Business View Caribbean July 2023

22 BUSINESS VIEW CARIBBEAN VOLUME 10, ISSUE 7 Villavicencio provided a comprehensive overview of the unique characteristics of the Puerto Rican market that influenced his firm’s decision to venture into this realm. He explained that the scarcity of local competitors and a less extensive pool of specialty subcontractors played a substantial role in shaping their business model. Villavicencio stated, “We noticed immediately that there isn’t that large of a pool of specialty subs that you can rely on to do every single thing on a job.” This scarcity required them to shoulder additional responsibilities themselves. “In some cases, we had to gain the expertise and find the right people to do that work to make sure that we deliver,” he added. Despite these challenges, their team’s diverse engineering background allowed them to adapt to various projects and available subcontractors, even opting to self-perform specific mechanical, electrical, and specialty finishes work when necessary. Villavicencio also offered a perspective on the recent construction boom in Puerto Yet, the struggle was not with their employees but with other subcontractors and suppliers facing staffing issues. As a general contractor, ICS had to find ways to cope with this reality. “Our strategy was to be upfront and document everything going on with our customers and clients while seeking alternatives,” Villavicencio explains. Amidst these challenges, one concern loomed large: time. As Villavicencio observes, project delay is often a client’s primary worry. The company also learned to be more selective in its projects. “Do we need these many projects and these larger projects, or is it a better strategy to be able to pick and choose now that we have the experience?” Villavicencio poses. This more discerning approach has allowed the company to foster and maintain relationships with repeat business customers in the commercial sector and the federal government. Exploring Puerto Rico’s Unique Market Landscape: Strategic Expansion and Local Construction Nuances