In order to expand operations and meet the local demand for coffee, as well as implement export plans, the Department of Economic Development and Commerce (DDEC) granted Café Oro de Puerto Rico incentives aimed at creating new jobs and purchasing machinery to renew and strengthen roasting.
"We are extremely pleased to support the development of the local coffee industry, through the granting of these incentives that will serve for the creation and retention of jobs in the Lares region, allowing its production with modern machinery that will allow it to start exporting and taking delicious Puerto Rican coffee outside our borders," DDEC Secretary Manuel Cidre stated. "We are excited to help local farmers in their effort to increase the added value of their farms and crops."
To fulfill its expansion plans, Café Oro, a company located in the municipality of Lares, will be creating 15 new jobs, with an estimated payroll of $292,500, and will retain 19 jobs. The company will also invest over $2.4 million in new equipment. The DDEC approved the grant of up to a maximum of $54,400 to create and retain jobs in a five-year period.
Moreover, Café Oro will receive incentives from the Special Fund for the Economic Development of Puerto Rico for $1,235,640 for the purchase and equipment of machinery, including their installation, calibration, and start-up.
"We thank the DDEC and the government of Puerto Rico for supporting the coffee industry in Puerto Rico. Our vision of being the preferred coffee of consumers in Puerto Rico and being able to export our coffee outside the island is becoming a reality. Thanks to our employees, who strive every day to produce a better product, and to consumers for supporting our coffee. We hope to continue our growth and at the same time help the economic development of Puerto Rico," said José Torres Olivencia, president of Café Oro.
Café Oro de Puerto Rico, was born from a Puerto Rican family with a coffee tradition that spans more than five decades. In their roasting plant, they maintain the traditional "mountain roast" of our ancestors, to guarantee their consumers the aroma and flavor of authentic Puerto Rican coffee. Café Oro owns its farms, processing and roasting to guarantee the quality of its product.