AGP Executive Report

Insurance & Business Events: The Certified Public Accountants Association (CCPA) is set to hold its XXVII Annual Insurance Industry Forum this Thursday at the Caribe Hilton, bringing together insurers, regulators, and industry leaders to discuss Puerto Rico’s outlook across health, life, property, and casualty. Budget Watch: Gov. Jenniffer González Colón’s proposed FY 2027 consolidated budget totals $33.57 billion, with $13.18 billion from the General Fund, and the biggest allocations aimed at public safety, health, and education. Registry Access Fight: Sembrando Sentido is pushing back on new Puerto Rico Department of State requirements for the Corporations Registry, saying added account and authentication steps could block public access for people with limited digital access. Ports Court Skirmish: S2 Services Puerto Rico asked a federal judge to disregard documents MIDA submitted in an amicus brief in the Ports Authority dock dispute. Community & Travel: McDonald’s Puerto Rico donated sports equipment to youth soccer clubs in San Juan, while Spirit’s shutdown continues to reshape routes from Fort Lauderdale as airlines adjust service to San Juan, Aguadilla, and Ponce.

Air Travel Shake-Up: Spirit’s shutdown hit Puerto Rico hardest via Fort Lauderdale, but JetBlue is moving fast—adding/expanding San Juan and Aguadilla service and launching a new daily nonstop Fort Lauderdale–Ponce route on July 9, while travelers still have limited nonstop options. Community & Business: McDonald’s Puerto Rico donated sports gear to youth soccer clubs in San Juan’s Don Bosco and Jardines de Sellés communities, aiming to support about 200 local players. Ports Legal Fight: S2 Services Puerto Rico asked a federal judge to disregard documents MIDA attached to its amicus brief in the Ports Authority dispute over San Juan dock operations and cargo scanning. Housing Debate: Rep. Alexandria Ocasio-Cortez renewed criticism of Airbnb, saying short-term rentals are fueling evictions “from Puerto Rico to Jackson Hole.” Public Health Watch: A measles outbreak that surged from Texas into Mexico has killed dozens since 2025, underscoring how quickly vaccine gaps can spread risk.

Puerto Rico Ports Court Fight: S2 Services Puerto Rico asked a federal judge to disregard documents MIDA attached to its amicus brief in the Ports Authority lawsuit over San Juan dock operations, arguing the filing adds new facts and legal theories that weren’t part of the original case. Housing Pressure via Short-Term Rentals: Rep. Alexandria Ocasio-Cortez renewed her attack on Airbnb, saying the platform is “supercharging” evictions from Puerto Rico to places like Jackson Hole, worsening homeownership prospects for younger renters. PREPA Bankruptcy Fallout: PREPA bondholders pushed back in the First Circuit, seeking to overturn a March ruling that rejected their at-least $3.7B administrative expense claim tied to the 2017 bankruptcy. Local Business Expansion: PIRTEK USA hit 200+ U.S. locations and says it now operates in 35 states plus Puerto Rico, adding new territories and openings in Q1. Health & Safety: A new stroke-care agreement links Health First and Parrish Healthcare to standardize treatment across certified stroke centers.

Puerto Rico Ports Fight: S2 Services Puerto Rico asked a federal judge to disregard documents attached to MIDA’s amicus brief in the Ports Authority lawsuit over San Juan dock operations, arguing the filing adds new facts and legal theories that weren’t part of the original case. Housing Pressure: Rep. Alexandria Ocasio-Cortez renewed her attack on Airbnb, saying short-term rentals are “supercharging evictions” from Puerto Rico to Jackson Hole and pushing young people toward permanent renting. PREPA Legal Battle: PREPA bondholders urged the First Circuit to overturn a March ruling rejecting their $3.7B administrative expense claim, arguing they have a protected property interest in PREPA net revenues. USVI Cargo Disruption: The US Virgin Islands Port Authority said a San Juan docking restriction involving Water Spirit Freight Services could disrupt cargo relied on by VI residents, but noted Puerto Rico harbor rules fall outside its jurisdiction. Energy & Trade Context: A separate debate over Jones Act waivers continues to raise questions about whether “maritime dominance” is being undermined by exceptions.

Puerto Rico Economy Watch: New car sales in Puerto Rico are down sharply—about a 22% drop in the first four months—pointing to high interest rates, tighter auto credit, and higher costs hitting household budgets. Energy & Ports: In the US Virgin Islands, a San Juan docking restriction tied to Water Spirit Freight is raising cargo disruption concerns, while the VI Port Authority says Puerto Rico harbor rules sit outside its control. Power & Courts: PREPA bondholders are pushing an administrative expense claim of at least $3.7B through the First Circuit after a judge rejected it, arguing net revenues should be protected. Animal Welfare & Sports: Animal groups are escalating pressure over alleged illegal cockfighting links involving Puerto Rico-connected athletes, including Dodgers closer Edwin Díaz and jockeys Jose and Irad Ortiz Jr. Business Expansion: PIRTEK USA says it has surpassed 200 US locations and now operates in 35 states plus Puerto Rico, adding new territories this quarter. Culture & Media: Shakira’s World Cup anthem “Dai Dai” launches with a major education-focused message, while Beyoncé and Taylor Swift’s “audio treasures” enter the National Recording Registry.

Puerto Rico Energy Courts: A federal judge temporarily halted the transfer of lawsuits against LUMA Energy to Puerto Rico court, pausing contract-cancellation cases while LUMA pursues an appeal—La Fortaleza says the government will keep pushing in commonwealth court. Flood Defense Boost: USACE awarded a $1.078B contract to Ferrovial for Río Piedras flood risk work, targeting major channel upgrades and floodwalls expected to cut annual flood damages by about $126M. Local Development: Cataño is investing $5.67M to redevelop Las Nereidas Avenue, aiming to strengthen its waterfront economy and safety. Public Sector Pay: Ranger Corps salary hikes remain on hold pending Financial Oversight Board evaluation after a Senate hearing demanded clearer timelines. Business & Travel: IHG reported Americas growth in Q1, including Atwell Suites’ first Puerto Rico entry, while fine dining operators say they’re absorbing inflation despite steady tourism. Global Watch: Exxon and Suncor urged SCOTUS to reject climate lawsuits, and a new opioid settlement became legally effective.

Fine Dining Resilience: Puerto Rico’s fine dining is holding steady even as inflation squeezes operators—ASORE reports average spend of $111 per person in 2025, but restaurants say they’re absorbing higher costs rather than raising prices. Hotel Growth in the Caribbean: IHG says Q1 2026 development in the Americas jumped, with signings up 30% and an Atwell Suites debut in Puerto Rico. Local Business Expansion: Autocare opened a second Charlie Boy Wash & Lube in Bayamón, investing about $12M and creating roughly 24 jobs, with another planned this summer. Aviation Shake-Up: JetBlue is ending service to Manchester-Boston Regional Airport this summer, with travelers noting routes to Puerto Rico and New York could be affected. Tech & Culture Buzz: A “Puerto Rico Song” on TikTok went viral—and the audio is reportedly AI-generated. Healthcare Access Pressure: A new probe found many OB-GYN offices in Puerto Rico aren’t taking delivery patients, leaving gaps across municipalities. Election Security: ODNI named two officials to coordinate spy-agency work on threats to the 2026 midterms.

Puerto Rico Flood Defense: Ferrovial just won a $1.078bn U.S. Army Corps contract to widen and deepen San Juan’s Río Piedras channel, adding floodwalls, dredging, and utility relocations—aimed at cutting an estimated $126m a year in flood damages. Biotech Investment: Amgen also announced an extra $300m expansion of its Puerto Rico biologics manufacturing in Juncos, targeting more capacity and next-gen production, with hundreds of construction jobs. Healthcare Access Pressure: A new Puerto Rico Health Department check found most OB-GYN offices can’t be reached or aren’t actually delivering maternity care—leaving many pregnant patients traveling hours for delivery services. Local Governance & Oversight: A federal judge sent a Puerto Rico labs reimbursement dispute back to local court, keeping the fight over payments and responsibility alive. Workforce & Economy: Separate coverage highlights ongoing debate over Puerto Rico’s Minimum Wage Evaluation Commission, with private-sector groups calling for its elimination over representation and spending concerns.

Minimum Wage Debate: Puerto Rico economists are pushing back hard against a bill that would repeal the Minimum Wage Evaluation Commission, arguing the real issue is protecting the island’s technical capacity to evaluate wage policy—not just changing the number. Auto Market Pressure: April closed with 7,652 new car sales in Puerto Rico, down 27.8% year over year, as higher costs and weaker demand keep buyers on hold. Banking Legal Ruling: A federal appeals court backed the Fed’s broad power to cut off “master accounts,” rejecting a Puerto Rico bank’s claim to a statutory right to them. Travel Shockwaves: Spirit Airlines’ collapse is expected to hit Caribbean and Latin America tourism and could push fares higher as travelers scramble for alternatives. Local Business & Community: Ponce’s new Pilot travel center opened with a ribbon cutting and a $20,000 donation, while Puerto Rico’s business ecosystem also gets a data boost from fresh U.S. Census business formation stats covering Puerto Rico.

MLB Labor Talks Kick Off: MLB and the players’ union opened the next round of negotiations Tuesday with presentations—no proposals yet—but the clock is already ticking toward a Dec. 1 CBA deadline and the 2027 season. Puerto Rico Business & Finance: AuctionWorks announced a June 19 virtual Article 9 UCC foreclosure sale tied to Puerto Rico real estate interests, with a $100,000 deposit required to bid. Health Policy: Puerto Rico’s clinical labs group is pushing for tighter oversight of Medicare Advantage spending after a federal projection points to a 2027 funding jump, while its reimbursement dispute heads back to local court. Community & Culture: La CASA, a $33M Latino arts hub in Boston’s South End, opens this weekend with Puerto Rican-focused programming. Civil Rights: UnidosUS named Fernando Laguarda as its new general counsel, expanding legal leadership for Latino advocacy.

Puerto Rico Business & Energy: Humacao just landed a major manufacturing win: Onovexa opened with a $36.2M investment and 203 direct jobs, backed by $9.2M in DDEC incentives for machinery and hiring—another example of Puerto Rican families taking over former multinational space. Clean Energy Finance: The Awareness Group launched its No FICO Solar Plus Battery PPA program across Puerto Rico and six other markets, aiming to expand home solar + backup power access without credit-score barriers. Policy Watch: A new push is building in Washington to protect fans’ access to live sports as more games move behind streaming paywalls—Puerto Rico’s broadcasters are part of the call to Congress to revisit the 1961 Sports Broadcasting Act. What’s Next: If you’re tracking regional business momentum, the week’s biggest Puerto Rico-specific items are these energy and manufacturing moves; other headlines in the feed skew national or international.

Puerto Rico Energy & Infrastructure: The Financial Oversight and Management Board approved PREPA battery-storage contract additions, with conditions, aiming to strengthen near-term reliability while pairing new storage with existing renewable assets. Flood Resilience: Ferrovial won a roughly $1.1B U.S. Army Corps flood-risk management contract in Puerto Rico for major Río Puerto Nuevo channel upgrades, including new floodwalls and utility relocations. Regulatory Politics: Business groups are pushing to repeal Puerto Rico’s Minimum Wage Evaluation Commission, arguing it’s biased, under-represented, and effectively run with reduced quorum power. Local Culture & Community: Inquilinos Boricuas en Acción is opening La CASA in Boston—positioned as New England’s largest Latino cultural center—after years of community-building through arts and self-determination. U.S. Policy Spillover: A new FOIA lawsuit targets the EPA over pesticide-coated seed disposal, escalating pressure on rules tied to neonicotinoids. Travel & Tourism: Air Transat announced a new Montreal-to-Aruba nonstop route for winter 2026, boosting Caribbean access for Canadian travelers.

Puerto Rico Power Fight: A key court move could reshape PREPA’s finances: a lawsuit to remove LUMA from transmission and distribution was sent back to Puerto Rico’s local court, after a federal judge ordered the remand—an outcome the governor says strengthens local control and could affect how the PREPA restructuring plays out. Energy Costs Pressure: In the U.S. Virgin Islands, fuel and shipping costs are rising again as the U.S.-Iran standoff drags on, keeping pressure on an already tight cost-of-living situation. Local Business & Talent: Puerto Rico’s labor market story continues to get attention, with recent coverage pointing to stability and increased employment—while elsewhere, the week’s broader business news highlights how infrastructure and services investments are driving growth. Media Restructuring: Spanish Broadcasting System filed for prepackaged Chapter 11, handing ownership to major creditors in a debt-for-equity swap—another reminder that Hispanic media is in a reset phase.

Puerto Rico Power Fight: A U.S. judge sent lawsuits over LUMA Energy’s PREPA contract back to Puerto Rico courts, and the Oversight Board says privatized grid management is required under Act 120-2018—while LUMA says the agreement remains valid. Public Health Messaging: Puerto Rico’s Health Secretary pushed back on norovirus rumors online, urging residents to rely on official channels as cruise-related outbreaks keep making headlines. Local Business & Growth: IslaIntel says it joined Oracle’s PartnerNetwork to expand secure AI and automation services across the Caribbean and LATAM. Tourism & Culture: Puerto Rican cinema is facing “limbo” as COVID-era funding helped production, but export and distribution support still lag. Community & Development: Mayors from Puerto Rico are set to present municipal projects at a NYC roundtable tied to Puerto Rican Week. Broader Watch: California’s AG alleges Amazon pressured retailers to raise prices, while a new FOIA lawsuit targets EPA documents on pesticide-coated seed disposal.

In the last 12 hours, the most Puerto Rico-relevant business development is Amgen’s announcement of an additional $300 million investment in its Puerto Rico biologics manufacturing network, specifically to expand production capacity and strengthen advanced manufacturing capabilities at its Juncos facility. The company frames the move as part of a broader U.S. manufacturing strategy and says it will support workforce development and create “hundreds of construction jobs,” with the goal of ensuring reliable medicine supply.

Also in the last 12 hours, multiple items connect Puerto Rico to broader regional economic and operational shifts. JetBlue’s expansion efforts are highlighted in coverage that includes new/expanded routes involving San Juan (and Puerto Rico service from Fort Lauderdale), while Suncor reports that it has been selling jet fuel and diesel to markets including Puerto Rico at “significant premiums,” attributing the opportunity to disruptions in global fuel supply. Separately, a legal/business headline notes that a German shipping company and a marine insurer will pay $17 million to resolve a dispute over alleged damage to a Puerto Rico coral reef from a 2006 oil tanker grounding.

Beyond corporate and trade issues, the last 12 hours include enforcement and community-linked news that touches Puerto Rico indirectly. “Operation Gulf of America” reports 15 arrests in Southwest Florida tied to narcotics trafficking “specifically that coming from Mexico and Puerto Rico,” with seizures including cocaine, fentanyl, oxycodone, firearms, and cash. There is also a Puerto Rico-related legal enforcement item about a Puerto Rico most-wanted fugitive arrested in Springfield after a reported break-in, and a separate local legal dispute involving Puerto Rico reef harm (the $17 million settlement).

Looking slightly further back (12 to 72 hours ago), the Puerto Rico business thread continues with policy and infrastructure concerns. Connecticut members of Congress call for an investigation into the clawback of $715 million in federal funds intended for Puerto Rico’s energy resilience, describing the original purpose as supporting rooftop solar and helping keep critical services powered during disasters. Meanwhile, coverage also points to ongoing Puerto Rico economic context (e.g., references to incentives and energy-grid restoration estimates), though the provided evidence is more fragmented than the Amgen and JetBlue items.

Overall, the most concrete, corroborated “business” momentum in the newest window is Amgen’s manufacturing expansion plus continued logistics/fuel and airline connectivity involving Puerto Rico. Other Puerto Rico-linked items in the last 12 hours—drug enforcement, a reef-damage settlement, and policy scrutiny over energy resilience funding—suggest ongoing risk and governance themes, but they are less directly tied to near-term Puerto Rico corporate investment than Amgen’s announcement.

In the last 12 hours, Puerto Rico-related business coverage was dominated by energy, manufacturing, and policy items. A major federal contracting development highlighted the FESCO CLP JV being awarded a $2 billion USACE MATOC tied to the Energy Resilience and Conservation Investment Program (ERCIP), with task orders that may include work for microgrids, battery storage, and electrical/water infrastructure across U.S. military facilities including the Commonwealth of Puerto Rico. In parallel, Suncor reported that it sold diesel and jet fuel to markets including Puerto Rico at “significant premiums,” attributing the opportunity to global supply pressures tied to Middle East strife. On the local policy side, Puerto Rico’s House Speaker Carlos “Johnny” Méndez Nuñez moved to seek a temporary suspension and eventual repeal of the “crudita” excise tax on gasoline and diesel, while a separate item reported that Puerto Rico stopped collecting billions of dollars in incentives (framed as a change in the incentives regime).

Manufacturing and investment signals also featured prominently. Amgen was reported as committing an additional $300 million to expand biologics manufacturing in Puerto Rico, with the coverage describing a broader push to expand North American capacity. Separately, the Puerto Rico Manufacturers Association (AIPR) recognized Goya Puerto Rico for its industrial contribution and long-running relationship with the association, reinforcing continuity in the island’s manufacturing base.

Beyond Puerto Rico-specific business, the most recent batch included several items that touch Puerto Rico indirectly through broader U.S. and global markets and institutions. For example, Coinbase faced a lawsuit over frozen crypto allegedly tied to a $55 million phishing theft, and the coverage notes the plaintiff is Puerto Rico-based. There was also a business/finance angle on municipal high-yield bonds that explicitly references “Puerto Rico paper” as part of the underlying credit universe for the HIMU ETF.

Looking slightly further back (12 to 72 hours ago), the coverage provides continuity on Puerto Rico’s economic and industrial context: a report said the Puerto Rico economy grew 0.4% in 2025 (Planning Board), and another item described SBA reporting significant growth in manufacturing access to capital. Together with the newer Amgen and USACE/energy-resilience items, the overall picture is of Puerto Rico being positioned as a site for energy resilience work and biomanufacturing expansion, while local debate continues over tax burden and incentive policy—with the newest evidence emphasizing immediate fiscal and contracting developments rather than a single, unified “major event.”