How will the project’s USD 175 million economic pump benefit Puerto Rico’s economy?

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Economic Benefits of the Project for Puerto Rico

The project is expected to inject USD 175 million into Puerto Rico's economy, with a significant portion of labor content sourced locally. This initiative is designed to provide substantial economic advantages to the island's economy, alongside considerable savings for electricity consumers.
Local Economic Injection

The planned project is set to contribute USD 175 million to Puerto Rico's economy. This financial influx is a key component of the settlement agreement with the Puerto Rico Energy Power Authority (PREPA), aiming to stimulate local economic activity.
Puerto Rican Labor Content

A core aspect of the project's economic impact is its commitment to utilizing local resources, with a target of 60% Puerto Rican labor content. This focus is intended to maximize employment opportunities and skill development within the island's workforce during the construction and operational phases.
Broader Economic Advantages

Beyond the direct financial injection and labor component, the project is anticipated to yield broader economic benefits for Puerto Rico. While specific details on the types of local businesses to be contracted or the precise economic multipliers are not elaborated, the agreement emphasizes a positive overall impact on the local economy. This is further complemented by an estimated saving of over USD 1 billion for electricity rate payers over the agreement's lifespan.

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How will the project’s USD 175 million economic pump benefit Puerto Rico’s economy?

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