Traditionally the city's economy had depended almost entirely on the sugar cane industry. Since around the 1950s, however, the town's economy has diversified and today its economy revolves around a mixed-industry manufacturing sector, retail, and tourism. The building of a mega port, anticipated to be completed in 2012, is expected to add significantly to the area's economy. Agriculture, retail, and services are also significant players in the local economy. "It is an agricultural, trade, and distribution center. Industries include tourism, the processing of agricultural products, rum distilling, canning, and diamond cutting. Manufactures include textiles, shoes, cement, paper, electrical devices, and metal products." The city, though, suffers from an unemployment rate that hovers around the 15 percent mark.
Manufacturing
The municipality is considered one of the most developed municipalities in Puerto Rico. Its manufacturing sectors include electronic and electrical equipment, communications equipment, food processing, pharmaceutical drugs, concrete plants, and scientific instruments. It also produces leather products, needlework, and fish flour to a lesser extend. Ponce is home to the Serralles rum distillery, which manufactures Don Q, Captain Morgan, and Parrot Bay rums. It is also home to Industrias Vassallo, a leader in PVC manufacturing. Another important local manufacturer is Ponce Cement.
In the agricultural sector, the most important products are coffee, followed by plantains, bananas, oranges, and grapefruits. A mix of public and private services, as well as finance, retail sales, and construction round up Ponce's economic rhythm. Cafe Rico, which metamorphosed from coffee-grower Cafeteros de Puerto Rico, has its headquarters in Ponce.
Retail
For many years commercial retail activity in Ponce centered around what is now Paseo Atocha. This has shifted in recent years, and most retail activity today occurs in
