Guaynabo
Puerto Rico's first European settlement (Caparra, 1508) was abandoned for San Juan, but 500 years later Guaynabo hosts Microsoft, Chrysler, and Univision headquarters. Median income exceeds territorial median by $19,000. By 2026, Law 60 incentives will attract more corporate relocations.
Guaynabo occupies the site of Puerto Rico's first European settlement—Caparra, founded in 1508 by Juan Ponce de León—yet spent centuries overshadowed by San Juan before emerging as the island's corporate headquarters hub, demonstrating how initial location advantages can take 500 years to fully develop.
Ponce de León established Caparra in 1508 on land that is now part of Guaynabo, serving as Puerto Rico's first Spanish governor from this settlement. But the site proved problematic—mosquitoes, swampy conditions, and difficult harbor access led colonists to abandon Caparra in 1521 for the superior port at what became San Juan. The ruins of Caparra remain as an archaeological site, a reminder of paths not taken. Guaynabo itself was founded in 1723 and elevated to municipal status in 1769, separating from Río Piedras. In 1875, the municipality was dissolved entirely, its territory divided between Bayamón and Río Piedras—administrative death. Only in 1912 did Guaynabo regain municipal status, beginning its modern trajectory.
The 20th century transformed Guaynabo from rural municipality to suburban corporate center. Its position west of San Juan and east of Bayamón, with proximity to the capital without its congestion, attracted corporations seeking Puerto Rican headquarters. Today El Nuevo Día (the island's major newspaper), Chrysler, Santander Securities, Puerto Rico Telephone, Microsoft, Toshiba, Puma Energy, Total, WAPA-TV, and Univision Puerto Rico all maintain headquarters or major offices in Guaynabo. This corporate concentration creates a median household income of $46,048—substantially exceeding Puerto Rico's territorial median.
The municipality's 89,780 residents (2020 census) occupy 27.13 square miles of increasingly developed land. Historically a New Progressive Party stronghold advocating statehood, Guaynabo reflects the political preferences of its professional class. Hurricane Maria (2017) damaged infrastructure, but the corporate tax base enabled faster recovery than rural municipalities. The San Juan-Caguas metropolitan area—which includes Guaynabo—represents 75% of Puerto Rico's economy.
By 2026, Guaynabo will continue absorbing corporate relocations and professional residents as Puerto Rico's tax incentive programs under Law 60-2019 attract mainland businesses—the first settlement's location advantage finally paying dividends five centuries later.