Vice President Kamala Harris touted the Biden-Harris administration's role in Puerto Rico's economic upswing during her visit to the island, highlighting federal commitments surpassing $140 billion that have sparked a significant surge in jobs, construction and a promising economic outlook, this was reported in a White House press release.
Since the administration took the helm, more than 100,000 new jobs have been created on the island, and areas like construction have seen nearly a 30 percent boost in employment figures, while the unemployment rate has hit a record low of under six percent, these strides in employment and economic revitalization in Puerto Rico following the launch of the Puerto Rico Economic Dialogue in December 2022 saw whole-of-government collaborations across 17 Departments and private stakeholders that stand as testament to this commitment.
The rebuilding efforts in Puerto Rico are underscored by the construction of multiple critical infrastructural projects, including a 294-unit apartment complex in San Juan and renovations on Carolina's Sánchez Osorio and Galicia avenues, the tangible byproducts of investments made by FEMA, HUD and the local government's COR3, which oversees the reconstruction post-Hurricane Maria, translating funds into construction jobs and revitalized communities.
The vice president also shone a light on the progress due to the Bipartisan Infrastructure Law and the Inflation Reduction Act, which she helped pass with her tie-breaking vote, with transportation projects amounting to $754.3 million under the spotlight—the upgrades aiming to expand airports and highways while also increasing sustainability through electric vehicle charging infrastructure, amid her highlighting the Biden-Harris administration has remained watchful sponsors of Puerto Rico's stride towards resilience, emphasizing how key investments in renewable energy, broadband, and workforce development ensure the island's sustainable and long-term growth, the encompassing approach hallmarking the administration’s intensive investment into a broad range of economic facets.
Moving beyond infrastructure, Harris underscored the tangible impacts on families and children in Puerto Rico, with expansions in the Child Tax Credit and Earned Income Tax Credit through the American Rescue Plan leading to significant reductions in poverty, and a permanent increase in the island’s food assistance grant, these moves are crucial steps by the administration to bolster Puerto Rico's social and economic fabric, with federal funds reaching into the creases of everyday life ensuring more equitable growth and development for the island’s population.
