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Writer's pictureThe San Juan Daily Star

COR3 reports increase in reconstruction works for third quarter of 2024


Executive director of COR3 Manuel A. Laboy Rivera.


By THE STAR STAFF


The number of reconstruction works related to the disasters of Hurricane Maria and the 2020 earthquakes paid for with funds allocated by the Federal Emergency Management Agency (FEMA) increased from July to September, the executive director of the Central Office of Recovery, Reconstruction and Resilience (COR3) Manuel A. Laboy Rivera said.


The revelation was made in a Quarterly Progress Report.


“The technical assistance that we at COR3 offer to municipalities, non-profit entities and government agencies has been key to promoting reconstruction projects until they are completed. According to the new Quarterly Progress Report completed by municipalities, government agencies, and non-profit organizations, there are 10,137 reconstruction works in progress resulting from the disasters of Hurricane Maria and the earthquakes, with funds allocated by FEMA, amounting to $13.1 billion, which reflected an increase of 2,096 more projects in development when comparing the data with the same quarter in 2023,” explained Laboy Rivera.


The Quarterly Progress Report also reported a 64% increase, reaching 3,877 completed works with estimated investments of $793.1 million. As of September 2023, 2,358 completed projects were reported with approximate costs of $525.4 million.


As an example, among the projects completed in the third quarter of 2024, are: the Central Laboratory of the Water and Sewer Authority, in Caguas. This is the only laboratory in the Caribbean certified by the Environmental Protection Agency (EPA) and the Department of Health to perform critical water quality tests. The Punta Salinas Spa in Toa Baja, the Manuel González Theater in Lajas, and the Félix Herrera Cruz sports complex in Yabucoa, among others, also completed their development.


When comparing the data with the previous quarter from April to June 2024, the entities leading the works reported 546 more works between the design acquisition stages and construction, representing $1,277 million in additional investment. Meanwhile, 327 works ($95.2 million) were added to the completed category.


“The growth in the course of the works has been constant. When comparing the current period with the same period corresponding to 2022, some 4,535 additional works have been executed. This represents an increase of $8,684 million in investment. In the case of completed works, there was a 173% increase. As a result of the boost in the development of the works, the Economic Development Bank revealed that the cement sales index in October increased by 15.2%, and in the month of September, the number of jobs in the construction sector rose to 37,500, which represents a growth of 4.7%,” said Laboy Rivera.

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