Fomento al Talento

Marcos J. Polanco

Director

Information & Communication Technologies

Puerto Rico Industrial Development Company

• Puerto Rico’s official investment promotion agency

• Manufacturing focus since 1942

• Generating jobs through the development of a vibrant knowledge economy, particularly in the biosciences, information technology and aerospace sectors

• Offers business intelligence, facility selection, project management support, investment incentives and one-stop customer service

• Hosts over 1,400 client firms, responsible for over 11% of Puerto Rico’s workforce

What is the Puerto Rico Industrial Development Company?

CapitalCapital

FollowsFollows

TalentTalent

Talent for Aerospace

What is Aerospace?

Robust Growth…

…Threatened by Talent Crunch

Retiring Workforce

Cannot Go Abroad

Tight Talent Supply

Knowledge Work

Deep Source of Quality Talent

Over 2,000 Career Opportunities!

Navigating the Future

Puerto RicoEconomic Incentives

FINANCING

INCOME TAX RATES

LEASE

INFRASTRUCTURE

MACHINERY & EQUIPMENT

UTILITIES

SALARIES

Training R & D50%

SupplyChain

DIVIDENDS

PRIDI100% Exempt Bonds

0% Tax

Up to 5K / job creationduring its 1st year operation

25% Purchase of products manufactured in PR

4% general scenario

100% deduction of investment

10% Electricity Tax Credit50% Renewable Energy

Tax Credit

$3-$8 p2

CDORHWIA Funds

PRIDCO Match Funds

Investing in Puerto RicoInvesting in Puerto RicoInvesting in Puerto RicoInvesting in Puerto Rico…………

…………is a lucrative propositionis a lucrative propositionis a lucrative propositionis a lucrative proposition

Math & Science Schools – Caguas & Carolina

Operación Éxito

NSF/UPR Math & Science Partnership Program

PUPR Puerto Rico Institute of Robotics

PRIDCO Scholarships for Teachers & Students

National Science Foundation Engineering Research Centers

PRIDCO for Entrepreneurs

Inspecting the Data

532851U. of Florida

51631Puerto Rico

Cornell

Georgia Tech

U. of Michigan

579714

7471475

7621068

Graduate

Degrees

Undergraduate

Degrees

Undergraduate & Graduate Enrollment in Selected Institutions

Source: American Society for Engineering Education, 2006-2007

Aerospace Challenge - Tools

• 50% tax credit for research & development

• 100% tax exemption (capped) for top university researchers attracting

federal funding

• Special Fund for Economic Development (Act #73, Section 17)

– 17(1) Special incentives for scientific and technical research and the

development of new industrial products and processes, which may be

carried out, among others, directly or in agreements with government

agencies or public and private universities or with any natural or juridical

persons with knowledge and experience…

– 17(8)Provide special incentives for research and development directed to

bioscience, information technology, bio-medics, and aeronautical

engineering.

– 17(10)(e)The establishment of educational programs at all levels with

emphasis on languages, sciences and mathematics.

Marcos PolancoDirector

Information & Communication Technologies, Engineering & Aerospace

Puerto Rico Industrial Development Company

787-759-7578 (PR)

mpolanco@pridco.com

www.pridco.com