Puerto Rico Seeking Aerospace Investments At Paris Air Show

Puerto Rico is emerging as a highly competitive location for aerospace-related research, innovation, engineering, service and production, and to expand its base further, the Puerto Rico Industrial Development Company (PRIDCO) officials are attending Paris Air show eyeing for more investment opprotunites.

Puerto Rico has nearly $100 million in investments on the island since 2006.

The Defense giants who have invested in Puerto Rico are; UTC Aerospace Systems with over $40 million investment, Pratt & Whitney with $22 million operation employs and $7.3 million investment, Honeywell Aerospace with $5.8 million operation expanding to over 800 employees, and Lockheed Martin with $1.3 million investment.

In addition to benefiting from investment by prominent aerospace corporations, Puerto Rico has increasingly become more attractive to prime U.S. defense contractors. As a U.S. jurisdiction, Puerto Rico complies with all regulations under the International Traffic in Arms Regulation (ITAR), which states that all federal defense and military-related technologies or products may only be produced by U.S. citizens.

Aerospace companies looking to Puerto Rico also have the opportunity to take advantage of the redevelopment of Roosevelt Roads, the island's former Navy base, which offers future investors an 11,000-foot runway and available facilities to expand into airplane maintenance, repair and overhaul (MRO), training and other services.