BUSINESS IN SHORT

Honeywell investment takes shape

PREŠOV City Council approved a draft intention to sell land in the Záborské Investment Industrial Park to US company Honeywell Turbo on March 30. The draft declares the city’s intention to sell 5 hectares of land to Honeywell at a price of €30 per square metre, the TASR newswire reported.

PREŠOV City Council approved a draft intention to sell land in the Záborské Investment Industrial Park to US company Honeywell Turbo on March 30. The draft declares the city’s intention to sell 5 hectares of land to Honeywell at a price of €30 per square metre, the TASR newswire reported.

“I appreciate that the deputies, although they had certain reservations, voted for this material,” Prešov’s Mayor Pavel Hagyari told TASR. “It shows that the deputies are responsible and that they want to solve the problem of unemployment, which in our region is most acute.”

On the same day, the cabinet approved €19 million for Honeywell in investment stimuli from the state. A total of €11.5 million is to be spent on the purchase of long-term tangible and intangible assets, more than €7 million in contributions for new jobs and nearly €600,000 in the form of tax allowances. Based on a draft proposal for stimuli provision which the cabinet passed March 30, the requested incentives per employee will reach nearly €43,000, the SITA newswire reported.

Honeywell is planning to build a plant to make turbochargers for cars and trucks. Its estimated costs are forecast to be around €38 million and the investment should create about 446 jobs, with the average salary expected to be around €1,300. More jobs are expected to be created indirectly because of the Honeywell investment.


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