The Fortuño administration has harped consistently that it needs the private sector to help Puerto Rico get its economy rolling, and if it can attract investors on a global scale, so much the better. But are big investors being heard when they come knocking on Puerto Rico’s business door?

No, according to a case that has come to the attention of the Daily Sun.

It turns out the deadline for a large U.S. company is up this week for a proposed jet facility on the island. Yet, there is no feedback in sight regarding whether the government is at all interested in the proposal.

The corporation thinks this procrastination could mean Puerto Rico will be losing $6 billion in investments and that some 2,000 related jobs will go down the chute.

The encroaching deadline means that the firm, RGIV Limited, might be forced to choose another location in the Caribbean or the U.S. When fully established, the facility could employ some 2,000 aerospace-related workers with higher than average entry-level salaries — possibly in the $35,000-$45,000 range, according to the corporate proposal.

RGIV Limited, based in Houston, Texas, proposes to place the jet facility in the contiguous United States, Puerto Rico, the U.S. Virgin Islands or another Caribbean country seriously willing to become a true strategic partner by putting real money into real a manufacturing industry, thus creating real opportunities and driving real economic growth.

The goal is for the Federal Aviation Administration to have direct authority over the manufacturing and flight certification processes related to the aircraft being delivered, with the first test flights of the new series of the jets being carried out not later than January 2012 — or approximately 24 months from funding — a deadline that is now threatened by delays in achieving formal negotiations with Puerto Rico leaders. 

The key step now is for Gov. Fortuño to become actively involved and engaged in the process before another opportunity passes Puerto Rico by, the firm has stated. 

RGIV Limited is also saying the corporation has been approached by other potential sites and must come to a decision soon.

At present, the company has decided its planes will be flying in 2012 from the Caribbean, provided the funding and contractual terms are established in a timely fashion.

The proposed plan is for the company to use Puerto Rico as a platform to foster new airlines and expand existing ones to serve new routes in and out of the Caribbean.  

So, we urge the administration to give this proposal a timely and serious inspection and to make a decision, one way or the other. Time is running out.