First phase of $100 million Guanajibo high-tech industrial park all set
The first phase of the $100 million redevelopment of the Guanajibo Research & Innovation Park (GRIP) in Mayagüez is all set to be inaugurated next month. The facility, a conversion of an existing industrial park which now includes a brand-new bioprocessing development & training complex, will become the first high-tech industrial park to be inaugurated in Puerto Rico. Its aim is to attract local technology entrepreneurs and small to midsize international projects in aerospace and life sciences.
“GRIP is in the first of a three-phase development process that up until now has seen an investment of $20 million. The second phase will involve an investment of $50 million, and the third phase should be approximately $30 million, rounding out the total investment projected for GRIP at $100 million. This is a 10-year project in which the park’s transformation should be completed sometime in 2017 or 2018,” said Nelson Perea, Puerto Rico TechnoEconomic Corridor (PRTEC) executive director.
Meanwhile, development is under way for Las Américas Technology Park in Moca which, unlike GRIP, isn’t a conversion of an existing park, but a brand-new, world-class technology park geared toward international projects in computers & information technology (C&IT) and aerospace.
Las Américas is a first-of-its-kind joint, public/private collaboration between the Puerto Rico Industrial Development Co. (Pridco) and Hewlett-Packard (HP), which involves a custom-made concept, or constructing buildings to clients’ specifications. “So far, $30 million have been invested and/or committed to the project. Las Américas Technology Park will be for larger projects (clients), and the first phase of this park should be completed sometime in 2012 or 2013.”
PRTEC, is a nonprofit organization geared to the economic development of Puerto Rico’s western region, with a focus on innovation and high-tech industries through collaboration among private companies, government entities and academia.
According to Perea, his organization is focused on three main areas: the development of infrastructure initiatives and the business environment; innovation and entrepreneurship; and talent and development of the work force.
In addition, PRTEC oversaw the administration of two incubators in the region (ViTEC and ViTEC2), which have proven to be quite successful, recently promoting two technology startups (Crawlability Inc. and renewable Solutions Engineering) through the incubation program.
Established in 1999, ViTEC is the only high-tech business incubator in Puerto Rico. ViTEC2 focuses on helping tenants commercialize their products and/or technologies as well as providing a network of specialized resources, including access to seed funding. Near the University of Puerto Rico (UPR) Mayagüez campus, the incubators will move to the GRIP location within one year to 18 months.
“Total investment and economic impact on the western region once the projects are completed is estimated at $360 million, which consists of $100 million in infrastructure development—including the two technology parks (GRIP and Las Americas) and improvements to the Aguadilla airport; $110 million in Research & Development (R&D), more than 90% of which is by the University of Puerto Rico (UPR); and $150 million in private-sector investment and net payroll of new companies that recently established in the region or expanded operations,” concluded Perea.
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