Juan Paulson Isn’t Giving Up On Puerto Rico

And Puerto Rico isn’t giving up on Juan Paulson: If he won’t/can’t move there, maybe he’ll move a few more of his dollars south.

The Paulson & Co. founder, estimated to be worth $11 billion, is headlining an invitation-only summit in San Juan, Puerto Rico, on Thursday to discuss two new tax laws that provide generous dividend and capital gains tax breaks for individuals willing to relocate their businesses to the tropical island, according to Puerto Rico officials….

Paulson has already invested $260 million this year to create two high-end luxury resorts in San Juan’s Condado district. That follows investments last year in the St. Regis Bahia Beach Resort and the Bahia Beach Resort & Gold Club.

The government expects Paulson to invest a total of $1 billion in Puerto Rico by 2015. Paulson’s firm had no comment.

Puerto Rico woos rich with hefty tax breaks [MarketWatch]

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