Industrias Alimenticias San Juan, that’s the name chosen for the company that will make products like ravioli, frozen goods, pasta sauces and baked goods. The initial investment will be around $400,000. However, since the investment only covers machinery, the initial costs will likely increase.
Italian Food Factory in Luquillo
The company, created by Venezuelan capital and investors opened their Factory on January 19 in Luquillo, a town in northern Puerto Rico. The Italian food factory will produce pastas, sauces and baked goods, among other Italian products. According to their investors, the factory is expected to create 200 jobs in the area.
This venture, made with Venezuelan capital and Puerto Rican management, could be at its máximum productive capacity within the next 90 days. However, they need to train the personnel and establish a workflow in order to attain their 100 percent production goal. The company will use local resources to manufacture the goods, a move that will surely boost the economy and help the community. These goods will not be for Puerto Rico’s consumption only, as they intent to export them to other countries.
The chosen building for the factory is an old abandoned warehouse propriety of the Puerto Rico Economic Development Agency in Luquillo. Some local residents stated that they couldn’t even remember the last time that factory was used. The investors renewed and refurbished the plant in order to house the factory and start producing right away.
During the factory’s inauguration, the governor, Alejandro García Padilla, said that the company came to Puerto Rico after a careful search. They also stated that they chose the island because it offered them stability and government cooperation. It looks like investors are trusting the island again, which is good to bring more job opportunities and ventures to the country.
The Governor also said that this kind of investment is what the country needs to grow and expand even further. Puerto Rico’s economy has suffered since the recession and new stimulation initiatives, like Act 20 and Act 22 tax benefits are bringing investors back to the island.
The company’s CEO stated that they wanted to expand their production and wanted a place where they could feel safe and benefit from good infrastructure while making their products. He also said that after visiting many countries in Latin America, they were never received as well as they were received on the island. It was the people’s warmth and openness what made them make the final decision to open the factory in Puerto Rico.