The same government that destroyed Puerto Rico’s economy and the domestic pharmaceutical industry by repealing Section 936 in 2006 is now going to tell you what heroes they are by reviving that industry. It might be easier said than done.
From 1976 after Section 936 enactment through 2006, the pharmaceutical industry, as well as some technology segments, found a friendly home in Puerto Rico. There was an abundance of labor and a tax plan that encouraged investment. To be clear, the tax incentives offered were significant and companies took every advantage, as companies typically will. Better management of the criteria surrounding the tax breaks could well have saved 936 but that is hindsight.