The Puerto Rico Department of Economic Development and Commerce was created by Governor Pedro Rosselló in 1994 as an "umbrella" under which several economic development agencies would operate in a more coordinated fashion. Its first Secretary was Luis Fortuño, who appointed its current head, José Pérez Riera, after being elected Governor in 2008.
Among the agencies under its jurisdiction is the Puerto Rico Industrial Development Company (PRIDCO), the Puerto Rico Tourism Company, the Puerto Rico Commerce and Export Company and several smaller agencies dealing with cooperatives and horse-racing.