AGP Executive Report

Insurance & Business Events: Puerto Rico’s Certified Public Accountants Association (CCPA) is set to host its XXVII Annual Insurance Industry Forum this Thursday at the Caribe Hilton, bringing together insurers, regulators, and industry leaders to map short- and medium-term outlooks across health, life, property, and casualty. Tax Relief for Storm Prep: Treasury Secretary Ángel Pantoja Rodríguez announced an IVU exemption for hurricane-season preparation items from May 22–25, with specific rules for layaway, storm shutters, rain checks, and deliveries. Registry Access Under Fire: Sembrando Sentido is warning that new Puerto Rico Department of State requirements for the Corporations Registry—personal accounts and authentication even for public searches—could slow access and discourage people with limited digital access. Aviation After Spirit: Spirit’s shutdown hit Puerto Rico’s Fort Lauderdale routes hardest, but JetBlue is expanding service, including a new daily nonstop to Ponce starting July 9. Ports Court Fight: S2 Services Puerto Rico asked a federal judge to disregard documents attached to MIDA’s amicus brief in the Ports Authority lawsuit over dock access and cargo scanning.

Air Travel Shock: Spirit’s collapse is still reshaping Puerto Rico’s mainland links, with JetBlue moving fast—adding more Fort Lauderdale capacity and relaunching a daily nonstop to Ponce starting July 9, while San Juan and Aguadilla routes are still operating via JetBlue and Frontier. Ports & Compliance: In federal court, S2 Services Puerto Rico is pushing to block documents attached to an amicus brief in the Ports Authority dispute over San Juan dock access and cargo-truck scanning—arguing the added material brings in new theories that weren’t part of the original case. Regulatory Watch: The FCC is setting up Auction 114 for new FM construction (132 channels, filing freeze on certain changes), a reminder that broadcast operators should track timelines and comment deadlines. Local Economy Signal: New car sales in Puerto Rico are down sharply in early 2026, with analysts pointing to high interest rates, tighter credit, and higher costs weighing on households. Logistics & Security: A U.S. Coast Guard order has restricted two vessels tied to Water Spirit Freight Services from re-entering San Juan Harbour until they meet safe mooring standards, raising cargo disruption concerns for the broader region.

Puerto Rico Ports Court Fight: S2 Services Puerto Rico asked a federal judge to disregard documents attached to MIDA’s amicus brief in the Ports Authority case over San Juan dock access and cargo scanning—arguing the filing adds new facts and legal theories that weren’t part of the original dispute. Labor & Logistics Pressure: Across the U.S., Teamsters expanded in hospitality with 130 Mandalay Bay front-desk workers voting to unionize, while a major Long Island Rail Road strike loomed after 3,500 workers launched a walkout—both signals that cost and service disruptions are still a live wire for regional economies. Local Business Watch: PIRTEK USA said it surpassed 200 U.S. locations and now operates in 35 states plus Puerto Rico, continuing its push into industrial service markets. Health Tech Spotlight: At Retina World Congress 2026, UPR ophthalmology director Victor M. Villegas discussed using supraorbital vibration to reduce pain during intravitreal injections. Consumer Strain: A report flagged a sharp drop in Puerto Rico new car sales tied to high interest rates and tighter auto credit.

Ports Authority court fight: S2 Services Puerto Rico asked a federal judge to disregard documents attached to MIDA’s amicus brief in the Ports Authority case over San Juan dock access and cargo-truck scanning, arguing the filing adds new facts and legal theories that weren’t part of the original dispute. Maritime disruption watch: The U.S. Coast Guard restricted two Togo-flagged vessels after they obstructed San Juan’s San Antonio Channel, raising concerns for cargo service relied on by the U.S. Virgin Islands. Energy & food security: Fort Buchanan’s Logistics Readiness Center is keeping operational meals prepositioned for U.S. missions across Puerto Rico and the Caribbean. Local business expansion: PIRTEK USA topped 200 U.S. locations and now operates in 35 states plus Puerto Rico, signaling continued industrial-services demand. Policy pressure: A Center for Food Safety FOIA lawsuit targets EPA records on neonicotinoid-coated seed disposal, part of a push to close a long-running regulatory loophole.

Auto Demand Watch: New car sales in Puerto Rico are down 22% in the first four months, with economists pointing to high interest rates, tighter auto credit, household strain, and tariff-driven cost pressure. Port & Logistics: A San Juan docking restriction tied to Water Spirit Freight Services is raising cargo disruption concerns for the U.S. Virgin Islands, with the VI Port Authority saying the decision sits outside its jurisdiction. Energy & Recovery: FEMA approved nearly $40M for Puerto Rico recovery, including COVID-19 reimbursements and disaster-related work. Industrial Expansion: PIRTEK USA says it has surpassed 200 U.S. locations and now operates in 35 states plus Puerto Rico. Policy Noise: A new push for “Farm Bill 2.0” is gaining support from hundreds of ag groups, including Puerto Rico representation, as farmers remain in limbo without a full five-year bill. Culture & Business: Shakira’s World Cup anthem “Dai Dai” launches with a school-focused education message, while local entertainment continues to draw attention from major markets.

FEMA Funding Boost: FEMA approved nearly $40M for Puerto Rico recovery, including $23.8M tied to COVID-19 costs and $15.9M for disaster recovery, with reviews aimed at preventing duplication of benefits. Energy Court Fight: A federal judge temporarily halted the remand of lawsuits against LUMA Energy to Puerto Rico courts while appeals play out, keeping the contract dispute in legal limbo. Flood Defense Contract: The U.S. Army Corps of Engineers awarded a record $1.078B to Ferrovial for major Río Piedras flood protection upgrades—dredging, floodwalls, and utility relocations—targeting big reductions in annual flood damage. Local Development: Cataño is moving ahead with a $5.67M Las Nereidas Avenue redevelopment tied to safety, reforestation, and a push to draw more visitors and spending. Culture & Community: Tú Cuentas Cine Youth Fest won multiple Communicator Awards, highlighting Latino youth storytelling momentum.

Fine Dining Under Pressure: Puerto Rico’s fine-dining operators say inflation is squeezing margins, but many are holding prices to protect loyal customers—tourism is helping, with more higher-spend visitors returning. Construction & Jobs: Ferrovial won a $1.078bn U.S. Army Corps contract to widen and deepen San Juan’s Río Piedras channel, aiming to cut flood damages and create thousands of jobs. Energy & Power: The U.S. DOL rescinded the Biden-era overtime rule, resetting the overtime threshold back toward 2019 levels—an immediate cost-and-payroll ripple for employers. Tech & IP Fight: Watch Skins says it’s preparing a bigger amended complaint in its TAG Heuer/LVMH patent and marketing dispute, after a 30-day court pause for new counsel. Retail Signals: Foot Locker’s Puerto Rico presence is getting a boost from a more “cohesive” footwear presentation, with clearance racks still visible. Aviation After Spirit: With Spirit Airlines gone, budget travelers are scrambling for new loyalty programs and perks. Biotech Update: LIXTE filed its Q1 10-Q, citing progress in its ovarian cancer trial and expanded platform work.

Flood Defense Deal: Spain’s Ferrovial just won a $1.078bn U.S. Army Corps contract to widen and deepen San Juan’s Río Piedras channel, adding drilled-shaft floodwalls, dredging, and utility relocations—aimed at cutting an estimated $126m a year in flood damages and creating thousands of jobs. Biopharma Investment: Amgen announced an extra $300m expansion of its Puerto Rico biologics manufacturing in Juncos, boosting capacity and next-gen tech while supporting workforce development and hundreds of construction jobs. Energy & Cost Pressure: New reporting ties Puerto Rico’s gasoline jump to the Iran conflict’s ripple effects, with local prices rising faster than the mainland—another reminder that island fuel dependence keeps turning geopolitics into household bills. Tourism & Culture: Hotels are leaning into music-driven loyalty, while Residente’s Hollywood debut “Porto Rico” (with Bad Bunny and major stars) spotlights Puerto Rican storytelling on the big screen. Local Governance: Rep. José Aponte Hernández is pushing to keep Navy Frontier Pier operational to ease San Juan Bay vessel congestion.

Auto Market: Puerto Rico’s new-car sales fell hard in April, dropping 27.8% to 7,652 units year over year, with mini-compact and premium mini-compact sedans down 83% and compact sedans down 55%, as buyers feel inflation and weaker activity. Banking Courts: A Puerto Rico bank lost in the Second Circuit over whether it can demand “master accounts” access, tightening the rules on who can get certain Fed services. Energy & Shipping Policy: The Jones Act waiver debate keeps heating up as new voyage-level data shows foreign tankers filling gaps after the March suspension—fuel trade patterns are shifting fast. Environment & Compliance: An environmental group sued the EPA for records tied to pesticide-coated seed disposal at ethanol plants, pushing to close a long-running regulatory loophole. Local Business Finance: Ponce Bank CEO Carlos Naudon joined Prosprous.ai as a senior advisor, signaling more focus on AI-driven financial guidance for underserved communities. Culture & Community: La CASA’s grand opening spotlights Latino arts and Puerto Rican history in Boston’s South End, with programming starting this weekend.

Puerto Rico Manufacturing: Humacao just welcomed Onovexa with a $36.2M investment and 203 direct jobs, turning a former multinational site into locally made disposable towels, wet wipes, and absorbent products. Energy & Grid Oversight: The Financial Oversight and Management Board approved a BESS Standard Offer for Polaris Puerto Rico, while Puerto Rico’s energy resilience continues to draw scrutiny as regulators and courts weigh PREPA-related moves. Environmental Pressure: A ProPublica report says Trump-era regulatory relief has granted two-year reprieves to more than 180 facilities in 38 states and Puerto Rico from newer Clean Air Act rules tied to toxic gases like ethylene oxide—raising fresh alarms about public health risk. Fraud & Scams: Rep. José Aponte Hernández says FBI data shows deepfake fraud is surging, with Puerto Rico among those hit by AI-driven scams. Culture & Community: La CASA, a $33M Latino arts hub in Boston’s Villa Victoria complex, opens this weekend with Puerto Rican artist Antonio Martorell’s inaugural exhibit.

Humacao Manufacturing Push: Onovexa opened in Humacao with a $36.2 million investment and 203 direct jobs, backed by $9.2 million in incentives for equipment and hiring—another Puerto Rican family taking over former multinational space and scaling exports. Clean Energy Access: The Awareness Group launched its No FICO Solar Plus Battery PPA across Puerto Rico and six other markets, aiming to expand home solar + backup power without credit-score barriers. Energy Policy Pressure: A new push is building around the Jones Act waiver—maritime CEOs, unions, and industry leaders want the March 17 waiver to expire May 17, saying it hasn’t lowered gas prices and is hurting U.S. shipyard investment. Local Culture & Tourism: The International Plaza kicks off its biggest season with weekend festivals, while Atabey Restaurant & Lounge opened in Ithaca as a new Caribbean dining anchor. Tech/Defense Watch: The Pentagon confirmed directed energy weapons are in the arsenal, as debate continues over how they’re used and understood.

PREPA & Grid Reliability: The Financial Oversight and Management Board greenlit PREPA’s solar-plus-storage additions and battery storage contract amendments, while the U.S. DOE renewed emergency power orders for Puerto Rico through Aug. 9—both moves aimed at tightening reliability ahead of summer demand and the hurricane season. Local Legal Fight: A case to replace Puerto Rico’s electrical distributor was remanded back to local court, a procedural win for the governor that could reshape how PREPA’s operator transition plays out. Flood Resilience Spending: Ferrovial won nearly $1.1B for Río Puerto Nuevo flood risk management, including long floodwalls and channel upgrades. Energy Governance Pressure: Business groups renewed calls to repeal Puerto Rico’s Minimum Wage Evaluation Commission, arguing it’s biased and not properly representative. Water & Community Tech: A new water treatment system in Las Marías highlights how rural communities are trying to solve filtration and sediment problems after heavy rains.

PREPA/LUMA Court Turn: A key lawsuit over who should run Puerto Rico’s electricity transmission and distribution moved back to local court after a federal judge remanded the case, a win for Gov. Jenniffer González and a hit to the Oversight Board—setting up fresh fights over LUMA’s contract and PREPA’s finances. Energy Cost Pressure: In the U.S. Virgin Islands, fuel and shipping costs are rising as the U.S.-Iran impasse drags on, tightening the squeeze on everyday goods and electricity generation. Local Business & Growth: Puerto Rico’s manufacturing push gets a boost with Amgen expansion, while the island’s small-business agenda stays focused on energy affordability and access to financing. Media & Sports Access: NAB is backing a push to revisit the 1961 Sports Broadcasting Act, warning that more live sports are slipping behind paywalls. Tech/Industry Signals: EU regulators cleared Suzano’s acquisition of Kimberly-Clark IFP, and Spanish-language broadcaster SBS filed for prepackaged Chapter 11 to hand ownership to major creditors.

Puerto Rico Energy Courtroom Clash: A U.S. judge sent lawsuits over LUMA Energy’s PREPA contract back to Puerto Rico court, with the Financial Oversight and Management Board arguing privatized grid management is required and shouldn’t derail maintenance or federal recovery funds. Local Governance & Infrastructure: The remand keeps the fight focused on Act 120-2018 and PREPA’s fiscal plan, while LUMA reviews the ruling. Higher Education Pressure: Puerto Rico’s University of Puerto Rico remains in crisis as budget cuts and campus shutdowns fuel demands for restored funding formulas and leadership changes. Tourism & Business Signals: Puerto Rico’s manufacturing push gets a boost via Amgen expansion, while the island also lands a first-ever NCAA Puerto Rico Bowl at Juan Ramón Loubriel Stadium—ESPN-broadcast sports tourism with a December matchup. Media & Culture: Puerto Rican cinema is described as stuck between a post-COVID production surge and a distribution/export gap that leaves projects in limbo.

In the last 12 hours, Puerto Rico-linked business and policy coverage centered on energy, logistics, and investment signals. Connecticut’s members of Congress called for an investigation into the alleged clawback of $715 million in federal funds meant to bolster Puerto Rico’s energy resilience, asking the U.S. Department of Energy for a briefing on why the money was reduced and how it affects the island’s grid reliability. In parallel, Puerto Rico’s industrial and manufacturing footprint drew attention through Amgen’s announcement of an additional $300 million investment in its Puerto Rico biologics manufacturing network (including the Juncos facility), framed as expanding capacity and strengthening medicine supply. The same window also included a Puerto Rico-related legal/business item: a report that a shipping company and marine insurer will pay $17 million to resolve a dispute alleging damage to Puerto Rico coral reef areas from a 2006 oil tanker grounding.

The most concrete Puerto Rico-specific “industry” development in the last 12 hours was Amgen’s expansion plan, which was described as part of a broader multi-year reshoring/manufacturing strategy and tied to workforce development and construction jobs (though the text does not quantify the new hires). Another Puerto Rico-adjacent item with operational implications was Avelo’s discounted fares and status match aimed at travelers affected by Spirit Airlines’ shutdown, with the coverage noting Avelo serves destinations including Puerto Rico—positioning Puerto Rico as part of the route network being used to absorb displaced demand. Separately, a Puerto Rico-related environmental/legal headline referenced a settlement involving reef harm, suggesting continued follow-through on maritime environmental liability affecting the island.

Beyond Puerto Rico, the last 12 hours also carried broader context that intersects with regional supply chains and compliance environments. Coverage included a multi-agency drug trafficking operation involving trafficking from Mexico and Puerto Rico to Southwest Florida (15 arrests; drugs, guns, and cash seized), and a U.S. employment compliance update explaining changes to ICE Form I‑9 inspection guidance—both of which can affect labor and operational risk management for employers operating in or connected to Puerto Rico. While not Puerto Rico-exclusive, these items reflect the same “risk and enforcement” theme that also appears in the energy-resilience funding scrutiny.

Looking at the 3–7 day window for continuity, Puerto Rico’s energy and economic conditions remain a recurring thread. Earlier coverage referenced Puerto Rico’s economic activity registering another decline and included items about PREPA restructuring talks and court/oversight dynamics—background that helps explain why the new Connecticut congressional letter focuses on grid resilience funding and outcomes. The older range also included additional Puerto Rico-linked industrial signals (including other Amgen investment mentions and Puerto Rico economy reporting), but the provided evidence is much richer on the energy-investment and compliance themes than on any single new Puerto Rico event—so the most “fresh” change in this rolling week appears to be the renewed federal-funding investigation request and Amgen’s incremental $300M expansion announcement.

In the last 12 hours, Puerto Rico-focused coverage centered on energy, manufacturing, and local policy. The Puerto Rico Energy Bureau ordered LUMA Energy to cancel disputed electricity charges billed to the Municipality of Camuy for six municipal facilities, citing improper charges under the CELI framework and reinforcing protections for public, non-profit municipal uses. In parallel, the Puerto Rico House Speaker Carlos “Johnny” Méndez Nuñez said the House will seek a meeting with the Financial Oversight and Management Board to request a temporary suspension (and eventual repeal) of the “crudita” excise tax on gasoline and diesel, while emphasizing that any change must not jeopardize government solvency. On the economic side, the SBA reported significant manufacturing momentum—citing a 79% increase in access to capital in Puerto Rico’s manufacturing sector—and the Puerto Rico Manufacturers Association recognized Goya Puerto Rico for its industrial contribution and long-running relationship with the association.

Also in the last 12 hours, multiple business and investment items pointed to continued industrial and infrastructure activity with Puerto Rico in the mix. Amgen committed nearly $300 million to expand biologics manufacturing in Puerto Rico, adding to a broader reshoring/production-capacity narrative described in the coverage. Separately, a federal contracting award was announced for a $2B USACE Energy Resilience and Conservation Investment Program MATOC, with task orders that may include microgrids, battery storage, and electrical/water infrastructure work at U.S. military facilities—including in the Commonwealth of Puerto Rico. The coverage also included a software and engineering-technology thread (PMA’s NetPoint 5.4 release and CivilGEO’s G2 rankings), though those items were not specifically Puerto Rico-only.

Beyond Puerto Rico-specific business and policy, the most recent batch included broader U.S. and international developments that indirectly intersect with Puerto Rico’s economy and markets—especially energy and logistics. A report on Suncor described selling high-demand refined products (including in Puerto Rico) at significant premiums amid Middle East-related supply disruptions, while another item described U.S. regulatory enforcement momentum via an HHS OIG annual report on Medicaid Fraud Control Units (including Puerto Rico as a covered jurisdiction). However, these are more contextual than directly tied to a Puerto Rico policy decision in the last day.

Over the prior 3–7 days, the Puerto Rico thread was comparatively thinner in the provided material, but it showed continuity in themes like governance, infrastructure, and local economic development. The earlier range included references to Puerto Rico’s economic indicators (e.g., Planning Board reporting growth figures) and additional Puerto Rico-related initiatives (such as agriculture and tourism employment themes, and restructuring/bankruptcy-related items affecting local institutions). Still, because the most recent 12-hour evidence contains the clearest Puerto Rico-specific actions (PREB/LUMA ruling, “crudita” tax push, SBA manufacturing capital growth, and Amgen’s investment), the overall picture is that the latest coverage is more about concrete decisions and investments than about broad macro trends.