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Business plans sought for Puerto Rico train station locales

By on November 7, 2018

SAN JUAN – Financing, financial mentoring, special memberships, and free telephony and internet service are some of the benefits the winners of a contest, titled “Renacer del Tren Urbano,” or “Revival of the Urban Train,” will receive.

Carried out by the Economic Development Bank for Puerto Rico (EDB), in conjunction with the Highways and Transportation Authority (HTA) and the Department of Transportation and Public Works (DTOP), the competition was announced Wednesday by EDB President Luis Burdiel Agudo and Transportation Secretary Carlos Contreras Aponte.

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The EDB and DTOP identified 11 available commercial locales at the Bayamón, Las Lomas, San Francisco, Medical Center, Río Piedras, Roosevelt, Hato Rey and Sagrado Corazón stations.

Burdiel said the contest “seeks to encourage people with an interest in establishing a business and bring about the creation and retention of jobs, reactivating the Puerto Rico economy.”

He went on to explain that the event will be available to residents age 21 and older “who, according to the established conditions and rules, presents a business plan that demonstrates” an “impact and development of a business in the premises that have been identified in the Urban Train stations.”

The Transportation secretary said that “one of the programmatic commitments of the governor is to create healthy and sustainable ecosystems of innovation, fundamental for entrepreneurship projects to respond to market needs and reactivate the country’s economy and the creation of jobs.”

Contreras recalled that every day an average of 36,000 passengers use the train.

Burdiel said the winning prizes include EDB financing of up to $100,000, “with flexible terms and conditions, according to the credit requirements.” Also, the HTA and DTOP will provide the locales for two years, “in exchange for the improvements made to the commercial premises.”

Other winners’ perks include financial mentoring, for one year, by a CPA, the opening of a savings and loan accounts with a $500.00 deposit, and a one-year special membership in the Puerto Rico Chamber of Commerce and the United Retailers Center.

In addition, AT&T will provide three mobile devices and free service for one year that includes: “hotspot or wireless home phone with internet, smartphone and other equipment to select between: tablet, hotspot and wireless home phone.”

Participants who meet the eligibility requirements will be evaluated by a committee of seven people from the private sector and government, who will be “taking into consideration the originality, experience, education, economic impact, image and viability.”

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