{"id":14276,"date":"2021-10-06T22:00:00","date_gmt":"2021-10-07T02:00:00","guid":{"rendered":"https:\/\/foundationforpuertorico.org\/?p=14276"},"modified":"2022-09-16T11:40:08","modified_gmt":"2022-09-16T15:40:08","slug":"foundation-for-puerto-rico-receives-award-in-economic-development","status":"publish","type":"post","link":"https:\/\/foundationforpuertorico.org\/en\/foundation-for-puerto-rico-receives-award-in-economic-development\/","title":{"rendered":"Foundation for Puerto Rico receives award in economic development"},"content":{"rendered":"\t\t
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Foundation for Puerto Rico receives award in economic development<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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October 6, 2021<\/a><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Foundation for Puerto Rico (FPR) was awarded <\/span><\/span>a <\/span><\/span>Gold Rank\u00a0<\/span><\/span>for its\u00a0<\/span><\/span>Bottom Up Destination Recovery Initiative<\/span><\/a>,\u00a0<\/span><\/span>a\u00a0<\/span><\/span>project in the category of\u00a0<\/span><\/span>Resiliency, Recovery and Mitigation\u00a0<\/span><\/span>of the International Economic Development Council<\/a> (IEDC). The honor was presented at an awards ceremony during the IEDC Annual Conference on October 2021.<\/span><\/span><\/p>

\u201cWe are honored to receive this recognition from the IEDC. What started with a group of 16 committed young professionals moving to\u00a0<\/span>Orocovis<\/span>\u00a0to support the recovery of small businesses and communities in the aftermath of Hurricane Maria, turned into a four-year effort across 14 municipalities in Puerto Rico, strengthening community resilience from an asset-based and bottom-up approach\u201d explained Alma Frontera, Vice President of Operations and Programs at Foundation for Puerto Rico.<\/span><\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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The Bottom Up Destination Recovery Initiative team on 2019.<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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IEDC’s Excellence in Economic Development Awards recognize the world’s best economic development programs and partnerships, marketing materials, and the year’s most influential leaders. Around 25 award categories honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities. Awards are judged by a diverse panel of economic and community developers, following a nomination process held earlier this year. IEDC received over 500 submissions from four countries.<\/span>\u00a0<\/span><\/p>

The first phase of the Bottom Up Destination Recovery Initiative\u2019s direct impact included resiliency training to over 600+ small businesses and over 61,000 hours of entrepreneurial education to start-ups. Through this process, hundreds of jobs have been retained or created, and 24 new business ideas incubated, providing unique tourism offerings that align with needs identified in each region including lodging, dining, arts & culture, and natural assets. In addition, more than 3,300 product donations were distributed. During the second phase, FPR worked to implement recommendations included in the destination plans co-developed with the community, which were completed by Streetsense<\/a>\u00a0with the support of local cultural non-profit Inversi\u00f3n Cultural<\/a>.<\/span>\u00a0<\/span><\/p>

Streetsense\u00a0CEO Brian\u00a0Taff\u00a0stated \u201cStreetsense\u00a0is honored to have co-developed the Destination Plans that are an important component of the\u00a0Bottom Up\u00a0Destination Recovery Initiative. The Plans ensure that the Foundation for Puerto Rico and the communities have a market-informed road map for investment that will create unprecedented opportunities for wealth creation and participation in the visitor economy by business owners and residents of Puerto Rico alike.\u201d<\/span>\u00a0<\/span><\/p>

FPR assigned more than $20K to revitalize one of Isabela\u2019s key assets, the\u00a0Guajataca\u00a0Tunnel<\/a>. In collaboration with the community, local government, and other NGOs, the initiative included the installation of wayfinding signage, solar lamps and recycling containers, cleaning of the areas, painting of murals, and set up for the gastro park. This effort has resulted in more economic activity in the area with 25 businesses establishing their operations in the reopened asset leveraging spending from new visitors. Close to 300 additional businesses are being evaluated for municipal permits to establish their businesses in the area.<\/span>\u00a0<\/span><\/p>

In\u00a0Camuy, as part of their destination plan analysis, the team identified the reopening of the Camuy River Cave Park as among the most critical strategies for growth in the visitor economy. Pre-hurricane, the caves welcomed more than 80k annual visitors, that represented an annual economic activity of between $600K and $1.4M. FPR was able to invest $125K to implement a range of improvements<\/a>, enabling the reopening of the adventure asset. This was possible thanks to a donation from the Peter Alfond Foundation and the collaboration of local key stakeholders. This effort has driven more than 17,000 visitors since March and has generated over $280K.<\/span>\u00a0<\/span><\/p>

The\u00a0Bottom Up\u00a0Destination Recovery Initiative is a long-term economic recovery strategy, funded in part by the U.S. Department of Commerce Economic Development Administration, aimed at addressing the impacts from Hurricane Maria through a community-led and consensus driven process.<\/span>\u00a0<\/span><\/p>

\u201cThe winners of IEDC\u2019s Excellence in Economic Development awards represent the best of economic development and exemplify the leadership that our profession strives for every day,\u201d said 2021 IEDC Board Chair and Invest Buffalo Niagara, President, and CEO Tom Kucharski.\u00a0\u201cWe\u2019re honored to recognize the more than 100 communities whose marketing submissions, projects, and partnerships have improved regional quality of life.\u201d<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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October 6, 2021 Foundation for Puerto Rico (FPR) was awarded a Gold Rank\u00a0for its\u00a0Bottom Up Destination Recovery Initiative,\u00a0a\u00a0project in the category of\u00a0Resiliency, Recovery and Mitigation\u00a0of the International Economic Development Council (IEDC). The honor was presented at an awards ceremony during the IEDC Annual Conference on October 2021. \u201cWe are honored to receive this recognition from […]<\/p>\n","protected":false},"author":15,"featured_media":22664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-14276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"yoast_head":"\nFoundation for Puerto Rico receives award in economic development - Foundation for Puerto Rico<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/foundationforpuertorico.org\/en\/foundation-for-puerto-rico-receives-award-in-economic-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foundation for Puerto Rico receives award in economic development\" \/>\n<meta property=\"og:description\" content=\"October 6, 2021 Foundation for Puerto Rico (FPR) was awarded a Gold Rank\u00a0for its\u00a0Bottom Up Destination Recovery Initiative,\u00a0a\u00a0project in the category of\u00a0Resiliency, Recovery and Mitigation\u00a0of the International Economic Development Council (IEDC). 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