puerto rico industrial development company agency overview formed may 11 1942 ; 74 years ago 1942 05 11 preceding agency puerto rico economic development administration jurisdiction executive branch headquarters san juan puerto rico agency executive antonio medina comas executive director parent department department of economic development and commerce child agency rums of puerto rico key document law no. 188 of 1942 website www.pridco.pr.gov the puerto rico industrial development company pridco spanish compa a de fomento industrial de puerto rico or simply fomento is a government owned corporation of puerto rico authorized and empowered to induce private capital into puerto rico in order to establish trade cooperatives and industrial operations in puerto rico . 1 as its primary function pridco is known for providing incentives to both native and foreign companies that either manufacture in puerto rico or export from puerto rico . contents 1 history 2 executive directors 3 references 4 external links history edit pridco was created by the government of puerto rico in 1942 along with the puerto rico government development bank gdb during the governorship of rexford g. tugwell . its purpose was to finance the construction and operational management of industrial parks where stateside manufacturing companies could find low rent venues for their operations . for decades pridco operated as a subsidiary of the puerto rico economic development administration preda ; the agency that oversaw the systematic operation which transformed the economy of puerto rico from an agricultural economy into an industrial one known as operation bootstrap . bootstrap was the brainchild of preda s first administrator teodoro moscoso . other notable industrialists served in preda as well such as hugo david storer tavarez who served as the director of promotion for some years and william riefkohl who served as its deputy administrator from 1988 to 1992 . 2 3 as preda continued to transform puerto rico pridco eventually became an independent agency . a government reorganization eventually merged preda into pridco establishing pridco as the focal agency for all manufacturing in puerto rico while preda ceased to exist . today pridco also oversees the program to promote puerto rican rums which enjoy cover over subsidies when sold in the united states . the agency is also now under the umbrella of the department of economic development and commerce of puerto rico ddec an executive department . from 2001 till 2002 william riefkohl was the executive director of the company . 4 executive directors edit main article list of executive directors of the puerto rico industrial development company this section has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this list is incomplete . please help to improve it or discuss the issue on the talk page . december 2012 this section may not properly summarize its corresponding main article . specific concerns can be found on the talk page . please help improve this section if you can . learn how and when to remove this template message as preda teodoro moscoso jos madera manuel dub n xavier romeu as pridco enrique rodr guez negr n xavier romeu jaime morgan stubbe william riefkohl jorge silva puras boris jaskille javier vazquez morales 2011 2013 jos p rez riera 2013 present antonio medina comas references edit law no. 188 of 1942 foto el mundo . bibliotecadigital.uprrp . retrieved 2009 10 04 . 82 sigma convenci n. puerto rico fi sigma alfa . october 2010 . p. 7 . 82 sigma convenci n. puerto rico fi sigma alfa . october 2010 . p. 7 . external links edit www.pridco.pr.gov official site spanish v t e government owned corporations of puerto rico banking cofim cofina economic development bank government development bank education conservatory of music school of plastic arts university of puerto rico campuses entertainment convention center institute of puerto rican culture performing arts center public broadcasting corporation symphony orchestra wipr am wipr fm wipr tv industrial development economic development bank industrial development company insurance state insurance fund corporation public utilities aqueducts and sewers authority electric power authority real estate convention center district authority travel and leisure tourism company transportation automobile accident compensation administration highways and transportation authority maritime transport authority metropolitan bus authority ports authority retrieved from https en.wikipedia.org w index.php title puerto rico industrial development company & oldid 606871548 categories 1942 establishments in puerto ricocompanies established in 1942government owned corporations of puerto ricoindustrial development agenciesmanufacturing in puerto ricohidden categories articles containing spanish language textarticles to be expanded from december 2012wikipedia articles with content forksarticles with spanish language external links navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 3 may 2014 at 08 10 . text is available under the creative commons attribution sharealike license ; 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