Today : Dec 28, 2024
Economy
27 December 2024

Puerto Rico Boosts Economic Initiatives For Growth

Increasing demand for skilled workers propels tourism, manufacturing, and clean energy projects forward.

Puerto Rico is poised for significant economic growth as industries like tourism and manufacturing take center stage, with experts emphasizing the need for skilled workers across various sectors.

According to Melissa Rivera-Roena, the general manager of ManpowerGroup Puerto Rico, demand for workers is soaring, particularly within these key sectors. "Puerto Rico is the cradle of manufacturing, and regardless of politics and economic situations, the island continues to be the ideal place where manufacturing companies want to establish their businesses," Rivera-Roena stated. She emphasized the need to cultivate talent for the tourism sector as well, noting some challenges. "Finding the right talent for tourism positions can be difficult; candidates may have experience but often lack the necessary soft skills to excel at these jobs. We want individuals who can deliver excellent service, paying attention to detail and capable of making strategic decisions," she explained.

Exploring the service aspect, Viviane Fortuño, president of CTI Consulting Group, called for the development of a more service-oriented mindset across all industries, including hospitality and healthcare. "Regardless of industry, the purpose of service is to create good experiences for clients. This requires people skills and a service mindset," Fortuño explained. She pointed out how positions from receptionists to restaurant managers thrive on creating unique customer experiences.

Technological adeptness has also become increasingly important. The COVID-19 pandemic accelerated Puerto Rico’s adjustment to technology, transforming how human resources approach talent acquisition. Rivera-Roena indicated the emphasis on tech skills: "We now have to look at how well the talent we seek works with technology. Approximately 45% to 47% of the job vacancies we filled this year apply to technology." Notably, she mentioned the growing need for software developers, cybersecurity experts, and e-learning specialists, among others, as the economy shifts toward more tech-driven operations.

The US Department of Energy has also stepped up its support for Puerto Rico's infrastructure, recently committing $584.5 million to Convergent Energy and Power for solar-plus-storage systems across the island. Frank Genova, CFO and co-founder of Convergent, commented on the significance of this initiative: "Enhancing grid reliability and sustainability in Puerto Rico is critically important. We applaud the Department of Energy for recognizing our expertise through this conditional commitment." The projects aim to bolster Puerto Rico’s goal of achieving 100% clean energy resources by 2050.

To meet rising demands for these occupations, education will play a key role. Fortuño highlighted the need for schools to adapt their curricula to align with job market demands. “Education has to play an important role. Schools need to evaluate their curricula because, right now, they’re not aligned,” she asserted. The trend indicates many students are opting for shorter career paths. Rivera-Roena observed, "Short careers are gaining momentum because this is what the current generation wants. They want to complete their studies quickly because they want execution. Occupations in air conditioning, plumbing, and nursing are just as important as those requiring long-term education."

This shift toward practical educational paths echoes what high school juniors and seniors have voiced, with many citing financial constraints and uncertainty about future studies as reasons for their decisions. Rivera-Roena noted, "Many — I would say 60% — said they don’t plan to go to college because of lack of money for tuition, because they need to work to help at home, or because they don’t know what they want to study or what they want to do."

With this backdrop of economic initiatives reforming Puerto Rico’s job market, there’s hope for the future. The uprise of service-oriented industries and the substantial investments to modernize energy infrastructure underline the potential for growth. Rivera-Roena concluded optimistically, stating, "We have all the foundational elements for thriving industries. It’s now about aligning education and skilling opportunities to meet these demands effectively."

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