The Program for SMEs in the Urban Area of Rio Piedras is an initiative of the Department of Economic Development and Commerce (DDEC) that seeks to enable SME entrepreneurs to benefit from an economic incentive aimed at creating new businesses in Rio Piedras, to strengthen business operations and increase sales, in addition to promoting the revitalization and economic development of the Urban Area of Rio Piedras. This is in line with Joint Resolution No. 33 of March 27, 2024, Strategic Plan for the Revitalization and Economic Development of the Urban Area of Rio Piedras.
Who can participate?
Small businesses that generate a gross income of less than three million ($3,000,000.00) or less and/or employ no more than twenty-five (25) full-time employees or their equivalent and must establish or expand their business in the Rio Piedras Urban Center Entrepreneurship Zone, described in the Program's Circular Letter. In addition, the business must have less than twelve (12) months of operation (1 year or less).
BUSINESS AREA IN THE URBAN AREA OF RIO PIEDRAS
For the purpose of this incentive, the urban area of Rio Piedras will be delimited under an Entrepreneurship Zone that includes the following areas: the north from the intersection of the Jesús T. Piñero express with Luis Muñoz Rivera Avenue, running east along the Jesús T. Piñero express, until its intersection with Juan Ponce de León Avenue. From this point, it runs south along Juan Ponce de León Avenue, until its intersection with Dr. José N. Gándara Avenue. In the latter, it runs east, until its intersection with José Celso Barbosa Avenue, where it runs south to its intersection with Avenida 65 de Infanería. From this intersection, it runs east along 65 Infantry Avenue to its intersection with Luis Muñoz Rivera Avenue. It runs from this intersection to the north along Luis Muñoz Rivera Avenue to its intersection with the Jesús T. Piñero express. To the North by the Jesús T. Piñero express; to the South, by the Botanical Garden of the University of Puerto Rico; to the East, by Quebrada Juan Méndez and Ave. 65 of Infantry; and to the West, by Muñoz Rivera Avenue. It includes the following sectors: Urban Center, Capetillo, Buen Consejo, Venezuela, Santa Rita, García Ubarri, Blondet and Mora. It should be noted that this area excludes the premises of the University of Puerto Rico.
See Circular Letter 2024-013 of the Program for SMEs in the Urban Area of Rio Piedras.
SME entrepreneurs can obtain an economic incentive of up to ten thousand dollars ($10,000.00) per company through reimbursement.
Entrepreneurs who wish to apply for the economic incentive must meet the following requirements:
