Emerging in the Puerto Rico industrial map, creative industries are taking a new role on the economic development of the Island. Media, film, advertising and publishing are some of the areas that already have a solid presence, leading a stream of businesses based on the individual creativity of our human capital.
-
Around 1,900 businesses related the creative industry
-
Over 14,000 employees
-
Average annual salary: $26,000
Creative industries can benefit from the highly competitive incentives that Puerto Rico offers, including:
Economic Development Incentives Act benefits:
-
4% tax rate
-
Up to 1% income tax rate for innovative activities
-
Up to 50% tax credit for purchasing local and recycled products
-
Up to $5,000 tax credit for job creation
-
Tax credit for investing in structure, machinery and equipment
Puerto Rico Film Industry Incentives Act benefits:
-
40% tax credit on payments to local companies and individuals
-
25% tax credit on development or expansion cost of eligible infrastructure projects
-
Preferential tax treatment and exemptions for people engaged in film projects and other purposed-built media facilities