Tech firm Pharos Solutions to invest $13 million, create 118 jobs.

Pharos Solutions CEO David Sturt (LinkedIn)

By THE STAR STAFF

Technology company Pharos Solutions Inc. will make a multimillion-dollar investment in technology, infrastructure and local talent as part of a major expansion, officials announced Monday.

With support from the Department of Economic Development and Commerce (DDEC by its acronym in Spanish), the company’s expansion is expected to generate 118 highly skilled jobs and an estimated payroll of $13 million, strengthening its operations in Puerto Rico.

“Today we continue to see the results of our strategies for economic growth, with the creation of more well-paying jobs and progress in the digital transformation of Puerto Rico,” Gov. Jenniffer González Colón said in a statement. “We thank Pharos Solutions for investing in local talent. Our commitment as a government is to continue supporting companies that invest in our people and that believe in the island’s potential to compete globally.”

According to the DDEC, the expansion project includes two government incentives: $590,000 for job creation and $50,000 for marketing support. Officials say the incentives will help strengthen Pharos Solutions’ Puerto Rico operations, boost the export of technology services, and enhance the competitiveness of the local industry.

“Pharos Solutions represents the type of innovative company we want to continue attracting and supporting at the DDEC,” DDEC Secretary Sebastián Negrón Reichard said. “This investment demonstrates that opportunities in the knowledge economy are here on our island, and that we can lead the technological advancements of the future from the Caribbean.”

Pharos Solutions was created in 2021 as a spin-off from Rock Solid Technologies, a Puerto Rican company founded in 1994, to expand its international reach and reinforce its commitment to the island. The company specializes in enterprise resource planning, or ERP, system implementation, technology integration, and custom software solutions for clients in the United States, the Caribbean and Canada. As a Microsoft Gold Partner, Pharos is recognized for its excellence in enterprise integration services and advanced digital solutions.

The company’s expansion plan calls for hiring software engineers, analysts, quality assurance specialists, accountants, and certified project managers, with salaries competitive with those in the continental United States. Pharos also maintains internship, scholarship and training programs in partnership with the University of Puerto Rico and other local academic institutions to help develop technology professionals on the island.

“Through these incentives, we are not only growing our business, we are investing in people, in innovation, and in the future of Puerto Rico as a global technology hub,” Pharos Solutions CEO David Sturt said. “By integrating artificial intelligence and next-generation solutions into our work, we are proving that world-class software can be developed right here on the island.”