This is the first article in a blog series focused on the necessity of a digital transformation on the local government practices. As an Act 20 company, we want to partner with local initiatives that want to create solutions. We believe in the future of Puerto Rico. Next Tuesday, we are pleased to join Piloto 151 in the forum Dear Fiscal Board to discuss new possibilities for the island.
More than a financial crisis, the Puerto Rican government has an immediate crisis, one that has been a silent killer of the island for many years. The financial crisis is making headlines but there’s a toxic and unfortunate chaos that is being ignored. The government agencies are operating under a poor, mediocre and inefficient cycle, one that is costing the government more than money.
History shows that Puerto Rico relied on agriculture as the main source of economic income since the Borinquen Indians. Records from a 1935 census have evidence that approximately 246,386 people depended on agriculture for living.
With tropical temperatures and fertile soil, the land was used to produce fruits and vegetables that were exported. About 24,000 pounds of sugar cane were exported to Spain in 1553 and for the year 1939, sugar shipments valued at $53,604,381 were exported to North America.
As of November 2016, there were more than four hundred Act 20 decrees approved for operation in Puerto Rico. For a country that has not registered economic growth since 2006, this represents a new chance to recover from a seventy thousand million financial deficit.
As other countries like Australia and Costa Rica have used their natural and cultural resources to develop a sustainable tourism program. Puerto Rico is in the perfect moment to embark on a journey towards becoming a destination hub for the Caribbean.
Before the labor reform was approved, the job panorama in Puerto Rico was not a promising one. With the highest unemployment rate in the United States, people were hunting for the available positions, no matter their field.
Puerto Rican residents and the general media were not ecstatic to find out the, recently approved, employment reform resolutions did not include the public sector, which carries the biggest payroll of the government.
The new employment reform is a tool the government of Puerto Rico created to be implemented by the private industry. The main goal is to use these new reforms to promote economic development opportunities.
From the small town cafeteria that has been passed down for generations, to the young unexperienced aspiring entrepreneur that refuses to leave the island, and the new residents from different parts of the world; Puerto Rico has experienced substantial growth in the small business industry.
As a recent graduate that has navigated the job market, this is a topic that represents an opportunity for discussion. Completing a degree is a big achievement, one that you should be very proud of. Although, when the graduation date is drawing close there are two words that can vanish the excitement and those are, job hunting.