▁operations . ▁ ▁For ▁dec ades , ▁PR ID CO ▁operated ▁as ▁a ▁subs idi ary ▁of ▁the ▁Puerto ▁Rico ▁Econom ic ▁Development ▁Administration ▁( PRE DA ); ▁the ▁ag ency ▁that ▁o vers aw ▁the ▁system atic ▁operation ▁which ▁transformed ▁the ▁economy ▁of ▁Puerto ▁Rico ▁from ▁an ▁agricult ural ▁economy ▁into ▁an ▁industrial ▁one ▁known ▁as ▁Operation ▁Bootstrap . ▁Bootstrap ▁was ▁the ▁brain child ▁of ▁P RE DA ' s ▁first ▁administrator , ▁Te od oro ▁Mos cos o . ▁Other ▁notable ▁industrial ists ▁served ▁in ▁P RE DA ▁as ▁well , ▁such ▁as ▁Hugo ▁David ▁St orer ▁T av are z ▁who ▁served ▁as ▁the ▁director ▁of ▁promotion ▁for ▁some ▁years , ▁and ▁William ▁R ief k ohl ▁who ▁served ▁as ▁its ▁deput y ▁administrator ▁from ▁ 1 9 8 8 ▁to ▁ 1 9 9 2 . ▁ ▁As ▁P RE DA ▁continued ▁to ▁transform ▁Puerto ▁Rico , ▁PR ID CO ▁eventually ▁became ▁an ▁independent ▁ag ency . ▁A ▁government ▁re organ ization ▁eventually ▁merged ▁P RE DA ▁into ▁PR ID CO , ▁establish ing ▁PR ID CO ▁as ▁the ▁foc al ▁ag ency ▁for ▁all ▁manufact uring ▁in ▁Puerto ▁Rico ▁while ▁P RE DA ▁ceased ▁to ▁exist . ▁ ▁Today , ▁PR ID CO ▁also ▁over se es ▁the ▁program ▁to ▁promote ▁Puerto ▁R ican ▁r ums ▁which ▁enjoy ▁cover - over ▁subs id ies ▁when ▁sold ▁in ▁the ▁United ▁States . ▁The ▁ag ency ▁is ▁also ▁now ▁under ▁the ▁um bre lla ▁of ▁the ▁Department ▁of ▁Econom ic