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Hewlett-Packard And PRIDCO Sign $46 Million R&D Incentive Agreement


August 10, 2000
Copyright © 2000 CARIBBEAN BUSINESS. All Rights Reserved.

Hewlett-Packard Puerto Rico will receive approximately $46 million over a four-year period from the Puerto Rico Industrial Development Company (Pridco) to invest in the research and development (R&D) of new products and manufacturing processes in Puerto Rico.

The company has committed an additional $54 million to build a new technology center in Puerto Rico. Initially, the center will operate within Hewlett-Packard’s Aguadilla plant until a construction date is determined.

Xavier Romeu, executive director of Pridco, said, "The $100 million investment is part of Gov. Rossello’s science and technology program. With this, we move towards the transformation of industrial and technological activity in Puerto Rico. At the same time, this is the first project involving government, academia, and manufacturing that will evolve within the Technology Corridor."

"The new Technology Center will eventually add up to 75 new jobs, mostly scientists, R&D engineering specialists, and information technology specialists. This does not include professors and engineering students that will be hired from the University of Puerto Rico’s Mayaguez campus," Hewlett-Packard Communications and Public Affairs Manager Miguel Pereira told CARIBBEAN BUSINESS.

Hewlett-Packard operates two divisions at its Aguadilla site. One is the Puerto Rico Manufacturing Organization, led by Operating Manager Lucy Crespo, which manufactures memory and computing equipment. The other is the Inkjet Supplies Organization, at which Operating Manager Iris Santos supervises production of printing products.

Santos said, "Various R&D projects and manufacturing processes have been identified and will begin implementation immediately, thanks to the agreement signed with Pridco. This will allow our Aguadilla plant to play a leading role in the introduction of new high technology products in global markets."

This Caribbean Business article appears courtesy of Casiano Communications.
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