Puerto Rico Industrial Development Company

Puerto Rico Industrial Development Company

Agency overview
Formed	May 11, 1942; 82 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.com

The Puerto Rico Industrial Development Company (PRIDCO) —Spanish: Compañía 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.