Sunday, September 26, 2021

Puerto Rico Governor Allocates $50 Million for the Creative Economy

By on August 9, 2021

Puerto Rico Governor Pedro R. Pierluisi announced the allocation of $50 million in funds from the federal American Rescue Plan (ARPA) to support cultural institutions and boost the creative economy, or orange economy, as it has been called in recent years. 

About $ 10 million will be used to subsidize the budget of different entities that have sustained substantial losses due to the pandemic. The Government will allocate $40 million to different programs of the Institute of Puerto Rican Culture (ICP), and will use these funds to make improvements on historic buildings, the digitization of historical documents,  and the restoration of objects.

“Our culture and our traditions are an integral part of the economic and tourist offerings of Puerto Rico. The so-called orange economy is based on the creative ecosystem, and our Island is rich in culture, music, art, theater, crafts, history, and museums. To enhance the impact on our economy and our quality of life, it is essential that we manage to invest in those sectors that help us take advantage of everything that Puerto Rico can offer, everything that makes us special,” Pierluisi said. 

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