MANUFACTURING EXPANSION IN THE PIPELINE
A major manufacturing expansion will
be announced in the coming weeks, a
CARIBBEAN BUSINESS source said. While
the administration's decision to slap an excise tax
on offshore affiliates of local manufacturing firms
was heavily criticized, most of the firms have
been able to take a credit on their federal taxes
for the additional tax they paid. "Manufacturers
are doing well, and in some cases are expanding.
There will be a big expansion announced in the
near future," the source said.