After three decades as a corporate sponsor, Captain Morgan rum has been ousted from the National Puerto Rican Day parade , because the company moved production from Puerto Rico to St. Croix. The U.S. Virgin Islands recently lured Captain Morgan and its parent company Diageo to St. Croix with a promise to share an anticipated $150 million in federal excise tax rebates on sales in the U.S. The move will cost Puerto Rico, where unemployment at 16%, about 3,000 jobs. “This parade is about pride and respect, and Captain Morgan has shown us neither,” parade Chairwoman Madelyn Lugo tells the Daily News .
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Captain Morgan Dismissed from Puerto Rican Day Parade