The Puerto Rico Industrial Development Company (PRIDCO), along with the Puerto Rico Government Development Bank (GDB), was created by the government of Puerto Rico in 1942, during the administration of Governor Rexford G. Tugwell, to finance the construction and manage the operation of industrial parks where stateside manufacturing companies could find low-rent venues for their operations. For decades, it operated in tandem with the Puerto Rico Economic Development Administration, known as "Fomento" in Spanish. As a result of recent reorganizations, Fomento has been merged into PRIDCO.
PRIDCO also oversees the program to promote Rums of Puerto Rico and is part of the Puerto Rico Department of Economic Development and Commerce umbrella.
From 2001 till 2002 William Riefkohl was the Executive Director of the company.[1]