Manufacturing leader says reliable energy is key to attracting foreign firms

Manufacturers Association President Rafael Vélez Domínguez

By The Star Staff

Manufacturers Association President Rafael Vélez Domínguez is insisting that Puerto Rico will not attract foreign firms until it has a reliable electrical system.

He made his remarks during Wednesday’s “Caucus with the Government” event organized by the professional association.

“We cannot attract companies to establish themselves in Puerto Rico, and we cannot talk about economic development if we do not have a reliable, sustainable, and affordable electrical system,” Vélez Domínguez said. “Well, we are doing the best we can to improve it. Instead of sitting back and criticizing, we are actively participating with the government to make things better.”

The number of blackouts are expected to increase in the summer.

This week, Gov. Jenniffer González Colón signed Executive Order (EO) 2025-012 to incentivize the return of manufacturing to Puerto Rico. The order seeks to consolidate the island as a key destination for production and exports within the United States, taking advantage of its established manufacturing infrastructure, strategic location and competitive incentive ecosystem.

Emphasizing the importance of reshoring, the governor said “Puerto Rico is ready to welcome and expand multinational companies, ensuring that our people have access to more and better job opportunities.” The initiative boosts the local economy and strengthens U.S. national security by enhancing supply chain resilience and emergency response capabilities, González Colón said.

EO 2025-012 signals a firm commitment to revitalize Puerto Rico’s manufacturing sector by defining reshoring as relocating or expanding a company’s activities to its home jurisdiction. With the renewed focus on reshoring, the governor noted, the island is poised to become an even more attractive location for businesses seeking to optimize their supply chains and contribute to the region’s commercial growth.