45 million € to start new productive activities in Veneto; that’s what the Veneto Region is offering, which has just approved a law to encourage the establishment of new productive realities such as small and medium-sized enterprises, attract capital from other regions or abroad, simplify and streamline bureaucratic processes, and create networks with local supply chains.
A first step for a larger project that will be developed in the coming years to make our region more attractive, which already has a GDP of over 180 billion with 81 billion in exports (13% of total Italian exports) and 61 billion in imports (10.3% of the national figure). Veneto’s GDP per capita is €40,300 against a national average of €35,900 while productivity per employee is €76,300 against the national figure of €72,700.
Veneto has more than 418,000 active businesses: 9 percent of all Italian farms; 10.4 percent of industries; 8.1 percent of construction companies; 7.8 percent of service companies; and 9.6 percent of all active artisan businesses in Italy.
An important network, a solid base for those who want to invest in the Veneto. And for companies in the area the possibility of accessing new capital, networks and the strengthening of supply chains with investors from other regions or abroad: an opportunity to expand or innovate, but also to acquire new skills and know-how from abroad.
With this law, Veneto promotes the stipulation of ‘Agreements for settlement and development that aim to create new productive settlements of companies, aggregations of companies or expansion of existing settlements, giving priority to the implementation of programs of productive re-conversion, promoting investment, research and innovation, consolidation of investors in the regional territory, and thus bringing a significant impact on employment.
The agreements will be managed by Veneto Innovazione, an in-house company of the region, while the regional government will support the interventions through facilitations to companies, such as forms of subsidized financing, interest-rate or equipment subsidies, or even reduction of IRAP rates by one point for the five years after the signing of the Agreement and the following two years. In addition, in order to make our territory even more attractive to investors, the Region promises to simplify and standardize many administrative procedures, including entering into agreements with chambers of commerce, ANCI, or other administrations involved.
For all this to be possible, the Veneto Region has provided a financial allocation, calculable in 44 million euros from European funds of the ERDF PR 2021 – 2027 to which 1.5 million euros are added from regional funds.The text of the law leaves room for future funding to be modulated according to the European funds that will arrive in the coming years, or even according to regional availability, but also according to the practical needs of businesses.
