Word: islanded
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...Marin, once a Socialist, knows now that government-spending alone will not solve Puerto Rico's problem. If the island is to build a sound economy, and to live without the crutch of federal handouts, it needs private industry and old-fashioned capitalist help. Says Muñoz: "I am out to increase production by any possible means-private, public, or mixed, as the case may be." To describe his government's part in industrial development, he coined his own neatly tailored phrase: "venture government." As Muñoz sees the problem: "Somebody's got to take...
...chief government agency in the drive for production is the Puerto Rico Industrial Development Corp., set up in 1942 under the wartime governorship of Rexford Guy Tugwell. PRIDC, which has spent about $27 million to establish new industries (the new island budget allots $1,700,000 for the corporation), started the ball rolling by setting up five factories to make cement, glass, paper board, shoe-leather products, clay products. Later, it began a hard driving campaign to sell private companies on Puerto Rico as a place for business...
...industries Puerto Rico now offers tax exemption for twelve years. Even dividends are tax-free if collected in the island, for Puerto Ricans pay no federal income tax. Other PRIDC selling points are the island's abundant labor supply and the fact that wages tend to be lower than the 30?-an-hour minimum in the U.S. To supply skilled workers, the government has built an industrial school equipped to train 3,500 workers at a time in 55 different trades...
...government and PRIDC are also trying to expand existing Puerto Rican industries. To help the rum industry recapture part of its $14 million wartime U.S. market (when U.S. drinkers had to buy rum to get a bottle of Scotch), the island government will spend $750,000 this year on advertising and promotion. Then there is the tourist business, which the government hopes will bring the island an annual income of $16 million by 1952. With tourists in mind, PRIDC is putting $5,000,000 into San Juan's new Caribe Hilton Hotel (300 rooms...
Until last year, Puerto Rico's Governors were appointed by the U.S. President, subject to Senate confirmation. Judges of the island's Supreme Court are still presidential appointees, but Puerto Ricans feel that they took a long step ahead in the democratic process when a new U.S. law allowed them to elect their own governor...