Puerto Rico open to adding casinos to boost economy

Puerto Rico open to adding casinos to boost economy

Puerto Rico open to adding casinos to boost economyPuerto Rico’s Department of Economic Development and Commerce, together with the Roosevelt Roads Local Redevelopment Authority, is in the market for new entertainment options in the Caribbean island, including a planned casino development.

The two government agencies recently released a request for qualifications to developers interested in building establishments in a 3,000-acre plot of land that was once an American naval station. The property also includes prime Caribbean coastline, making it an even more attractive piece of real estate.

“Roosevelt Roads promises extraordinary development opportunities that are made attractive by our tax incentives, a pro-business environment, skilled and competitive workforce, political stability and the benefits of a US jurisdiction,” said Malu Blázquez Arsuaga, executive director of the Local Redevelopment Authority.

All in all, nine zones are being planned for development, each with a defining feature: an industrial park, a waterfront district, sustainable entertainment areas, eco-tourism lodges, residential and corporate offices and entertainment centers that will potentially include casinos. The objective is to turn the area into a world-class tourist destination that can be aided by its close proximity to the world famous El Yunque rainforest, as well as neighboring beaches in Culebra and Vieques. It also helps that the area has easy access by air and sea and comes with competitive tax benefits for its investors.

The project is also intended to be an economic kick-starter that will help create employment opportunities for residents of the US territory, part of a long term plan spearheaded by Puerto Rico Governor Alejandro Garcia Padilla to turn the territory into an economic force.