Why Puerto Rico
 

The Global Competitiveness Report 2012 - 2013 of the World Economic Forum’s “Global Competitiveness Report,” positioned Puerto Rico in 30th place among 148 countries around the globe. This is the third consecutive year that the island shows improvement in the prestigious index, jumping from 31st place last year and 35th place in 2011, according to the report.Puerto Rico fared well in key areas that the index measures, such as financial market development (18 out of 148), labor market efficiency (38), innovation (24) and business sophistication (19), placing among the world’s 37 “innovation-driven technologies” according to the report.
 

Puerto Rico’s capacity to provide businesses with legal and regulatory efficiency was reflected in its 16th place ranking, while the strength of its auditing and reporting standards earned the island the 10th place position in the index. The island also stood out positively in the area of protection of property rights, ranking 11th, trailing behind some of the world’s strongest economies, namely Finland, Singapore, Switzerland and the United Kingdom, among others. In terms of intellectual property protection, Puerto Rico landed in 7th place out of 148.
 

The island also fared well in terms of its infrastructure — quality of roads (31), port infrastructure (28), and air transport (32).

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Infrastructure and Technological Capabilities
 

Puerto Rico is well-developed and offers state-of-the-art telecom, ISP, and cellular networks all across the Island. Clients are offered the latest and best in software technology, including customized solutions for various applications such as e-commerce, business process re-engineering, system migration, legacy system maintenance, system integration, and much more. Outsourcing companies also maintain uninterrupted communication channels with clients by providing high-speed bandwidth via satellite connectivity, submarine cables and fiber optic networks.
 

Attractive IT Policies
 

The IT industry is supported by a stable pro-IT government whose policies on the economy, GDP growth, taxation, power, telecom and industrial parks have been helpful in improving infrastructure as well as communications systems. IT is regarded as one of the top priority industries in Puerto Rico, and the government is actively reviewing their policies to strengthen the IT sector. The government has offered its support to the IT industry by providing various tax-related and other benefits which recognize its commitment to make Puerto Rico a national and global leader in information technology services and innovation.

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A preferred global destination

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When it comes to the information and communications technologies, Puerto Rico has a long history of excelling in this dynamic industry. Case in point is Microsoft Corporation, which first established a presence on the island in 1990 and has continued to expand to where the island it the company’s principal manufacturing center for all Office products intended for the U.S. market. Cisco, Oracle, Hewlett-Packard and numerous other software and hardware makers also have major operations in Puerto Rico.
 

Likewise, Infotech Aerospace Services (IAS) exemplifies Puerto Rico’s growing prowess in avionics. The company began operations in Puerto Rico in 2003 and expanded into a 60,000-square-foot building in Isabela due to its “successful operations and explosive growth.” Honeywell Aerospace, Lockheed Martin, Pratt & Whitney and Hamilton Sunstrand are just a few of the other companies developing and manufacturing avionics here.

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Fueling Puerto Rico's growth in the IT sector are these assets:

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• International Traffic in Arms Regulation (ITAR) Compliance: As a U.S. jurisdiction, Puerto Rico complies with this regulation that states that defense and military-related technologies may only be accessed by U.S. citizens.

• Highly Educated Workforce: Puerto Rico is home to two of the top 20 largest engineering programs in the nation at the Polytechnic University of Puerto Rico and the University of Puerto Rico, Mayagüez campus. More than 10,000 degrees in science, engineering and technology are awarded each year by colleges on the island.

• Manufacturing Expertise: Although Puerto Rico boasts the lowest labor costs of any region under U.S. jurisdiction, the island’s bilingual workforce is well known for its high productivity with significant expertise in process development, automation, quality control/assurance, warehousing and more.

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