Sides to work to help businesses from island grow locally
The City of Kissimmee has signed and approve an agreement with a Puerto Rican non-profit to bolster economic and commercial ties between the city and the island.
Centro Unido de Detallistas Puerto Rico (CUD), a nonprofit organization recognized as the premier organization representing the retail and commercial sector in Puerto Rico, entered into that Memorandum of Understanding last week when they signed the pact, and the City Commission formally adopted it as part of the consent agenda at its March 3 meeting.
The agreement states CUD and the city will work collectively to support business engagement, retail recruitment, market-entry assistance, and the sharing of resources to help entrepreneurs and local businesses grow.
“We are focused on attracting diverse retail businesses, supporting entrepreneurs, and strengthening our commercial corridors and downtown districts,” said Mayor Jackie Espinosa. “Those priorities align naturally with CUD’s mission to help Puerto Rican businesses grow and expand into new markets.”
With both the city and CUD President Dr. Ramón C. Barquín III recognizing that Kissimmee serves as a significant hub for Puerto Ricans in the state, region and continental United States, city officials say the partnership aims to leverage that “unique market environment” to attract Puerto Rican retailers and brands seeking to establish a presence within the mainland U.S. economy.
The primary focus of this collaboration is to facilitate development opportunities for entrepreneurs within the region, and to strengthen business growth and competitiveness.
“Kissimmee has become a natural point of convergence for the Puerto Rican diaspora,” Barquín said at the Feb. 25 signing. “This collaboration formalizes a historic relationship that now translates into concrete opportunities for merchants, entrepreneurs, and families on both sides.”
Goals and objectives laid out by the two sides noted in the MOU signed include identifying and sharing information on potential business opportunities in Kissimmee that align with the goals of Puerto Rican entrepreneurs, sharing market research, legal requirements, and regulatory changes and holding joint seminars, workshops, and networking sessions to connect entrepreneurs with local business leaders and partners.
Leaders like Espinosa and Barquin said the hope is to create a support system for local small business, whether they start here or migrate from Puerto Rico, that can revitalize commercial corridors in both locations.
