Incentives offered for 20 new businesses in Río Piedras

Rep. José Hernández Concepción

By The Star Staff

San Juan District 3 Rep. José “Cheito” Hernández Concepción on Wednesday urged anyone interested in creating a new business in the traditional urban area of Río Piedras to apply for the new economic incentives offered by the Department of Economic Development and Commerce (DDEC by its acronym in Spanish) to promote the revitalization of the historic area.

“There is no doubt that for decades, the urban area of Río Piedras has been going through a difficult time due to economic and demographic realities, as well as the rise of enclosed shopping centers and online sales,” Hernández Concepción said. “With this initiative, we are promoting the creation of 20 new businesses with incentives of up to $10,000 for the purchase of equipment and services that will help them establish a commercial space that generates economic activity for all.”

“I thank Governor Jenniffer González, our mayor, Miguel Romero, and Senators Juan Oscar Morales and Nitza Morán for making this incentive program possible, which will help revitalize Río Piedras,” the New Progressive Party legislator added. “The senators of San Juan, along with myself, have allocated the resources for this program, in conjunction with the DDEC secretary.”

In the heart of the San Juan metropolitan area, Río Piedras was the seat of the Municipality of Río Piedras until 1951, when it was incorporated into the Municipality of San Juan. Historically known as the University City, Río Piedras has a long and rich relationship with the island’s leading educational institution, the University of Puerto Rico, Río Piedras Campus. For many years, Río Piedras was one of the most thriving sectors of the capital city and the economic engine of the region.