Revitalizing Agriculture in Puerto Rico: The Impact of Law 60 on Innovative Projects.

Agricultural Innovation

In Puerto Rico, innovation in agriculture is taking an exciting turn thanks to the support of Law 60, formerly known as Laws 20/22. This legislation provides significant tax incentives for both individuals and corporations who are willing to invest in the island. A prominent example of this transformation is Campo Caribe, the future largest hydroponic farm in the Caribbean, located in Barranquitas.

Caribbean Field: An Innovative Project

According to the review published by the newspaper El Nuevo Día, Campo Caribe is in its final stage of construction after two years of development and research, with an investment of approximately 40 million dollars in advanced technology and land. This project not only aims to revolutionize lettuce production in Puerto Rico, offering varieties such as Romana, Butterhead and Spring Mix, but it also aims to be a model of sustainability and efficiency.

The farm will use advanced hydroponic systems that optimize the use of water and nutrients, ensuring constant and high-quality production, resistant even to extreme conditions such as category five hurricanes. This approach not only improves local food security but also minimizes the environmental impact of traditional agriculture.

Benefits of Act 60

Thanks to Law 60, projects and investors such as Campo Caribe can benefit from contributory benefits that facilitate greater reinvestment in innovation and expansion. This law encourages businessmen and companies, such as Michael Tenenbaum, founder of Campo Caribe, to choose Puerto Rico as an investment destination, both because of the incentives for economic development and other advantages offered by the island for specialized agriculture.

Local and Future Impact

Not only is Campo Caribe destined to become a leader in lettuce production in the region, but it is also emerging as a major employer in and around Barranquitas. With expansion plans that could create up to 70 direct jobs, the project is a catalyst for local economic development.

In addition, the company has the vision of expanding its reach to other parts of the Caribbean and to U.S. jurisdictions with a high presence of Puerto Ricans, thus increasing its impact beyond local borders.

Conclusion

Law 60 is a tool for economic and social transformation. Projects such as Campo Caribe show how incentives can be used to promote sustainable and technologically advanced industries in Puerto Rico. This not only improves the local food supply but also positions the island as a leader in agricultural innovation in the Caribbean.

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