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A bureau within the U.S. Department of Commerce
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Annual Report

Puerto Rico


Program # of Grants EDA Funds
Technical
Assistance
1 $100,000
Total 1 $100,000

Hosted at the University of Puerto Rico’s Mayaguez Campus, the Business and Economic Development Center is an EDA-funded University Center that is dedicated to advancing entrepreneurship in the Commonwealth. In an effort to promote a strong, local entrepreneurial base, the Center hosts workshops for seasoned and potential entrepreneurs in technology and social enterprises. These workshops provide valuable access to business education and support services, covering topics including effective marketing for small businesses, economic analysis tools to increase business competitiveness, feasibility studies for new microenterprises, business plan development, and internal controls.

Recently, the Commonwealth of Puerto Rico has faced an economic crisis caused by looming debt default. As a result, the Commonwealth government’s staff and financial operation is in the process of restructuring, which has limited Puerto Rico’s ability to develop new investments. The EDA-supported University Center program, which entered its fifth year in 2015, has been critical in assisting local leaders in leveraging opportunities during this time of government transition. Serving a wide variety of clients ranging from government leaders to nonprofits, entrepreneurs and early-stage businesses, the Center provides training to leaders in institutional capacity development and program management.