Study: Post-Maria contracts go to mainland, not Puerto Rico
ASTUDY published last Wednesday found that the bulk of federal funds slated for post-hurricane reconstruction efforts in Puerto Rico are going to mainland companies despite a federal provision that states that local companies should receive priority.
Of the nearly US$5 billion allocated by the United States government by late August for work in Puerto Rico, nearly US$4.3 billion has been awarded to mainland US firms and less than 10 per cent to Puerto Rico companies, according to the study by the Center for a New Economy. The Puerto Ricobased think tank analysed a federal database of contracts awarded through late August after Hurricane Maria hit the US territory.
The study also found that of the 45 federal agencies that have awarded contracts after the storm, 24 of them did not give any to Puerto Rican firms.
The findings have raised concerns that Puerto Rico will not see the expected economic boost a year after the Category 4 storm hit and as the island is struggling to emerge from a 12year recession.
“This popular notion that hurricanes and federal funds are going to lift the economy is not producing the results we’re waiting for,” said Deepak Lamba-Nieves, co-author of the study and the centre’s investigations director.
Most federal funds are going towards construction, followed by services including engineering, inspection and remediation, which have largely been awarded to USbased firms. Meanwhile, local firms have been contracted for jobs including waste collection, security, and roofing, he said.
The study also found that the federal government spent almost US$12 billion in the first 336 days after Hurricane Katrina, more than double what has been spent so far in postMaria contracts in Puerto Rico. Raul Santiago, co-author of the study and the centre’s research associate, noted that Katrina caused an estimated US$160 billion in damage, compared with the US$140 billion that Puerto Rico’s government is requesting after Maria.
He said that current contracts could be amended to include more Puerto Rico companies.
A spokeswoman for the US Federal Emergency Management Agency declined immediate comment, saying officials had not yet obtained a copy of the study.
Meanwhile, an analysis that Moody’s Analytics published on Wednesday estimates that Puerto
Never blind-copy the recipient. It is the No. 1 mistake that quickly lets sponsors know that they are not special, but one of several persons receiving the proposal. It also makes you look lazy. Take the time to personalise the email to the intended recipient or risk it never being opened at all.
Don’t omit the expected return on investment, ROI. It is critical to outline the ROI, particularly in measurable terms. Most commitments come down to bodies or eyeballs, which translates into present or future sales
IRico’s economy will rebound through early 2019 but then “come off its disaster reliefinduced sugar high in 2020”. The analysis assumes that at least US$62 billion in overall disaster relief will be spent in Puerto Rico in the next decade.
“Puerto Rico’s economy is in for a rollercoaster ride over the next couple of years,” the report stated. “How steep and dizzying the ride turns out to be will depend on the fiscal boost the island receives.” and brand awareness. In order to speak convincingly to your ability to deliver, without an existing track record, you can include your social media and mailing list statistics – such as volume and engagement level – market size and appetite for what you are offering, and promotions budget.
If you have a track record, you can rely heavily on highlights from previous executions to prove your ability to get the job done.
Don’t hound your prospective sponsor for a response. Follow up with a phone call no sooner than two business days later. Never call on the weekend or after business hours. If you harass them for an answer, you are likely to get a no.
One love!
Yaneek Page is an entrepreneur and trainer and creator-executive producer of The Innovators TV series. Email: info@yaneekpage.com Twitter: @yaneekpage Website: www.yaneekpage.com