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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