Experience Drives Results


There's a reason why more than half of the world's leading pharmaceutical companies have operations on the island and 11 of the top 20 prescription medications sold in the US are manufactured in Puerto Rico. It's the same reason why we're one of the top jurisdictions with the highest volume in the biotechnological sector, the top 5 jurisdictions with the highest volume in the pharmaceutical sector and one of the top 10 jurisdictions within highest volume in the medical device sector.

With only one word, we can explain why we are a major manufacturing location in the world and why 13 out of the top 16 medical device companies have presence in Puerto Rico: INCENTIVES

Through Act Number 73 of 2008, known as the “Economic Development Incentives Act”, Puerto Rico provides tax incentives for companies that establish and expand their island operations as well as tax credits for creating jobs and investing in research and development.

Incentive Tax Benefits
  • Up to 50% tax credit on Research and Development activities
  • Up to 50% tax credit for investing in efficient energy use and renewable energy machinery and equipment
  • Up to 50% tax credit on purchases of products manufactured or recycled locally
  • Special deductions on investments from structures, machinery and equipment
  • Marketing incentive programs available to qualified PRIDCO-promoted companies whose sales are greater than $100,000 per year
  • 4% income tax on industrial development income for 15 years
  • Up to $5,000 for each job created during 1st year of operation
  • 0% - 1% tax rate on income for pioneer or novel products manufactured on the island

Puerto Rico is one of the most important biopharmaceutical manufacturing centers in the world, with more than 50 years of experience in pharmaceutical manufacturing and 30-plus years of experience in sterile pharmaceutical manufacturing. Our mission is to retain, expand and diversify the industrial base and attract manufacturing of high-value products based on R&D and cutting-edge technology.  With 79 FDA-approved pharmaceutical plants scattered across the island, Puerto Rico is home to top multinational pharmaceutical companies, including Astra Zeneca, Abbott, Bristol-Meyers Squibb, Merck, Pfizer, Eli Lilly, and numerous others. Many companies operate more than one site on the island.

For more information on how to profit from the Economic Development Incentives Act contact us 787-758-4747 or send us an email to infomanufacturing@prdoesitbetter.com.

To apply for the Industrial Tax Exemption, Industrial Tax Exemption Form.pdfclick here.
 

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