Commonwealth Oil Refining Company

[5] The economic impact in the region was felt immediately, with lower unemployment rate being registered and higher standard of living.

The refinery propelled related chemical industries to build in adjacent lands, and Phillips Puerto Rico, Peerless Petrochemicals, Caribbean Gulf Refining Co., and PPG Industries added large facilities next to CORCO, providing further employment in the region.

After operating under bankruptcy laws for several years, the ailing company finally shut down in March 1982, with "devastating" economic results for the region.

Today it functions as a terminal for the marine transportation and land-based storage of crude oil and petroleum products.

[citation needed] After the refinery ceased operations, an entity called Desarrollo Integral del Sur (South Integral Development) began developing a long-term plan for the reuse of the lands and properties in the area.