be well placed to service reconstruction projects. 

In addition, a group of representatives of the MCC and representatives of local companies in Puerto Rico will deliver more than 10,000 signatures on the initiative: “Private Sector Speaks out, a Call to the U.S. Government and Puerto Rico, of the Importance in the Reconstruction of Puerto Rico.” 

The petition serves as a call to action to local community governments that the private sector is ready and willing to be part of the transformation and modernization of the island. This petition will be delivered Dec. 7 during the XVII Minority CEO Summit in Washington D.C., and will be live-streamed as MCC members and small businesses in Puerto Rico tell their stories prior to delivering the signatures to the Governor of Puerto Rico Ricardo Rosello and to President Donald Trump. 

The Puerto Rico Reconstruction Center will provide the following services:

1.      24-hour Business Center Hotline.

2.      Relocation center for incoming U.S. companies and for Puerto Rican businesses planning to move to the U.S. mainland. 

3.      Virtual and physical offices with bilingual personnel.

4.      Investor’s center for foreign investors. 

5.      Training center for local companies in Puerto Rico wishing to access U.S. contracts.

6.      Hospitality programs to coordinate on-island stays, transportation, security, and itinerary support.

7.      “Matchmaking Services” with public officials in both U.S. and local governments. 

“With a continued lack of energy and water, the catastrophic situation in Puerto Rico is further exacerbated for local businesses being hit on multiple fronts. We know the facts, and we are taking action with U.S. partners, members, and businesses across the country to deliver this resounding message here and around the world: We still favor Puerto Rico and we will continue to fight for funding and proactive policies by Congress and our president, Donald Trump, that protect our business communities from further desperation,” said Mayorga.

“With the introduction of our Puerto Rico Reconstruction Hub, we will begin the hard work of rebuilding the economy, infrastructure, and modernization. We need to join together to transform the island by investing in the infrastructure of tomorrow including high-speed rail, high-tech schools, good housing, hospitals, and a power grid that is resilient and able to sustain to future extreme conditions”.

In addition, Puerto Rico needs philanthropic organizations that can funnel donations to cities and towns across Puerto Rico that will stimulate the economy, entrepreneurship, and raise incomes and create jobs for the local people. These are just some of the major challenges facing the island.”

MCC is also launching a campaign that will produce grants of between $500 and $5,000 for local “mom & pop” businesses in Puerto Rico. Donations provided by philanthropic organizations and from across the international community will be placed into a MCC trust fund, and used to target upwards of $10 million in reactivating micro-small businesses on the island. Through this innovative financial initiative, MCC plans to stimulate job creation among local entrepreneurs who could use the funding to purchase much-needed generators and others tools to literally reenergize their businesses while laying the groundwork for Puerto Rico’s reconstruction.

Also, a national campaign program called, “Adopt a Micro Business in Puerto Rico,” will set up customized units for mom & pops as well as women- and veteran-owned businesses on the island with a mission of stimulating the overall economy. 

About the Hub: An exclusive business center dedicated to providing up-to-date information, contracts, and public relations for U.S.-based firms wishing to gain access to the Puerto Rico reconstruction effort and to encourage partnership with local counterparts in Puerto Rico that will make a meaningful difference in the economic growth of the island. The program also will serve as a local entrepreneurship center for local business, members, and partners of MCC to help in the provisioning of socially desirable infrastructure and equipment for Puerto Rico’s small businesses. 

About the Chamber: MCC is an independent, business educational, membership-driven economic-development organization. Its mission is to promote commercial, economic, business, and educational relations, and to facilitate trade and investment. MCC also will soon announce the launch of a new division: a Regional Center for U.S. Citizenship and Immigration Services. Such regional centers are an attractive way for Puerto Rico to raise funding. Raising capital via the EB-5 Immigrant Investor Program is quite unique compared with traditional sources of funding – and EB-5 is an exciting and ever-evolving industry development.

For information, contact MCC at [email protected].

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