AGP Executive Report

Aviation & Trade Disruption: An Amazon Prime Air cargo Boeing 767-300 operated by 21 Air overran Runway 30 at Miami International Airport after arriving from San Juan, Puerto Rico, striking multiple vehicles and bursting into flames; authorities report 5 deaths and 5 injuries (three in critical condition) and a major response involving 60+ fire units, with officials noting an active fuel leak and a temporary airport ground stop that caused widespread flight delays. Corporate Response: Amazon said it is “working closely with local authorities” and prioritizing care for those affected while the FAA and NTSB investigate the cause. Puerto Rico Business Angle: The crash highlights the operational risk in the Puerto Rico-to-U.S. air cargo pipeline, where disruptions can quickly ripple into logistics, delivery timelines, and costs for shippers and retailers.

Entrepreneurship & Capital Access: Boricua Emprende Fest drew 2,275 people to the Puerto Rico Convention Center, featuring panels on permits, compliance, marketing, finance and AI, plus a BE Boricua Pitch Competition with 20 finalists chasing $20,000+ in seed capital. Consumer & Health Alert: Clorox Puerto Rico recalled about 6.3M scented Mistolin and Lestoil cleaners sold in Puerto Rico and the U.S. Virgin Islands due to possible Pseudomonas aeruginosa contamination, with higher risk flagged for immunocompromised travelers and people with external medical devices. Tourism & Payments: Bad Bunny’s sold-out concerts in San Juan (Aug. 22-23) boosted local spending—Visa transactions across all payment methods rose nearly 11% vs. last year, with food/dining up 19% and lodging up 8%. Energy & Business Leadership: Fernando Osorio Caño was named PREPA interim director after Zapata’s resignation, as the utility faces ongoing contract and legal pressures. Local Business Ecosystem: Fibre Federal Credit Union earned recognition tied to Juntos Avanzamos, highlighting expanded financial well-being support across Puerto Rico and beyond.

Consumer Safety Recall: Clorox Puerto Rico recalled about 6.3 million bottles of scented Mistolin and Lestoil cleaners sold in Puerto Rico and the U.S. Virgin Islands after possible contamination with Pseudomonas aeruginosa, with higher risk flagged for immunocompromised travelers and people with external medical devices. Tourism & Spending: Bad Bunny’s sold-out concerts in San Juan (Aug. 22-23) boosted local commerce, with Visa transactions up nearly 11% vs. the prior year period and food/dining rising 19%, plus lodging up 8%, driven by both local and international visitors. Local Economy & Policy: Puerto Rico was named International Guest Destination of Honor for ANATO 2027, aiming to deepen tourism demand—especially from Colombia—and spur new commercial deals. Energy & Infrastructure: Puerto Rico’s PREPA leadership change and ongoing energy contract disputes continue to draw attention as the island navigates reliability and financing pressures. Business & Growth: DDEC launched an initiative to bring economic development services to Puerto Rico’s 78 municipalities, targeting broader access to support for local businesses and entrepreneurs.

Puerto Rico Tourism & Trade: Puerto Rico was named International Guest Destination of Honor for ANATO 2027 in Bogotá, with the Tourism Company pitching new deals and stronger visibility in Latin America’s fastest-growing travel corridor. Energy & Power Governance: PREPA’s executive director Mary Carmen Zapata resigned at the governor’s request, and Fernando Osorio Caño was named interim leader as PREPA also faces legal fallout tied to canceled temporary power contracts. Workforce & Mental Health: A regional TELUS Health study flags Puerto Rico’s workplace mental health as “vulnerable,” citing weak emergency savings and financial stress as key risks to productivity. Local Business & Growth: Entrepreneur Brian Ruiz launched a luxury mobile salon aimed at reshaping Puerto Rico’s beauty services, while a new tourism push and municipal economic initiatives highlight continued efforts to drive local demand. Consumer Payments & Tourism Spend: Visa analysis says Bad Bunny’s San Juan finale boosted citywide transactions nearly 11% year over year, with food and lodging among the biggest gainers. Finance Policy: Gov. Jenniffer González Colón filed legislation to enable “Trump Accounts” in Puerto Rico, expanding tax-advantaged savings options for minors.

Puerto Rico Energy & Governance: PREPA’s executive director Mary Carmen Zapata resigned at the governor’s request, and Fernando Osorio Caño was named interim head, as PREPA faces both leadership shakeups and legal pressure tied to canceled temporary power contracts. Workforce Well-Being: A regional mental health study flags Puerto Rico as “vulnerable,” citing weak emergency savings and financial stress as major risks to employee stability and productivity. Youth Finance Policy: Gov. Jenniffer González-Colón announced legislation to enable Puerto Rico’s “Trump Accounts” for minors, aiming to expand tax-advantaged savings and investment options for children and young people. Local Business & Community: A Puerto Rican entrepreneur launched a luxury mobile salon (“El Camerino”) to bring high-end beauty services directly to clients across the island. Port & Logistics: Ports America and Trailer Bridge signed a 10-year Jones Act stevedoring and terminal technology deal for the Jacksonville–San Juan lane, with longer options and improved cargo tracking planned. Sports Medicine Partnership: Orlando Health Jewett Orthopedic Institute extended its sports medicine partnership with Holy Trinity Episcopal Academy, continuing on-campus coverage and access to orthopedic care.

Puerto Rico Treasury Update: Puerto Rico closed Fiscal Year 2026 with General Fund net revenues of $13.91 billion, up $279.1 million (2%) year over year, driven by stronger corporate and individual income tax collections and a jump in June receipts tied to manufacturing. Energy & Legal Fallout: PREPA’s board accepted the resignation of executive director Mary Zapata Acosta, naming Fernando Osorio as interim chief, amid controversy over a canceled 400 MW emergency power contract; Power Expectations is suing PREPA in federal court, alleging breach and bad faith after the Financial Oversight and Management Board revoked approval over alleged forgery. Household Safety Recall: Clorox recalled about 6.3 million bottles of Mistolin and Lestoil cleaners sold in Puerto Rico and the U.S. Virgin Islands due to potential Pseudomonas aeruginosa contamination, with higher risk for people with weakened immune systems or medical devices. Labor & Services: The Family Department extended an in-home aide services contract pending Financial Oversight Board review, keeping elderly and disabled home support running while paperwork clears. Corporate Finance Watch: Shareholder-rights firms renewed alerts tied to Flotek Industries (FTK) securities litigation, citing claims connected to its Puerto Rico Electric Power Authority project.

Puerto Rico Fiscal Health: The Treasury Department reported $13.9129B in General Fund revenues for FY2026, up $279.1M (2%) year over year, and above oversight-board projections—driven by corporate and individual income taxes, the Sales and Use Tax, and nonresident withholding. Energy Contract Scrutiny: Lawmakers are demanding answers after a Puerto Rico power-generation deal worth nearly $6B was canceled over alleged forged signatures tied to temporary generation procurement. Drought Relief for Farmers and Small Business: USDA expanded Puerto Rico’s drought disaster declaration, bringing the covered municipalities to 38 and unlocking emergency loans and SBA Economic Injury Disaster Loans for eligible small businesses and nonprofits. Consumer Safety Alert: CPSC recalled 6.3M bottles of Mistolin and Lestoil cleaners sold in Puerto Rico and the U.S. Virgin Islands due to possible bacterial contamination. Retail Expansion Watch: Five Below says it plans to enter Puerto Rico in the second half of 2027, citing strong customer fit and real estate opportunities. Labor/Union Oversight: A federal judge ended a 37-year Teamsters monitorship, a major shift in how the union is supervised.

Product Safety: The U.S. Consumer Product Safety Commission issued a recall of 6.3 million bottles of Clorox cleaners sold in Puerto Rico and the U.S. Virgin Islands after reports of bacterial contamination, including specific Mistolin Dilutable and Lestoil Heavy Duty products with date codes starting “PR01.” Water & Resilience: Puerto Rico’s drought response is expanding, with the government seeking emergency funds to evaluate and rehabilitate five inactive public wells that could add up to 5 million gallons per day if cleared, while USDA expanded the federal drought disaster designation to 38 municipalities. Local Business Support: Puerto Rico’s Economic Development and Commerce Department launched “Economic Development on the Road” to bring permits, incentives, business development, workforce and export support directly to all 78 municipalities. Infrastructure Contract: Ferrovial Construcción PR LLC won a $1.1B U.S. Army Corps contract to widen and enhance the Río Piedras channel in San Juan, aimed at reducing annual flood damage. Financing for Entrepreneurs: The Economic Development Bank reported higher FY2026 lending to entrepreneurs, including growth in funding for women-led businesses. Corporate/Markets: ENR’s Top 400 review highlights how the data center boom is raising construction demand—and workforce and execution pressures.

Retail Expansion in Puerto Rico: TJ Maxx will open a new 26,656-square-foot store at Plaza Carolina in Carolina on Sept. 10, relocating from Villa Fontana and bringing discounted fashion, designer brands, accessories, home goods and beauty to the island. Healthcare Deal Update: El Maestro Hospital’s association completed its Chapter 11 exit, closing the sale of the institution for $15.6 million to González Group LLC after a year-long bankruptcy process. Water Crisis Response: Connecticut officials will travel to Puerto Rico in October to help identify infrastructure solutions as the island continues rotating water rationing affecting hundreds of thousands of customers. Local Economy Snapshot: Puerto Rico’s real estate market saw fewer transactions in the first half of 2026 (13,733, down ~7%) even as average prices rose about 12.6% to $259,555. Business & Community: Meta’s $17B settlement and child-safety reforms are drawing scrutiny over how age assurance and restrictions are handled. Maritime Safety: The Coast Guard is warning travelers across Puerto Rico and the U.S. Virgin Islands to avoid illegal charter operations and verify credentials before boarding.

Puerto Rico Real Estate: Transactions fell in the first half of 2026 while prices rose—13,733 sales from Jan–Jun, down about 7% year over year, as the average price jumped roughly 12.6% to $259,555, with most activity still clustered at $300,000 or less. Hotel Investment: Marriott has completed a $38 million transformation of its Isla Verde property, rebranding it from Courtyard to a full-service Marriott with 260 renovated rooms and a stronger resort positioning. Federal Oversight Board: The U.S. DOJ says it doesn’t oppose turning a prior court ruling into a permanent injunction blocking the attempted removal of three Puerto Rico Financial Oversight and Management Board members. Ports & Trade: Ports America and Trailer Bridge launched a 10-year Jacksonville partnership tied to the Jacksonville–San Juan Jones Act barge route, including stevedoring and rollout of Ports America’s Dockworks terminal tech. Energy & Business Risk: Investor notices continue around Flotek Industries’ Puerto Rico Electric Power Authority project, with class-action deadlines highlighted for shareholders. Local Policy: Puerto Rico’s federal affairs office says a stopgap funding bill approved by Congress will keep federal agencies operating through Dec. 11, supporting programs that matter on the Island.

Tourism & Hospitality: Disney Cruise Line will add eight Puerto Rico visits in fiscal year 2028, with an estimated $7.2 million economic impact as San Juan becomes a homeport for the first time during peak Caribbean months. Energy & Infrastructure: The U.S. built more grid batteries than ever before, and the policy shift is already showing up in Puerto Rico—where a $490 million battery loan and supply-chain push for critical minerals are aimed at keeping power reliable. Local Development & Environment: A documentary on Puerto Rico’s proposed $2 billion Esencia luxury coastal project in Cabo Rojo spotlights fears over water strain and impacts to farmers amid the island’s worsening water crisis. Governance & Power Markets: The Trump administration appears ready to pursue another route to dismiss Puerto Rico Oversight Board members, raising questions about how PREPA’s Title III bankruptcy could play out. Finance & Business: Banesco USA appointed Teresa Stinson to its board, highlighting her Puerto Rican roots and commercial banking experience. Legal/Markets: Multiple law firms renewed notices tied to Flotek Industries investors over alleged PREPA-related misstatements, with a key lead-plaintiff deadline of Oct. 26, 2026. Trade & Logistics: Ports America and Trailer Bridge signed a 10-year Jacksonville–San Juan Jones Act partnership, linking stevedoring with terminal tech and rolling out customer-facing visibility in 2027. Tech & Credit Access: Soft Pull Solutions promoted a Puerto Rico-focused credit-pull strategy designed to improve match rates without routinely requiring Social Security numbers.

Puerto Rico Fiscal Oversight: The Financial Oversight and Management Board granted a one-time extension for FY2026 obligations through Oct. 31, but warned the government over delays tied to ÍntegraPR’s July 7 rollout and demanded tighter reporting on legacy systems. Water & Power Watch: Gov. Jenniffer González kept current water-rationing schedules for customers served by Carraízo and said no new reservoirs will be added, while drought conditions persist and officials evaluate options like activating offline wells. Energy Procurement Politics: PDP lawmakers questioned why a public hearing on the failed temporary generation contract shifted to a private meeting with the energy czar, after concerns surfaced about signature validity in the Power Expectations deal. Workforce Development: The governor signed an executive order implementing Puerto Rico’s Workforce Pell Grant Program to expand access to federal education funds for short, in-demand training programs. Tourism & Sports Business: Passport Sports and Discover Puerto Rico launched the Puerto Rico Beisbol Experience, bringing managed youth baseball travel to the island. Trade & Logistics Costs: Panama Canal slot reductions due to low water levels could raise shipping costs and delay goods—especially imports routed from Asia to Puerto Rico. Cruise Industry Momentum: Puerto Rico will host the Florida-Caribbean Cruise Association conference Oct. 12-16, aiming to define new growth opportunities as passenger projections top 2 million for 2026.

Meta Youth-Safety Settlement: Puerto Rico House Speaker José Aponte wants part of the territory’s $124.7M Meta settlement to fund an anti-addiction program for minors, with AMSSCA leading prevention and parent guidance. Big Tech Legal Pressure: The broader multistate Meta deal—$17.1B nationwide—requires new Instagram/Facebook safety features like daily time limits and nighttime blocks for kids. Local Workforce Policy: Gov. Jenniffer González-Colón signed an executive order adopting the Workforce Pell Grant Program to expand federal funding for short-term training tied to high-demand jobs. Manufacturing Jobs: PRIDCO and the governor announced Pentaq Manufacturing’s Sabana Grande expansion, adding 50 jobs and supporting U.S. Army uniform components. Port & Logistics Cost Cut: Puerto Rico’s Ports Authority confirmed it repealed Regulation 8837, ending the “scanning charge” for cargo containers at San Juan dock. AI for Financial Access: Sun West Mortgage and AngelAi launched “Angel Agents,” aiming to deploy secure, multi-tenant personal AI tools to help the unbanked access digital financial services.

Workforce & Education: Gov. Jenniffer González Colón signed Executive Order OE-2026-043 to adopt and implement the Workforce Pell Grant Program, setting Puerto Rico’s framework to steer federal funding toward short-term postsecondary training tied to high-demand jobs. Energy Reliability & Governance: LUMA reported 175,352 customers without power as of 3 p.m. Sunday, while lawmakers are weighing amendments to Regulation 8815 to shift temporary generation contracting authority directly to the Puerto Rico Energy Bureau, sidelining the 3PPO role amid urgent grid needs. Local Power Procurement Dispute: The resident commissioner says he’ll push for a congressional investigation into the Power Expectations contract and demand answers from the Energy Czar and 3PPO leadership. Ports & Logistics Costs: Puerto Rico Ports Authority confirmed it repealed the regulation behind the San Juan dock “scanning charge,” a move the shipping sector says removes an extra cost from the distribution chain. Industrial Jobs: PRIDCO transferred a new 5,785-square-foot facility in Sabana Grande to Pentaq, enabling expansion tied to 50 new jobs producing items for U.S. Army physical training uniforms. Military Microgrids: A Native-led JV won a $45M U.S. Army Corps of Engineers contract to build a Fort Buchanan microgrid designed to keep operations running up to 14 days during outages. Business Finance Watch: A Flotek Industries (FTK) securities class action notice highlights investor deadlines tied to alleged procurement-related fallout tied to Puerto Rico oversight. Travel Costs: Labor Day airfare is up sharply (domestic +26% vs. last year), even as rental cars are down 9%, adding pressure to end-of-summer budgets.

Puerto Rico Retirement Math: A new explainer breaks down the real costs of retiring to Puerto Rico beyond the usual Act 60 pitch, flagging how Medicare enrollment timing, tax treatment of different income streams, and everyday living expenses can push the needed investment far higher than brochures suggest. Energy & Defense Contracting: A Native-led joint venture won a $45M U.S. Army Corps of Engineers contract to build a Fort Buchanan microgrid in Puerto Rico designed to keep operations running for up to 14 days during grid outages, combining dispatchable power, long-duration batteries, renewables, and advanced controls. Water & Power Pressure: Coverage continues around Puerto Rico’s drought and utility strain, including drought disaster steps and emergency reserve access aimed at stabilizing water response as electricity and infrastructure gaps remain a business risk. Local Business Climate: Separate reporting highlights how policy proposals and public safety concerns can quickly affect customer traffic and spending—an issue Puerto Rico businesses watch closely as local conditions shift.

Defense Contract: Cayuse Native Hawaiian Veterans LLC secured a spot on a $249M U.S. Navy ship-repair contract vehicle for work in Guam, with the ceiling not tied to committed funding and orders issued later under a HUBZone set-aside. Local Business & Dining: Ponce City Market in Atlanta welcomed Japanese concepts NoriFish (hand rolls) and Okiboru (ramen/tsukemen), taking over former stalls and expanding the food hall’s lineup. Water & Energy Risk: Puerto Rico’s drought emergency remains front and center, with agencies and officials discussing severe water shortages and grid stress as solar adoption accelerates. Big Tech & Youth Safety: A landmark multistate Meta settlement is driving new limits and nighttime blocks for teens on Instagram and Facebook, with Puerto Rico flagged for protections for minors under an agreement allocating $124.7M. Media & Compliance: The FCC outlined September broadcaster deadlines, including regulatory fee timing and the Auction 114 short-form filing window for new FM station construction permits. Investigative Journalism: Florida’s Sunshine State Awards named the Miami Herald and WLRN’s “Killer Train” Brightline investigation the top investigative reporting honor, underscoring safety accountability across the region.