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Witness tells legislature Act 22 helped attract serial entrepreneurs; cites Freewind Energy factory in Aguas Buenas
Summary
David, a representative of an Act 20/22 society, testified that Puerto Rico—s tax-incentive laws have brought serial entrepreneurs who create jobs and local ownership; he cited examples including Freewind Energy, a planned factory in Aguas Buenas, and cybersecurity firm Rubidex and urged measured amendments to curb abuse while preserving benefits.
David, identifying himself as a representative of an Act 20/22 society, told an unnamed legislative hearing that Puerto Rico—s tax-incentive programs have drawn serial entrepreneurs who subsequently created businesses, jobs and local ownership.
"The more serial entrepreneurs that we can attract into the community ... the more economic activity they will create," David said, arguing that smaller entrepreneurs are likelier than single large investors to share ownership and opportunity locally.
He offered concrete examples. He described an internet-marketing business brought from California that grew to 122 employees; of…
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