Xavier Romeu - Public Office

Public Office

Xavier Romeu chaired the HNBA Governmental Affairs Committee. In that capacity, in 1998, he:

• Led the national coalition that broke the Republican Senate’s hold on Judge Sonia Sotomayor’s nomination to the United States Court of Appeals for the Second Circuit

• Managed the passage of the Puerto Rico Self Determination Bill through the House of Representatives on March 4, 1998, the first time that a definition-based federal bill passed the House of Representatives;

• Managed the passage of a sense of the U.S. Senate resolution endorsing self determination for Puerto Rico; and

• Secured the extension and increase of the rum tax rebate to the U.S. Territory of Puerto Rico;

• Obtained extension of the research and development tax credit to Puerto Rico.

Mr. Romeu became Secretary of Commerce and Economic Development while also holding the position of Executive Director of the Puerto Rico Industrial Development Company (“PRIDCO”). He led PRIDCO to a 30-year high banner in the following key metrics for the Company:

• Job Commitments: 29,275

• Capital Investment: $835.3 million

• New Businesses: 254 (highest since 1977)

• New Payroll: $504.2 million

• Lowest Real Estate Vacancy Rate (in 7 years)

• Lowest Number of Business Closures since 1971.

Mr. Romeu also led passage through the U.S. Senate of the IRC Section 30A wage-based tax benefit for Puerto Rico. Under his stewardship, major initiatives included:

• The Puerto Rico Trans-Shipment Port

• The Puerto Silicon Barrio (Technology Incubator)

• Creation of the partnership infrastructure for the following Science and Technology Clusters:

-Health

-Biotechnology

-Pharma

-Manufacturing

-Electronics and IT

• New Strategy and Incentives for the Textile and Apparel Industries.

Mr. Romeu is currently a practicing attorney in New York City.