BUSINESS IN SHORT

€8.9 million to support investments

SLOVAKIA provided over €8.9 million in investment stimuli to investors from the beginning of 2009 to May 25. In return, these companies should invest €47 million in Slovakia and create 258 new jobs. Of the various investment incentives, 46.4 percent were in the form of tax allowances, 20 percent were financial subsidies and 33.6 percent were contributions for newly-created jobs, the SITA newswire reported.

SLOVAKIA provided over €8.9 million in investment stimuli to investors from the beginning of 2009 to May 25. In return, these companies should invest €47 million in Slovakia and create 258 new jobs. Of the various investment incentives, 46.4 percent were in the form of tax allowances, 20 percent were financial subsidies and 33.6 percent were contributions for newly-created jobs, the SITA newswire reported.

Slovakia’s Economy Ministry also approved €1.741 million in subsidies for municipalities intended to cover costs related to development of industrial zones.

Last year the Slovak government earmarked more than €42.6 million for investment stimuli. Of this amount, 77.4 percent went towards tax allowances and 22.6 percent were contributions for newly-created jobs.

Those investors receiving state assistance last year were expected to create 2,200 jobs and invest nearly €390 million. The Economy Ministry also granted subsidies of about €30.4 million to municipalities last year.

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