The following is a copy of an article published on News is my Business on October 26, 2026. The full article can be found here

Grand Caribbean Marinas estimates it has invested about $50 million in rebuilding and upgrading its Puerto Rico facilities since hurricanes Irma and María in 2017.

The investment figure includes projects still underway. Giuseppe Cicatelli, the company’s founder and principal, said its six-marina network, concentrated around Fajardo, supports about 50 businesses and roughly 1,000 direct and indirect jobs.

He said the rebuilding effort was intended to expand opportunities for restaurants, charter operators, mechanics, fishermen and other businesses.

“Our purpose was not just to rebuild or patch things up,” Cicatelli said. “The idea from the beginning was to develop the nautical economy.”

Those businesses are part of the blue economy, or economic activity tied to coastal and marine resources.

The network includes Marina Puerto Chico, Isleta Marina, Sea Lovers Marina, Marina Sardinera, Renaissance Villa Marina and Bluecoast. The company added Isleta Marina and Blue Coast Boat Park in 2022, as News is my Business previously reported.

Docks and storm protection

Cicatelli said damaged wooden docks were replaced with floating concrete structures designed for Category 4 and Category 5 hurricane conditions. The docks can rise and fall with changing water levels, he said.

At Marina Puerto Chico, the company is installing a floating wave attenuator, a structure intended to reduce wave action and protect boats and docks. The project is being developed with Puerto Rico’s Department of Natural and Environmental Resources and the U.S. Fish and Wildlife Service, as News is my Business reported in September.

The marina was awarded approximately $1.14 million through the federal Boating Infrastructure Grant program for its expansion for visiting boaters.

At Renaissance Villa Marina, the company operates a covered dry-stack facility, where boats are stored on racks rather than in the water. Cicatelli described it as the only facility of its kind in Puerto Rico and said an expansion was planned.

“We wanted to be ready for the next hurricane, not only from an infrastructure standpoint, but also from a business and economic standpoint,” he said.

Businesses and boating activity

The network supports eight restaurants, about 12 mechanics and more than 30 charter operators, according to Cicatelli.

He said there were three charter businesses in the company’s marina network when he arrived in Puerto Rico about 14 years ago. Operators now offer excursions to Palomino Island, nearby cays and Culebra.

Cicatelli estimates that boating activity throughout the network has grown about 15% annually since 2021. He said the economic benefits of rebuilding became apparent in 2021 and 2022, as activity recovered from the pandemic.

“The more mechanics, restaurants, stores and economic activity you have, the more attractive boating becomes,” he said.

The employment estimate includes dockmasters, customer service and maintenance workers, accountants, charter crews, restaurant employees and mechanics.

The company also works with the Asociación de Pescadores de Sardinera (Sardinera Fishermen’s Association) to accommodate commercial fishing alongside recreational boating. At Marina Sardinera, Grand Caribbean Marinas recently renovated a boat ramp used by local fishermen, Cicatelli said.

“The idea is to create an ecosystem where all stakeholders coexist and strengthen one another,” he said.

He added that conserving coastal resources was essential to the businesses and communities that depend on them.

Permitting challenges

Cicatelli identified government permitting delays as an obstacle to further development.

“The problem with public agencies is that they operate at different speeds and rhythms than the business ecosystem,” he said.

He cited positive experiences with municipal and tourism-related agencies but called for faster permits for resilience projects, shared funding for coastal protection and incentives for marine tourism.