The Puerto Rico Department of Economic Development and Commerce was created by Governor Pedro Rosselló

Pedro Rosselló

Pedro Juan Rosselló González, M.D., , is a Puerto Rican physician and politician who served as the sixth Governor of the Commonwealth of Puerto Rico from 1993 to 2001...

 in 1994 as an "umbrella" under which several economic development agencies would operate in a more coordinated fashion. Its first Secretary was Luis Fortuño

Luis Fortuño

Luis Guillermo Fortuño Burset is the governor of the Commonwealth of Puerto Rico, a territory of the United States of America. Fortuño is also the president of the New Progressive Party of Puerto Rico , a member of the Republican National Committee, and will be president of the Council of State...

, 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

Puerto Rico Industrial Development Company

The Puerto Rico Industrial Development Company , along with the Puerto Rico Government Development Bank , was created by the government of Puerto Rico in 1942, during the administration of Governor Rexford G...

 (PRIDCO), the Puerto Rico Tourism Company

Puerto Rico Tourism Company

The Puerto Rico Tourism Company was created during Governor Luis A. Ferré's administration to coordinate the marketing and growth of Puerto Rico's tourism sector...

, the Puerto Rico Commerce and Export Company and several smaller agencies dealing with cooperatives and horse-racing.