Texas Roadhouse to Open First Branch in Puerto Rico in 2023, With Three More Locations Underway
View of the bay of Yabucoa, eastern Puerto Rico, on September 29, 2017, where the fuel storage facility is located. US military and emergency relief teams ramped up their aid efforts for Puerto Rico amid growing criticism of the response to the hurricanes which ripped through the Caribbean island. HECTOR RETAMAL/AFP via Getty Images

The first Texas Roadhouse restaurant is underway in Puerto Rico, set to be located at the Outlets at Montehiedra, according to Urban Edge Properties' announcement.

The company noted that they aim to open the first branch of the eatery in mid-2023, with another three locations in coming years, according to a News is My Business report.

The Texas Roadhouse in the 6,400-square foot location will be employing 150 people and another 25 during the construction phase. However, the planned investment for the eatery was not revealed.

Paul Schiffer, senior vice president of leasing for Urban Edge, said that the lease at the Outlets at Montehiedra "is a terrific capstone" to a year of success for their investments in Puerto Rico.

Schiffer added that their vision for this market "is clearly validated" by bringing brands such as Arby's, Walgreens, and Global Mattress to Montehiedra and SectorSixty6 to Las Catalinas Mall in Caguas.

Texas Roadhouse

The restaurant started in Clarksville, Indiana on February 17, 1993, when Kent Taylor opened the very first Texas Roadhouse.

Taylor wanted to own not just a family restaurant and not just a steak restaurant, but a place where everyone could come and have a great meal and fun at an affordable price.

The popular restaurant chain joined Bubba's 33 in donating all their profits earned on February 7 to the American Tinnitus Association in honor of the company's late founder Taylor, according to a WTHR 13 News report.

A news release said that more than 26 million adults in the United States battle tinnitus, with the ATA helping people and families cope.

The organization also found research and advocates for better care of those with tinnitus.

Texas Roadhouse CEO and President Jerry Morgan said that the fundraiser is the perfect way to honor the life and vision of its founder.

Texas Roadhouse will also donate 10 percent of its online sales, while ATA co-branded gift cards. It will be available for purchase online.

Business in Puerto Rico

Puerto Rican economy is characterized by relevant manufacturing activity, with industry accounting for more than 50 percent of the gross domestic product in 2018.

Agriculture, on the other hand, generates less than one percent, according to a Biz Latin Hub news report.

Some of the key export goods produced in Puerto Rico include pharmaceuticals, medical equipment, computers, and computers.

Fish and rum are also among the list of its key export goods.

Puerto Rico has also seen a significant increase in interest from international investors over recent years. There was a rise in foreign direct investment, particularly from Canada, Germany, Mexico, and Spain.

Puerto Rico also offers a range of tax benefits that makes it enticing to investors, such as a four percent income tax rate, a 100 percent tax exemption on distributions from earnings and profits, and a 90 percent exemption from personal property taxes for some types of businesses.

The tax exemptions and benefits make many goods and services significantly cheaper than the ones in the United States.

This article is owned by Latin Post.

Written by: Mary Webber

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