NEW YORK - For the first time in its 60 year history, the Puerto Rican Day Parade will not be sponsored by Goya Foods.


In a statement, the company gave no other reason for pulling out than it was a "business decision."


They also say the move jeopardizes parade scholarships for more than a hundred college students.


Goya had sponsored the parade every year since the first one in 1958.


State Senator Ruben Diaz is calling on Goya to reconsider, though he says other sponsors like JetBlue are considering dropping their sponsorship as well.


The parade is set to march through Manhattan on June 11.