Vieques and Culebra

Click to edit Master text styles Vieques and Culebra
Task Force
Green Triangle/Triangulo Verde
Roosevelt Roads, Vieques , and Culebra identified as key focal areas for
Economic Development of the Eastern Region
Click to edit Master text styles •  Leverages and
enhances the unique
assets, amenities and
attractions of all three
•  Premiere ”Eco-Tourism”
Potential at the
Foothills of El Yunque
National Forest
•  Prime Launch point or
“portal” to the
adjacent Islands and
the Caribbean
•  Catalyst to the
Neighboring Resorts
and Tourist Attractions
Vieques and Culebra
Implementation of Act No.153 of August 10th 2002
Vieques and Culebra
Objective:
Manufacturing
Click to edit Master tInitiatives
ext styles DDEC spearheads initiatives for the development of Vieques and Culebra
Act 153
08/2002
•  Act 153 calls for DDEC to establish an economic development plan with
regulations that rule over the land use plan, as well as other commercial
establishments, special community programs, healthcare reform, educational
reform, and everything related to infrastructure, tourism and others
Development
Strategy:
 Designate an Executive Director to focus on Vieques and Culebra initiatives,
someone who thoroughly understands the intricacies of such islands
 Develop mechanism to stimulate entrepreneurship and creation of small
businesses by providing access to capital
 Increase air access to Vieques and Culebra - PRTC Coop marketing program $1 per seat
•  Revise Land Use Plan with the support of Vieques and Culebra municipalities
•  Create a detailed tourism development plan which includes territorial plans of
where to place hotels and attractions
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Vieques and Culebra
Economic Development Projects – Develop mechanism to stimulate
entrepreneurship and creation of small businesses by providing access to
capital
Topic
Vieques Training
Click to eDescription
dit Master text styles Project
Description:
•  Develop a public/private structure to provide the
community with access to capital for sustainable businesses
­  Loans up to $25,000
­  Economic Development Bank is the lender
­  Structured training sessions are a prerequisite for EDB
to process the loan application
Objectives:
•  Stimulate the creation or expansion of Tourism related
business
•  Provide adequate training during all steps of the businesses
development cycle
•  The Government of Puerto Rico has allocated $2 million
through the EDB to
Progress
and Results:
Culebra Training
•  $100,000 have been approved for training sessions on how to
create a business plan and how to build your own business,
as well as how to manage it when it is operational
•  Over 100 Viequenses and Culebrenses have passed through
the training session and have created their business plans
during our first two training sessions
−  Participants left the session with printed business plans
and loan applications filed with the EDB
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Vieques and Culebra Micro-loans Program
Terms
Click to edit Master text sLoan
tyles Amount
Up to $25,000
Rate
Variable interest rate of 2% over prime
Term
3 – 5 years with up to 3 months interest only
Type of Business Impacted
Participants
Wellness
3
Transportation
11
Hotel / Guest House
8
Beach Entertainment
10
Tours
9
Restaurants
22
Stores
11
Services
9
Agriculture
5
Puerto Rico Crafts - "Artesania"
2
Others - Gas Station & VAL
8
Total
98
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Vieques and Culebra Microloans Program
Access to training and financing where the public left the sessions with a
complete business plan and loan applications filed with the Bank
Dec. 2010
Click t
o edit Master text Onstyles the spot creation of
Training in Culebra
business plans
Vieques Business – program
participant
Homeless Dog Café – Culebra
catering service
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Vieques and Culebra Microloans Program
Access to training and financing where the public left the sessions with a
complete business plan and loan applications filed with the Bank
Mar. 2011
Click t
o edit Master text Onstyles the spot creation of
Culebra Training
business plans
Culebra Training
Vieques Training
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Vieques and Culebra
Collaboration
Opportunities
Next
Steps
Click to edit Master and
text styles •  Support the Vieques and Culebra Executive Director on efforts to develop both islands
•  Assist in promoting DDEC’s access to capital initiative
•  EPA and White House support in requesting FAA’s approval to accommodate the category B-III aircraft
service (airplanes with 30+ seats) in the Antonio Rivera Rodriguez (VQS) Airport
•  Cooperation and support from local municipalities with the revision of the Land Use Plan
–  DDEC is financing the revision of the study for the municipalities
•  Collaboration in keeping Vieques and Culebra up to speed with its tourism offering
–  Enhancement of Bio Bay access
–  Renovation (“face lift”) of Esperanza Pier to accommodate Seadreams requests
–  Cleanliness of beaches and public areas
–  Recycling opportunities
•  Collaboration with EPA/PREQB/NAVY to accelerate Superfund site cleanup
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Click to edit Master text styles Vieques and Culebra
Task Force