aug 1, 1947 - OPERATION BOOTSTRAP

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Operation Bootstrap
Between 1947 and 1951 government development of industry gave way to promotion of private investment. The new approach was called “Operation Bootstrap.” A forerunner of the economic development strategies implemented throughout the world later, the idea was to
industrialize the island by luring foreign, mainly
American, companies to Puerto Rico with the promise of low wages and tax incentives. The tourism industry was also developed at this time. Puerto Rico began its industrialization thrust and its clear incorporation into an emerging global economy.
During this period Puerto Rico improved in many areas (e.g., education, housing, drinking water, electrification, sewage systems, roads and transportation facilities). Residents of Puerto Rico felt a clear and present sense of development and progress and, for some, a more equitable income distribution.
The industry that was attracted, however, did not provide sufficient jobs. With increased population growth and displacement from traditional labor pursuits, the growing population could not be accommodated. Much of the surplus labor migrated to the United States.

https://americansall.org/sites/default/files/resources/pdf/ethnic-and-cultural/9.9_Puerto_Ricans_Immigrants_and_Migrants.pdf
https://americansall.org/sites/default/files/resources/pdf/ethnic-and-cultural/9.9_Puerto_Ricans_Immigrants_and_Migrants.pdf

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