Click to edit Master text stylesVieques and Culebra

Task Force

Click to edit Master text styles• Leverages and

enhances the unique

assets, amenities and

attractions of all three

• Premiere ”Eco-

Tourism” Potential at

the Foothills of El

Yunque National

Forest

• Prime Launch point or

“portal” to the

adjacent Islands and

the Caribbean

• Catalyst to the

Neighboring Resorts

and Tourist

Attractions

Green Triangle/Triangulo VerdeRoosevelt Roads, Vieques , and Culebra identified as key focal areas for Economic Development of the Eastern Region

Click to edit Master text styles• Act 153 calls for DDEC to establish an economic development plan with

regulations that rule over the land use plan, as well as other commercial

establishments, special community programs, healthcare reform, educational

reform, and everything related to infrastructure, tourism and others

Designate an Executive Director to focus on Vieques and Culebra initiatives,

someone who thoroughly understands the intricacies of such islands

Develop mechanism to stimulate entrepreneurship and creation of small

businesses by providing access to capital

Increase air access to Vieques and Culebra - PRTC Coop marketing program $1 per seat

• Revise Land Use Plan with the support of Vieques and Culebra municipalities

• Create a detailed tourism development plan which includes territorial plans

of where to place hotels and attractions

Manufacturing Initiatives

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DDEC spearheads initiatives for the development of Vieques and CulebraVieques and Culebra

Vieques and Culebra

Objective:

Development Strategy:

Act 15308/2002

Vieques and Culebra Implementation of Act No.153 of August 10th 2002

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Project Description:

• Develop a public/private structure to provide the community with access to capital for sustainable businesses

− Loans up to $25,000− Economic Development Bank is the lender− Structured training sessions are a prerequisite for

EDB to process the loan application

Objectives:

• Stimulate the creation or expansion of Tourism related business

• Provide adequate training during all steps of the businesses development cycle

Progress and Results:

• The Government of Puerto Rico has allocated $2 million through the EDB to

• $100,000 have been approved for training sessions on how to create a business plan and how to build your own business, as well as how to manage it when it is operational

• Over 100 Viequenses and Culebrenses have passed through the training session and have created their business plans during our first two training sessions

− Participants left the session with printed business plans and loan applications filed with the EDB

TopicTopic DescriptionDescription

Vieques and CulebraEconomic Development Projects – Develop mechanism to stimulate entrepreneurship and creation of small businesses by providing access to capital

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Culebra TrainingCulebra Training

Vieques TrainingVieques Training

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Vieques and Culebra Micro-loans Program

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Amount Up to $25,000

Rate Variable interest rate of 2% over prime

Term 3 – 5 years with up to 3 months interest

only

Wellness 3

Transportation 11

Hotel / Guest House 8

Beach Entertainment 10

Tours 9

Restaurants 22

Stores 11

Services 9

Agriculture 5 Puerto Rico Crafts -

"Artesania"2

Others - Gas Station & VAL 8

Total 98

Loan Terms Loan Terms

Type of Business Impacted

Type of Business Impacted Participants Participants

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Vieques and Culebra Microloans ProgramAccess to training and financing where the public left the sessions with a complete business plan and loan applications filed with the Bank

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Vieques Business – program participant Vieques Business –

program participant Homeless Dog Café –

Culebra catering serviceHomeless Dog Café –

Culebra catering service

On the spot creation of business plans

On the spot creation of business plansTraining in CulebraTraining in Culebra

Dec. 2010

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Vieques TrainingVieques Training

On the spot creation of business plans

On the spot creation of business plansCulebra TrainingCulebra Training

Culebra TrainingCulebra Training

Vieques and Culebra Microloans ProgramAccess to training and financing where the public left the sessions with a complete business plan and loan applications filed with the Bank

Mar. 2011

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Vieques and Culebra

• Support the Vieques and Culebra Executive Director on efforts to develop both islands

• Assist in promoting DDEC’s access to capital initiative

• EPA and White House support in requesting FAA’s approval to accommodate the category B-III

aircraft service (airplanes with 30+ seats) in the Antonio Rivera Rodriguez (VQS) Airport

• Cooperation and support from local municipalities with the revision of the Land Use Plan

– DDEC is financing the revision of the study for the municipalities

• Collaboration in keeping Vieques and Culebra up to speed with its tourism offering

– Enhancement of Bio Bay access

– Renovation (“face lift”) of Esperanza Pier to accommodate Seadreams requests

– Cleanliness of beaches and public areas

– Recycling opportunities

• Collaboration with EPA/PREQB/NAVY to accelerate Superfund site cleanup

Collaboration Opportunities and Next Steps

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Click to edit Master text stylesVieques and Culebra

Task Force