Posted by Staff Writer on 9/19/2020 to Market Sectors
IncSmart Puerto Rico (Small Business and Startups) - President Trump plans to bring pharmaceutical manufacturing back to America. The government will invest 13 billion dollars into the economy of Puerto Rico to bring this health sector back to the US from China. This money will not only bring back pharmaceutical and medical equipment manufacturing back, but will help the island rebuild after devastating hurricanes. This economic development will also be a shot in the arm for Puerto Rico's economy. This will bring back well paying technical and professional jobs.
This plan will have the Federal Emergency Management Agency to rebuild the infrastructure so the island can return and produce pharmaceuticals again. The pervious administration voted to remove the tax breaks (IRS Code 936) from the island that had made Puerto Rico the dominant player in the pharmaceutical industry. Security risks for America became critical during the Covid pandemic after allowing pharmaceuticals manufacturing to move to China. As the world needed supplies, China was slow on delivering.
By IncSmart Staff Writers
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