fomento al talento
DESCRIPTION
Puerto Rico is on the cusp of a powerful opportunity to drive job creation in the aerospace sector. However, the graduate schools must increase enrollment in STEM programs by one order of magnitude in order to maintain job-creation and entrepreneurial momentum.TRANSCRIPT
Fomento al Talento
Marcos J. Polanco
Director
Information & Communication Technologies
Puerto Rico Industrial Development Company
• Puerto Rico’s official investment promotion agency
• Manufacturing focus since 1942
• Generating jobs through the development of a vibrant knowledge economy, particularly in the biosciences, information technology and aerospace sectors
• Offers business intelligence, facility selection, project management support, investment incentives and one-stop customer service
• Hosts over 1,400 client firms, responsible for over 11% of Puerto Rico’s workforce
What is the Puerto Rico Industrial Development Company?
CapitalCapital
FollowsFollows
TalentTalent
Talent for Aerospace
What is Aerospace?
Robust Growth…
…Threatened by Talent Crunch
Retiring Workforce
Cannot Go Abroad
Tight Talent Supply
Knowledge Work
Deep Source of Quality Talent
Over 2,000 Career Opportunities!
Navigating the Future
Puerto RicoEconomic Incentives
FINANCING
INCOME TAX RATES
LEASE
INFRASTRUCTURE
MACHINERY & EQUIPMENT
UTILITIES
SALARIES
Training R & D50%
SupplyChain
DIVIDENDS
PRIDI100% Exempt Bonds
0% Tax
Up to 5K / job creationduring its 1st year operation
25% Purchase of products manufactured in PR
4% general scenario
100% deduction of investment
10% Electricity Tax Credit50% Renewable Energy
Tax Credit
$3-$8 p2
CDORHWIA Funds
PRIDCO Match Funds
Investing in Puerto RicoInvesting in Puerto RicoInvesting in Puerto RicoInvesting in Puerto Rico…………
…………is a lucrative propositionis a lucrative propositionis a lucrative propositionis a lucrative proposition
Math & Science Schools – Caguas & Carolina
Operación Éxito
NSF/UPR Math & Science Partnership Program
PUPR Puerto Rico Institute of Robotics
PRIDCO Scholarships for Teachers & Students
National Science Foundation Engineering Research Centers
PRIDCO for Entrepreneurs
Inspecting the Data
532851U. of Florida
51631Puerto Rico
Cornell
Georgia Tech
U. of Michigan
579714
7471475
7621068
Graduate
Degrees
Undergraduate
Degrees
Undergraduate & Graduate Enrollment in Selected Institutions
Source: American Society for Engineering Education, 2006-2007
Aerospace Challenge - Tools
• 50% tax credit for research & development
• 100% tax exemption (capped) for top university researchers attracting
federal funding
• Special Fund for Economic Development (Act #73, Section 17)
– 17(1) Special incentives for scientific and technical research and the
development of new industrial products and processes, which may be
carried out, among others, directly or in agreements with government
agencies or public and private universities or with any natural or juridical
persons with knowledge and experience…
– 17(8)Provide special incentives for research and development directed to
bioscience, information technology, bio-medics, and aeronautical
engineering.
– 17(10)(e)The establishment of educational programs at all levels with
emphasis on languages, sciences and mathematics.
Marcos PolancoDirector
Information & Communication Technologies, Engineering & Aerospace
Puerto Rico Industrial Development Company
787-759-7578 (PR)
www.pridco.com