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Victor Almodovar 11 /11 / 01
Eco. 100 Dr. Nzeako

Economy of Puerto Rico

Puerto Rico has one of the most dynamic economies in the Caribbean region. Plantation sugar production dominated Puerto Rico’s economy until the 1940’s. Industry has surpassed agriculture as the primary sector of economic activity and income. Encouraged by duty free access to the U.S. and by tax incentives, U.S. firms have invested heavily in Puerto Rico since the 1950’s. As a result, Puerto Rico’s export and import has prospered nearly doubling between fiscal years 1987 and 1997.

Recently the economy has suffered budget cuts from U.S. The Puerto Rican economy has depended heavily on the tax incentives given to U.S. mainland companies and on federal transfers. In 1993, President Clinton aimed to cut the Section 936 tax exemption for U.S. companies and introduced legislation to Congress to replace it with a more modest tax credit linked to wages paid by those companies in Puerto......

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Approximate Word Count: 549
Approximate Pages: 3 (250 words per double-spaced page)

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