Puerto Rico Conference History

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2 INDEX Puerto Rico Conference History Puerto Rico Conference 2010: When and Where Strategic Alliance with Babson College Why: Entrepreneurship for Growth Main Topics Members of the PR Conference 2010 CommiJee Puerto Rico s Value ProposiMon 2

3 Puerto Rico Conference History The 2006 PR Conference Investment for Development was an outstanding success for the Puerto Chamber of Commerce and its first- ever investment conference showcasing the advantages that Puerto Rico has to offer to investors. 3

4 Puerto Rico Conference History Puerto Rico Conference

5 Puerto Rico Conference History Puerto Rico Conference

6 Puerto Rico Conference History The PR Conference 2008 Investment for Growth was the most significant economic event the Puerto Chamber of Commerce celebrated in the Island. Hundreds of domesmc and foreign investors parmcipated in the event. 6

7 Puerto Rico Conference History Puerto Rico Conference

8 Puerto Rico Conference History Puerto Rico Conference

9 Puerto Rico Conference History Puerto Rico Conference

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11 When and Where Cocktail and VIP Dinner: Tuesday evening, March 23, 2010 PR Conference 2010: Entrepreneurship for Growth Wednesday, March 24, :30 AM 5:00 PM At the Conrad San Juan Condado Plaza Hotel 11

12 Strategic Alliance with Babson College We have signed an MOU with Babson College to form a Strategic Alliance to promote and nurture entrepreneurship in Puerto Rico. Dr. Daniel Isenberg, professor of management pracmce at the Arthur M. Blank Center for Entrepreneurship at Babson College is the Vice- Chairman of the Puerto Rico Conference 2010 and Babson s President Leonard A. Schlesinger will be one of our keynote speakers. A press conference at Babson College in Boston was held on December 8, 2009 to announce this alliance. 12

13 Press Conference in Babson College Jorge Galliano PRCC Chairman of the Board Francisco Rodriguez, PR Conference Chairman, Jorge Galliano, PRCC Chairman of the Board and Luis GauMer, Corporate RelaMons, El Nuevo Día 13

14 Press Conference in Babson College Leonard A. Schlesinger Babson College President Jorge Galliano, PRCC Chairman of the Board, Leonard A. Schlesinger, Babson College President and Francisco Rodriguez, PR Conference Chairman 14

15 Strategic Alliance with Babson College Babson College is parmcipamng in the promomon, planning and organizamon of the PR Conference MarkeMng efforts to promote the PR Conference 2010: Press Conference in their campus was held on December 8, 2009 E- mail communicamons to Alumni, Faculty and contacts to ajract parmcipants to our conference PRCC has been allowed the use of its name for promomonal purposes 15

16 Why: Entrepreneurship for Growth 16

17 PromoMng Entrepreneurship Entrepreneurship is more than just an academic discipline at Babson - it's a way of life. ConnecMng theory with pracmce - they infuse entrepreneurship educamon throughout their curricula and cocurricular acmvimes. The skills learned through their entrepreneurship programs are vital to the success of any business large or small, public or private, corporate or nonprofit, local or global. 17

18 PromoMng Entrepreneurship There are two centers at Babson dedicated to conmnually advancing insmtumon's work in entrepreneurship: The Arthur M. Blank Center for Entrepreneurship at Babson, the first entrepreneurship center established at an academic insmtumon, provides resources for students and alumni, and shares applied research with the world. The Lewis InsMtute extends their leadership in social entrepreneurship, examining and solving global problems through entrepreneurship. 18

19 PromoMng Entrepreneurship A recent study conducted by the Center for the New Economy in San Juan in conjuncmon with the Brookings InsMtute in Washington indicated that the private sector in Puerto Rico is small to the size of its economy. The purpose of the Puerto Rico Conference 2010 is to ajract new investors to Puerto Rico where we have the human talent, the business environment and the track record to build success. We also see this event as an opportunity for local entrepreneurs to learn and interface with their counterparts from abroad at the same Mme that we present the advantages of doing business in Puerto Rico. 19

20 Conference Program 20

21 Conference Program The event conferences and panels will highlight Puerto Rico s compemmve advantages, investment climate and new opportunimes of invesmng in Puerto Rico. In addimon, some of the panels will be on how to access capital and others will provide investors with insight into Puerto Rico s global compemmveness. CEOs from different sectors will be sharing their experiences, and experts from the public and private sectors will be discussing the many investment opportunimes available in Puerto Rico. 21

22 Conference Program Highlights of the conference include a presentamon of a number of government- owned propermes available to potenmal development projects. Key note speakers include Leonard A. Schlesinger, Babson College s President and ex- Vice Chairman and COO of Limited Brands (operator of Victoria s Secrets and Bath and Body Work Stores); Carlos Ubiñas, Chief ExcecuMve Officer of UBS InternaMonal & Puerto Rico and Hon. Luis G. Fortuño, Governor of Puerto Rico. Schlesinger will speak about Entrepreneurial Thought, and AcMon and Economic development, Ubiñas will speak about The Puerto Rico Investment Climate and we have invited the Governor to deliver the luncheon address. 22

23 Main Topics Puerto Rico Fiscal ReconstrucMon Progress Report Strategic Model for a New Economy The Puerto Rico Investment Climate Entrepreneurial Thought, and AcMon and Economic Development The Benefits of Local Investment Taking Advantage of the Public Private Partnerships Puerto Rico s Economy: Outlook Washington Update: General PoliMcal and Public Policy What is Ahead for ? 23

24 Main Topics Puerto Rico s Global CompeMMveness: Now and into the Future : Law 73 Reform Real Estate Development Law and RegulaMon Improvements Energy Reform Labor Reform Investment Climate Service Sector: Puerto Rico as an Economy ExporMng Knowledge 24

25 Main Topics Access to Capital: Venture Capital, Private Equity, Financing and Mutual Fund Industry Puerto Rico Leading Entrepreneurs: Local Success Stories Puerto Rico Credit Review 25

26 Members of the PR Conference 2010 CommiJee Chairman, Francisco Rodriguez- Castro Managing Director InsMtuMonal & Wealth Management Business Development UBS InternaMonal & Puerto Rico Vice Chairman, Dr. Daniel J. Isenberg Professor of Management PracMce Academic Division Entrepreneurship The Arthur M. Blanck Center for Entrepreneurship Babson College 26

27 Members of the PR Conference 2010 CommiJee Product Manager, Sandra González Director of MarkeMng & Sales Puerto Rico Chamber of Commerce Finance Director, Francisco S. Cabrera Director of AccounMng & Finance Puerto Rico Chamber of Commerce 27

28 Members of the PR Conference 2010 CommiJee Luis E. GauMer Lloveras, El Nuevo Día Bartolomé Gamundi Edgardo Fábregas, Fábregas & Cintrón Group, Corp. Juan Acosta, CPA, Acosta & Ramírez, CSP Agnes Suarez, Carrión, LafiJe & Casellas Lymaris Otero, 4Strategic, Inc. Cesar A. González, Esq., Fiddler González & Rodriguez, PSC Jorge Cañellas, Esq., Ernst & Young Raúl Bustamante, Conrad San Juan Condado Plaza 28

29 Puerto Rico s Value ProposiMon 29

30 Strong FoundaMon for Economic Growth Solid base for building the future economy Puerto Rico already possesses many enmcing characterismcs for ajracmng new investment: Benefits Under U.S. JurisdicMon/ Laws Advantageous Tax and Cost Structure Favorable LocaMon and Demographics Life Science Industry Leader World Class AmeniMes 30

31 Favorable LocaMon - Geography Strategic loca6on bridge between North America, Europe and La6n America 31

32 Favorable LocaMon - Geography Intrinsic appeal AJracMve environment to re- locate and visit: Ideal climate: average temperature 83 F in winter, 85 F in summer Diverse terrain: coastline, central mountains, only rain forest under U.S. NaMonal Forest Service Beaches ranked among best in the world Ample natural resources 32

33 Favorable LocaMon - Geography Intrinsic appeal 100% digital switching telecommunicamons network Fiber opmc cable throughout island One of the most efficient financial infrastructures in the hemisphere branches; 1,334 automamc teller machines; and 44,308 points of sale Port of San Juan One of the busiest container ports in the western hemisphere 40 shipping lines providing service to 80 domesmc and foreign ports Urban train system Robust airports that serve as the gateway to the Caribbean and have more than 4,300 local and internamonal flights per month island- wide Comprehensive highway system that ensures no point is more than 2 hours from seaport or airport Natural gas pipeline nearly complete will reduce energy costs in near term 33

34 Benefits Under U.S. JurisdicMon/Laws Best legal protec6on for business U.S. ConsMtuMonal and Legal ProtecMon U.S. Currency and Banking System U.S. Intellectual Property ProtecMon U.S. Federal Court Presence Located within U.S. Customs Borders ParMcipaMon in U.S. Trade Agreements Access to U.S. Federal Funds and Grants for Infrastructure, Social Programs, EducaMon, Research, and more 34

35 Advantageous Tax and Cost Structure A unique value proposi6on for mul6na6onal companies Foreign Tax Structure No federal income tax Controlled Foreign CorporaMon (CFC) treatment Flexibility to develop local tax incenmve laws Cost compemmveness relamve the U.S. Average cost of business in PR is 10.9% lower than namonal average San Juan is the least expensive large U.S. city to do business 35

36 Skilled Workforce Highly- educated workforce and outstanding university system Two of the twenty largest undergraduate engineering programs in the United States: The University of Puerto Rico, Mayaguez Campus Polytechnic University of Puerto Rico Over 23,000 higher educamon degrees per year Over 9,000 graduates per year in science, engineering, and technical degrees Three medical schools with U.S. accreditamon all conducmng NIH and NSF funded research Broad local expermse in manufacturing, science and research, finance and law, and engineering and construcmon Bilingual populamon 36

37 SophisMcated Industries 37

38 Manufacturing Manufacturing the products of tomorrow Center for complex, high- tech goods manufacturing that requires specialized skill sets Leveraging and integramng science, technology, and R&D focus with the manufacturing sector Excellence in target industries: Chemical and biological drug development Biotech and medical devices Aerospace and communicamons components Renewable energy technologies 38

39 Life Science Industry Leader More than 50% of the Fortune 100 companies have opera6ons on the island Thirteen of the top 20 blockbuster prescripmon drugs Six of the top 10 biologics Half of all pacemakers and defibrillators sold in the US ConMnuing pharmaceumcal investment: $4 billion in last 5 years 39

40 Our Life Science CapabiliMes and Industrial Ecosystem More than 38,000 direct jobs in the Life Sciences Industry, accounmng for 8% of total U.S. employment in this sector. Over 100,000 indirect jobs serving the Life Sciences community in such areas as construcmon, project management, validamons and commissioning, packaging, raw materials, financial and legal services, and others. 40

41 Our Life Science CapabiliMes and Industrial Ecosystem Workforce with significant expermse in GMP s, process development, automamon, quality control/assurance, FDA and EMEA regulatory compliance, packaging, warehousing, and others. One of only four U.S. jurisdicmons considered specialized in three bioscience sub sectors (Drugs and PharmaceuMcals, Medical Devices and Equipments, and Research). 41

42 World Class AmeniMes 42

43 Tourism Puerto Rico as the des6na6on of choice in the Caribbean Improving service and quality DiversificaMon Offerings that cater to the needs of all travelers: economy, mid- market, and luxury/five star category propermes Complementary product offerings: Mmeshares, vacamon clubs, condo hotels, rental management, and branded residenmal Regional offerings beyond the San Juan Metropolitan area Expansion of target markets Increase in domesmc and internamonal air travel routes Increase home port and port of call cruises, and pre and post visits Niche markets, e.g. medical tourism, sports and aquamc tourism, and eco tourism and gaming 43