BUSINESS IN SHORT

Government supports initiative to create over 14,000 jobs

A TOTAL of 14,460 new jobs should be created in the next few months as part of three European Union-funded projects designed to boost youth employment. Based on an agreement between Slovakia and the European Commission, the government will divide €70 million among jobs in the transport and small and medium-sized enterprise sectors, as well as community-based jobs in municipalities, the TASR newswire reported.

A TOTAL of 14,460 new jobs should be created in the next few months as part of three European Union-funded projects designed to boost youth employment. Based on an agreement between Slovakia and the European Commission, the government will divide €70 million among jobs in the transport and small and medium-sized enterprise sectors, as well as community-based jobs in municipalities, the TASR newswire reported.

“The biggest draw from the ministry’s point of view is that this investment is long-term,” said Labour Minister Ján Richter, as quoted by TASR.

The first project will put €10 million into training and employment for 2,000 people in the transport sector, where the jobs will last at least 30 months, according to Richter.

The state will also repay up to 95 percent of expenses to small and mid-sized companies that will participate in the second part of the project, only if they preserve the new positions for at least 18 months. The projects are worth a total of €40 million.

The third part of the project puts €20 million toward repaying the expenses of municipalities which also must keep new job positions open for at least 18 months, TASR wrote.

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