The government-owned corporations of Puerto Rico —or public corporations (Spanish: corporaciones públicas)— are a set of corporate entities owned entirely or in large part by the executive branch of the government of Puerto Rico or by its municipalities. The corporations engage in commercial activities with their revenues ultimately being allocated towards the government's treasury —the Puerto Rico Consolidated Fund— or towards the corresponding municipal treasury. Some of them have been criticized since their creation since they are not profitable and depend on the issue of bonds or large indebtedness to operate,[1] or because they constitute a government monopoly or control a unique asset (such as a port, toll, or land).

As of 2015, the public corporations contributed to more than half of the public debt of Puerto Rico[citation needed] —a factor that contributed significantly to the Puerto Rican government-debt crisis[original research?] — with COFINA, PRASA, PRHTA, and PREPA being the largest holders.

Owned by the executive branch

This section lacks an overview of its topic. You can help by writing the lead section. (November 2012)

As of November 2012, the executive branch of the government of Puerto Rico owned 52 government-owned corporations with an outstanding debt of $48.7B USD.[1][2][3][4][5]

Name in English Abbreviation in English Name in Spanish Abbreviation in Spanish Industry
Automobile Accident Compensation Administration PRAACA Administración de Compensaciones por Accidentes de Automóviles ACAA Insurance
Agricultural Insurance Corporation PRAIC Corporación de Seguros Agrícolas CSA Agriculture
Aqueducts and Sewers Authority PRASA Autoridad de Acueductos y Alcantarillados AAA Public utility
Authority for the Financing of Industrial, Touristic, Educative, Medical, and Environmental Control Facilities AFITEMECF Autoridad para el Financiamiento de Facilidades Industriales, Turísticas, Educativas, Médicas y de Control Ambiental AFICA Banking
Authority for the Financing of Housing PRAFH Autoridad para el Financiamiento de la Vivienda AFV Banking
Authority for the Financing of the Infrastructure of Puerto Rico AFI Autoridad para el Financiamiento de la Infraestructura de Puerto Rico AFI Banking
Caño Martín Peña ENLACE Project Corporation ENLACE Corporación del Proyecto ENLACE del Caño Martín Peña ENLACE Real estate
Cardiovascular Center of Puerto Rico and the Caribbean Corporation CCPRCC Corporación del Centro Cardiovascular de Puerto Rico y el Caribe CCCPRC Healthcare
Commission on Traffic Safety PRCTS Comisión para la Seguridad en el Tránsito CST Insurance
Comprehensive Cancer Center PRCCC Centro Comprensivo de Cáncer CCCPR Healthcare
Conservatory of Music Corporation PRCMC Corporación del Conservatorio de Música CCM Education
Convention Center District Authority PRCCDA Autoridad del Distrito del Centro de Convenciones ADCCPR Travel and leisure
Corporation for the Development of Arts, Sciences, and Cinematographic Industry PRFILM Corporación para el Desarrollo de las Artes, Ciencias e Industria Cinematográfica PRFILM Entertainment
Corporation of Industries for the Blind, Mentally Retarded People, and Other Handicapped People CIRIO Corporación de Industrias de Ciegos, Personas Mentalmente Retardadas y Otras Personas Incapacitadas CIRIO Industrial development
Credit Unions Supervision and Insurance Corporation PRCUSIC Corporación para la Supervisión y Seguros de Cooperativas de Puerto Rico COSSEC Insurance
Economic Development Bank EDB Banco de Desarrollo Económico BDE Banking
Electric Power Authority PREPA Autoridad de Energía Electrica AEE Public utility
Government Development Bank GDB Banco Gubernamental de Fomento BGF Banking
Health Insurance Administration PRHIA Administración de Seguros de Salud ASES Healthcare
Highways and Transportation Authority PRHTA Autoridad de Carreteras y Transportación ACT Transportation
Industrial Development Company PRIDCO Compañía de Fomento Industrial FOMENTO Industrial development
Integral Development for the Cantera Peninsula Company PRIDCPC Compañía para el Desarrollo Integral de la Península de Cantera CDIPC Industrial development
Institute of Puerto Rican Culture IPRC Instituto de Cultura Puertorriqueña ICP Entertainment
Lands Administration PRLA Administración de Terrenos AT Real estate
Lands Authority PRLA Autoridad de Tierras ATPR Agriculture
Maritime Transport Authority PRMTA Autoridad de Transporte Marítimo ATM Transportation
Medical Services Administration PRMSA Administración de Servicios Médicos de Puerto Rico ASEM Healthcare
Metropolitan Bus Authority MBA Autoridad Metropolitana de Autobuses AMA Transportation
Municipal Financing Agency MFA Agencia de Financiamiento Municipal AFM Banking
Municipal Financing Corporation MFC Corporación de Financiamiento Municipal COFIM Banking
Musical Arts Corporation PRMAC Corporación para las Artes Musicales CAM Entertainment
Musical Scenic Arts Corporation PRMSAC Corporación de las Artes Escénico-Musicales CASM Entertainment
National Guard Institutional Trust PRNGIT Fideicomiso Institucional de la Guardia Nacional de Puerto Rico FIGNA Banking
National Parks Company PRNPC Compañía de Parques Nacionales CPNPR Real estate
Performing Arts Center Corporation PRPACC Corporación del Centro de Bellas Artes CBA Entertainment
Ports Authority PRPA Autoridad de los Puertos APPR Transportation
Public Broadcasting Corporation PRPBC Corporación para la Difusión Pública WIPR Entertainment
Public Buildings Authority PBA Autoridad de Edificios Públicos AEP Real estate
Sales Tax Financing Corporation COFINA Corporación del Fondo de Interés Apremiante COFINA Banking
School of Visual Arts and Design of Puerto Rico SVAD Escuela de Artes Plásticas y Diseño de Puerto Rico EAPD Education
Solid Waste Authority SWA Autoridad de Desperdicios Sólidos ADS Public utility
State Insurance Fund Corporation PRSIFC Corporación del Fondo del Seguro del Estado CFSE Insurance
Symphony Orchestra Corporation PRSO Corporación de la Orquesta Sinfónica COSPR Entertainment
Trade and Export Company PRTEC Compañía de Comercio y Exportación CCE Industrial development
Tourism Company Tourism Compañía de Turismo Turismo Travel and leisure
Training and Work Enterprises Corporation PRTWEC Corporación de Empresas de Adiestramiento y Trabajo CEAT Education
University of Puerto Rico UPR Universidad de Puerto Rico UPR Education

Owned by municipalities

Main article: Rafael Cordero Santiago Port of the Americas
Name in English Abbreviation in English Name in Spanish Abbreviation in Spanish Industry
Ponce Port Authority[6][7] PPA Autoridad del Puerto de Ponce APP Transportation

References

  1. ^ a b Méndez, Jesús; Chevres, Jaysel (2011), Comprehensive Annual Financial Report Year Ended June 30, 2011 (PDF), Department of Treasury of Puerto Rico, pp. 71–83, retrieved 25 November 2012
  2. ^ "Directorio de Agencias" (in Spanish). Government of Puerto Rico. Retrieved December 28, 2012.
  3. ^ "Estructura Funcional del Gobierno de Puerto Rico" (PDF) (in Spanish). Puerto Rico Office of Management and Budget. Retrieved December 28, 2012.
  4. ^ Marxuach, Sergio (February 11, 2013). "Repensando la AEE" (in Spanish). Center for the New Economy. Retrieved February 13, 2013. Realidad de Hoy: 51 corporaciones públicas, $42,000 millones en deuda[…]
  5. ^ (in Spanish). Government of Puerto Rico http://www.gdb-pur.com/economy/documents/AE2013_T29.pdf. Retrieved February 25, 2015. ((cite web)): Missing or empty |title= (help)
  6. ^ "Sin cabeza el Puerto de Las Américas". La Perla del Sur (in Spanish). December 6, 2012. Paragraph 10. Retrieved December 30, 2012. Actualmente, la APA es titular de la mayoría de los activos del Puerto de Las Américas[ ... ]
  7. ^ Esperan al nuevo gobernador con reclamos para la región sur. Jason Rodríguez Grafal. Ponce, Puerto Rico: La Perla del Sur. (Year 36. Issue 1861. 31 July to 6 August 2019. Page 4.) 31 July 2019. Accessed 31 July 2019.

See also

Categories