Ironically, the devastation caused by Hurricanes Irma and Maria has opened a window of opportunity not just for recovery from the catastrophe and rebuilding a more resilient infrastructure, but also for sustainable economic development.  Recovery funding, especially when combined with funding from other federal programs, could provide the foundation to rebuild Puerto Rico in a more equitable and resilient fashion.  The history of how Puerto Rico takes advantage of this window of opportunity brought about by recent catastrophic events is been written in an unfolding present. 

 

The impact of federal funding designated through disaster relief and emergency assistance largely depends on the targeting of these funds to projects that rebuild a more resilient economic and social infrastructure.  Federal disaster recovery funds are just part of what is potentially available to rebuild Puerto Rico’s economy, infrastructure, and civic capacity.  Financing through available federal programs include a wide range of mechanisms, such as tax credits, the emission of bonds, loan guarantees, grants, and other incentives that, with a few notable exceptions, are currently underutilized in Puerto Rico.  These programs were successfully combined with recovery funding to restore economic development in other jurisdictions such as New Orleans after Hurricane Katrina or New York and New Jersey after Hurricane Sandy.  One important lesson from the recovery process in New Orleans and East Coast states affected by catastrophic hurricanes was the design of governing bodies that promoted broad participation and more equitable outcomes.

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— Rebuild Puerto Rico:  A Guide to Federal Policy and Advocacy.  Read the entire report here.

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