CPA and lawyer Jeanelle Alemar Escabí opines in The New Day: Economic Incentives as a Key to Development

Jeanelle Alemar Escabí, a Puerto Rican lawyer and CPA specialist in tax law, has highlighted the importance of economic incentives for Puerto Rico's development in her column entitled “Incentives as a Key to Island Development”. We invite you to read the full article of El Nuevo Día here.

The Role of Incentives in Economic Development

In his article, Alemar Escabí points out that contributory policy has been instrumental in promoting economic development in Puerto Rico. Since the 20th century, the island has used incentives to attract investment and encourage the growth of various industries. Law 60, which integrates former Laws 20 and 22, continues this tradition by offering tax benefits that do not distinguish between national identities, benefiting both locals and foreigners.

Positive Impact on Diverse Sectors

Data from the Department of Economic Development and Trade (DDEC) show that these incentives have been key to creating more than 60,000 jobs and generating more than $240 million in annual revenues over the past decade. The benefits of these programs cover sectors such as manufacturing, the export of services, tourism, agriculture and creative industries.

Debunking Myths and Encouraging Growth

Alemar Escabí also addresses criticism of incentives, stressing that ignoring their importance is a mistake. Incentives not only attract capital, but they also promote a genuine commitment to local development. Attracting proprietary investors creates a dynamic of responsibility and participation that benefits the community.

Conclusion: A Promising Future

At Impulse Boricua, we share Alemar Escabí's vision of the transformative power of economic incentives. We firmly believe that Law 60 will continue to be an essential pillar for Puerto Rico's economic development, attracting investment and creating opportunities.

We invite you to learn more about the impact of Law 60 by reading here the full note by Ms. Alemar Escabí. Together, we can continue to build a prosperous Puerto Rico full of opportunities.

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