40 December 2015 - Business View Caribbean
cut costs and bid for smaller projects in order to keep
as many employees – some of whom have been with
him since his college days – on the payroll. But with
Puerto Rico’s economy still very much stuck in the dol-
drums, F & R, even with its 500 current employees,
has yet to return to the time when it could offer work
to 1,500 builders and craftsmen. “We used to not look
at projects below $10 million,” Fullana admits. “Now,
in today’s market, we’ll do a million dollar job – just to
keep my key personnel.”
As Puerto Rico struggles to regain its economic mo-
mentum, Fullana is betting on the potential success of
two government initiatives, passed in 2013, in an ef-
fort to attract more capital to the island. Puerto Rico’s
Acts 20 & 22, are tax incentive laws aimed at luring
wealthy American investors to move there. Act 20, the
Export Services Act, offers incentives to certain ser-
