Attracting Foreign Investment: A Discussion with Governor Alejandro Garcia Padilla of Puerto Rico
Washington, DC – On Wednesday, September 16th, the German Marshall Fund of the United States hosted Alejandro Javier García Padilla, Governor of Puerto Rico, for a private roundtable discussion on foreign investment, workforce development, and transatlantic cooperation.
Recently, U.S. Secretary of Commerce Penny Pritzker announced a new partnership with Germany to promote cooperation in career and technical education and training. In October of 2014, Lufthansa Technik and the commonwealth of Puerto Rico announced an agreement to create a new aviation maintenance, repair, and overhaul ("MRO") facility in Puerto Rico. García Padilla’s administration is embarking on a renewed initiative to attract foreign investment as a significant focus on economic stimulation.
“In Puerto Rico, we understand this nexus of business decision-making: that point where investment and commercial decisions meet local incentives and workforce readiness/development and training. We have seen this as the recipe for success.” – Governor Alejandro García Padilla.
The diverse audience discussed future economic challenges and opportunities between Europe, the United States, and Puerto Rico, including the potential benefits to Puerto Rico of the ongoing negotiations of the transatlantic trade and investment partnership (TTIP). The group was also interested in exploring the measure that Puerto Rico is taking to build a sustainable, skilled workforce.