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Puerto Rico's enticing tax breaks

 
Stxer1
(@Stxer1)
Advanced Member

While we have to deal with our esteemed Governor deJongh pardoning tax evader Senator Chucky, Puerto Rico is luring businesses we used to get in the VIs. And, doing well at it. Read below.

http://mobile.nytimes.com/2014/09/07/realestate/puerto-rico-luring-buyers-with-tax-breaks.html

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Topic starter Posted : September 6, 2014 12:57 pm
Alana33
(@alana33)
Expert

PR has been struggling with their poor economy for years now as per this quote:
"Local officials hope that new investment will help turn around an economy battered by several years of recession."

Personally, I have no desire to see our islands look like PR with huge hotel buildings and complexes directly on our beach fronts nor would I wish to deal with their traffic. If you wish to live somewhere that looks like Miami Beach or Condado, have at it. Incentives or no incentives. Plus, everyone cries foul when we do give tax incentives. Can't win.

Our islands do need a comprehensive zoning plan which our Senators have failed to deliver on for decades now.

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Posted : September 6, 2014 2:22 pm
ms411
(@ms411)
Expert

PR is more than high rise hotels and Condado. Huge island with lots of diversity.

They also do a much better job of selling their culture to tourists which generates jobs. People want to try mofongo, lechon, and other local dishes. Very few visitors to VI know about conch in butter sauce and fungi.

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Posted : September 6, 2014 11:19 pm
Scubadoo
(@Scubadoo)
Trusted Member

And now we have mofongo back home when we can get it.

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Posted : September 7, 2014 2:38 am
Kokonut
(@Kokonut)
Advanced Member

Puerto Rico is a great island and I love the Condado area. St. Croix DOES need more hotel and condo development and the sooner the better.

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Posted : September 8, 2014 12:29 pm
Alana33
(@alana33)
Expert

Why do they need more hotels and condos when they can't fill the existing ones they have? Same with STT & STJ. Hotels, vacation villas, B&B's and other rentals are already have difficulties keeping their places filled. Why build more to sit empty 3/4's of the year?

Before you can sell a place, you need to have your infrastructure in place to handle projected growth and have a clean, safe, fun and affordable product to sell.

The over-development we do have aready threatens our environment and our waters.
Work on fixing the problems and what we already have and don't turn the islands into a replica of Condado and Miami Beach.

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Posted : September 8, 2014 1:07 pm
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