DEPARTMENT OF ECONOMIC DEVELOPMENT AND COMMERCE.

LEGAL AUTHORITY

Reorganization Plan 4 of June 22, 1994, as amended, created the Department of Economic Development and Commerce to implement and supervise the execution of Puerto Rico's public policy on economic development in various entrepreneurial sectors of industry, commerce, tourism, services and cooperativism. Act 73-2008, the Puerto Rico Economic Development Incentives Act assigned the Department of Economic Development and Commerce new responsibilities.

MISSION

To formulate, implement and supervise public policy that relates to the economic development of Puerto Rico in the various entrepreneurial sectors. Similarly, encourage the development of a stable and self-sustaining private economy that takes into consideration the globalization of the economy and the constitution of regional economic alliances.


ORGANIZATIONAL STRUCTURE

  • Administration
  • External Commercial Relations
  • Office of the Secretary
  • Projects

PROGRAMS

General Management and Administration

Program Description

Plans, promotes and encourages economic development initiatives that will diversify our economy and make it more competitive. Groups executive structures to allow better coordination and facilitates the formulation and implementation of sector strategies that promote economic development.

Customers

Agencies ascribed to the Department:

  • Authority for the Redevelopment of the Facilities and Lands of Roosevelt's Roads
  • Convention Center District Authority
  • Energy Affairs Administration
  • Film Industry Development Corporation
  • Horse Racing Industry and Sports Administration
  • Industrial Development Company
  • Land Administration
  • Office of Exemption Industrial Tax
  • Port of the Americas Authority
  • Tourism Company
  • Trade and Export Company

REDEVELOPMENT OF LAND AND FACILITIES OF THE ROOSEVELT ROADS NAVAL STATION

Program Description

The Authority for the Redevelopment of the Facilities and Lands of Roosevelt's Roads was established during Fiscal Year 2011-2012. Per Act 508-2004, the Program is assigned, as needed, human and fiscal resources from the Department.


FISCAL YEAR 2012-2013 PROPOSED BUDGET

The proposed budget for Fiscal Year 2012-2013 amounts to $5,107,000 in Revenues from Internal Sources.

Operational Expenses reflect an increase of $65,000 when compared to funds assigned in fiscal year 2011-2012. This amount increases the funding for commercial missions whose focus is to make Puerto Rico a competitive investment destination and an ideal location for the production of goods and service.

Revenues from Internal Sources are generated from managerial fees charged for services to its agencies and corporations. These funds allow the Department to maintain its fiscal independence and to continue to reduce public spent.

The Authority for the Redevelopment of the Facilities and Lands of Roosevelt's Roads organizational structure was established during Fiscal Year 2011-2012. By Act 508-2004, the agency resources are presented separated from the Department in another section of the Budget Document.

The proposed budget will allow the Department to continue to develop economic strategy and continue to implement tax exempt programs in the areas of: manufacturing, tourism and agriculture. These funds will also be used to continue to offer services through the Commercial Offices in Panama and the Dominican Republic.

SUMMARY OF AVAILABLE RESOURCES

Consolidated Budget  (thousands $) 2010 2011 2012 2013

 

Program  
Operational Expenses Actual Actual Budget Proposed
General Management and Administration 8,217 7,998 5,042 5,107
Redevelopment of land and facilities of the Roosevelt Roads Naval Station 1,353 1,353 0 0
Subtotal, Operational Expenses 9,570 9,351 5,042 5,107
 
Capital Improvements
General Management and Administration 25,000 0 0 0
Subtotal, Capital Improvements 25,000 0 0 0
Total, Program 34,570 9,351 5,042 5,107
 
Funding Sources  
Operational Expenses  
Joint Resolution - General Fund 1,138 315 0 0
Special Appropriations - General Fund 3,500 3,100 0 0
Local Stabilization Fund 479 121 0 0
Federal Grants 453 453 0 0
Other Income 4,000 0 0 0
Revenues from Internal Sources 0 5,362 5,042 5,107
Subtotal, Operational Expenses 9,570 9,351 5,042 5,107
 
Capital Improvements  
Other Income 25,000 0 0 0
Subtotal, Capital Improvements 25,000 0 0 0
Total, Funding Sources 34,570 9,351 5,042 5,107
 
Expense Category  
Operational Expenses  
Payroll and Related Expenses 1,165 1,608 1,681 1,681
Purchased Services 124 203 188 189
Donations, Subsidies, and Distributions 0 30 0 0
Transportation Expenses 10 51 0 70
Professional Services 764 4,350 3,155 3,149
Other Expenses 4 9 18 18
Non Distributed Allocations 7,500 3,100 0 0
Advertising and Media Expenses 3 0 0 0
Subtotal, Operational Expenses 9,570 9,351 5,042 5,107
 
Capital Improvements  
Capital Improvements Program 25,000 0 0 0
Subtotal, Capital Improvements 25,000 0 0 0
Total, Expense Category 34,570 9,351 5,042 5,107