Economic Impact
For the first time ever, an in-depth study of our industry was undertaken to better understand its reach and positive impact on the economic development of the island. The report titled, “Economic Impact of the Agricultural Biotechnology Sector”, conducted by Estudios Técnicos, Inc, is a comprehensive review that highlights our industry’s crucial role in furthering Puerto Rico’s socioeconomic development, including significant economic activity, job creation, and community empowerment.
Among the study’s key findings:
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$80.2 million: Amount PRABIA-member companies contributed to the local economy in 2016
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$134.9 million: Volume of economic activity that benefits the island
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$5.36: ROI of every dollar given to PRABIA-member companies via incentives
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85%: Volume of seeds used for biotech agriculture worldwide that go through Puerto Rico
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$2.0 million: Financial commitment of PRABIA-member companies to fund humanitarian efforts in the wake of hurricanes Irma and María
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124,600: Number of people who benefitted from said efforts
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#1: Our industry is the first employer in the southern part of the Island and the top employer of agronomists and related scientists
Building on the study’s findings, PRABIA strengthens its commitment to Puerto Rico’s development, community improvement, and contributing to a better quality of life for all through sustainable and transparent business operations.
Total UPRM Agronomists Hired by AgBio Companies per Year
