Economy Ministry to request state support for Honeywell investment

Economy Minister Juraj Miškov has officially confirmed the intention of Honeywell International Inc. to invest €38.31 million in Slovakia.

Economy Minister Juraj Miškov has officially confirmed the intention of Honeywell International Inc. to invest €38.31 million in Slovakia.

On March 14, Miškov announced the US company’s plan to open a new plant in the Prešov - Záborské industrial park, where it will produce turbochargers designed for car and truck engines and which will create 446 new jobs.

In support of this endeavour, the Economy Ministry will file an application for investment help in Honeywell’s name.

“At the request of the investor, the Slovak government will assess the proposal and decide on the specific request of investment help for this project,” the Economy Ministry informed the TASR newswire.

The Economy Ministry said the applicant fulfilled all required criteria of Slovak and EU legislation. The investment aid would take the forms of direct financial help through subsidies when procuring the material and non-material investment property, through contributions for creating new jobs, and through indirect help – an income tax allowance on the condition that maximum-intensity aid effective for eastern Slovakia is fulfilled.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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