Invest Puerto Rico (InvestPR), the Island’s financial improvement group, continues to make inroads in its efforts to reshore BioScience actions again to the U.S.
In partnership with multinational promoting company Wunderman Thompson Puerto Rico, InvestPR launched the marketing campaign Accelerate Success with the underlying theme that the Future of BioScience is in Puerto Rico, additional highlighting Puerto Rico’s property and worth proposition for all times science manufacturing and R&D.
The marketing campaign is a part of InvestPR’s total technique to elevate Puerto Rico as a aggressive enterprise and funding vacation spot. InvestPR responded to the pandemic by prioritizing the native BioPharma sector, implementing initiatives to reshore and safe the U.S. trade provide chain. The marketing campaign positions the Island because the nexus of alternative for firms within the trade, which stand to profit from superior know-how, new capabilities, and expanded market entry at larger value effectivity, accounting for Puerto Rico’s 60-year legacy within the sector.
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“Puerto Rico has long served as a medical device and pharmaceutical manufacturing center, and officials believe we can do more to boost the sector further. As such, we are ramping up efforts to aggressively recruit BioPharma companies that can benefit from Puerto Rico’s value proposition, anchored in innovation, infrastructure, human capital, a business-friendly ecosystem, incentives, and more. This campaign seeks to evangelize our messaging among key audiences, including BioScience companies, site selection consultants, investors, policymakers, and others,” mentioned Rodrick Miller, CEO of InvestPR.
Accelerate Success touches on Puerto Rico’s readiness to help BioScience actions. The Island options move-in-ready amenities and complete trade help that permits firms to construct world-class custom-made life science amenities.
Also, ongoing enhancements to Puerto Rico’s present infrastructure will accommodate better manufacturing output. An elevated connectivity rooted in a complicated 5G-enabled Internet of Things (IoT) community that connects gadgets in Puerto Rico with worldwide IoT grids, synthetic intelligence, automation, and extra.
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Furthermore, in collaboration with the Puerto Rico Department of Economic Development and Commerce (DDEC by its Spanish acronym), native trade, and stakeholders, InvestPR continues to raise the Island’s 2020 designation as the primary location within the U.S. to obtain a waiver for a world cargo and passenger switch hub. This distinctive waiver permits Puerto Rico to leverage its logistics experience, set up new worldwide journey and industrial routes, assist firms reduce prices, cut back transport occasions, and guarantee top-quality dealing with of any product.
Miller famous that 2021 received off to a working begin with a number of alternatives throughout the pharmaceutical, logistics, and know-how sectors that make clear Puerto Rico’s worth as an funding vacation spot. InvestPR lately introduced the arrival of CytoImmune Therapeutics and BioSimilar Solutions on the Island, each cell therapeutic firms, additional solidifying the way forward for the trade, strengthening Puerto Rico’s foothold as a number one pharmaceutical manufacturing hub.
Snapshot: BioSciences in Puerto Rico
– A worldwide tech chief with cutting-edge know-how that accounts for the sixth highest focus of engineers and scientists on the planet.
– An unlimited and rising scene supported by island-wide Information & Communications Technology (ICT) and Software Development infrastructure, together with a complicated OG to 5G community that connects gadgets in Puerto Rico with worldwide IoT grids.
– First within the U.S. to be designated as a transshipment hub, increasing the Island’s new expanded cargo switch capabilities. This distinctive waiver improves Puerto Rico’s competitiveness, supporting new worldwide journey and industrial routes that assist firms reduce prices, cut back transport occasions, and guarantee top-quality dealing with of any product, all supported by native experience.
– Boasts 12 of the world’s 20 top-grossing pharmaceutical firms (J&J, Roche, Pfizer, Novartis, and Merck), with eight of the 15 top-selling medication having been manufactured on the Island.
– It has a community of universities which are educating a rising variety of STEM and well being science professionals. Approximately 26,500 bachelor’s levels and 5,000 post-graduate levels in science are awarded yearly. 60 p.c of graduates are STEM majors, 6x better than the best concentrations among the many 50 states.