Word: fomento
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Dates: during 1950-1959
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...capture of several more small towns. The government gave credence to their claims by shaking up the army command, ordering in more reinforcements and warning the civilian population that it intends to bomb out any rebel attempt to hold the central province. Reports of heavy fighting came out of Fomento. near the Sierra del Escambray. The rebels held Sancti Spiritus (pop. 60,000) for a night, drove the army from Caibarién. a north coast sugar port, and closed in on the Las Villas capital of Santa Clara...
...island came Paper-Mate, General Electric, Maidenform, B.V.D., Consolidated Cigar, Weston, Union Carbide, Parke, Davis & Co., Remington Rand, Bostitch and others (see map). Last week the 667th factory-a cutlery plant in Gurabo -went into production. For the catalytic $40 million in loans, plant construction and promotion, Fomento got the island $275 million in investment, 80,000 new jobs. Like the moving needles on the instrument board of a climbing plane, all the economic indicators rose...
Public revenues from indirect taxes, noncorporate income taxes and other tolls on the speeded economy jumped from $27.5 million to $198 million; each of Fomento's investments stirred a burst of economic activity that ultimately returned to the treasury four times as many dollars as were laid out. Wages rose, now average $1,500 a year...
Equally flexibly, Fomento, unable in 1946 to find a capitalist to build a hotel, put up the pattern-setting Caribe Hilton with its own $5,000,000, brought U.S. Hotelman Conrad Hilton in to run it. Hilton made $1,000,000 the first year, was encouraged to go ahead with what is now his worldwide chain...
...Fomento executives freely admit that migration to the U.S. has given Bootstrap a more successful look than it would otherwise have, and they willingly aid migrants to go. But compared to the recent migration of 2,274,000 persons from the U.S. South to the North and West...