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The province of Córdoba delivered the benefit to SMEs that invested in physical assets and innovation. 210 firms received industrial promotion.
Governor Juan Schiaretti led the act of handing over the resolutions that certify the benefit of the Industrial Promotion to 15 industrial companies in Córdoba, mostly SMEs . They totaled 292 million pesos, mainly in physical assets and innovation.
The measure includes tax exemptions on gross income taxes, Real estate and Stamps for the term of 10 years (in general). In the case of SMEs, also access subsidies for incorporation of labor and consumption of electricity (for five years), depending on the investment project.
Between December 2015 and last October, the Province delivered 210 industrial promotions. The companies included in the period made investments of 3,068.4 million pesos, concentrating 39.5 percent in the city and 60.5 percent in the interior.
To your turn, the Minister of Industry and Trade, Roberto Avalle, stressed that the 82 percent of the companies benefiting are SMEs. “What ratifies the profile production of the province”. In addition, he stressed that 62 percent of the projects reached are linked to the innovation. “This marks the vocation of industrial entrepreneurs of Cordoba to go ahead in innovation and in the development of new products”, Avalle added.
Other noteworthy fact is that about 50 percent of the firms benefiting are linked to the food sector. “This marks the predominant role of this sector in the industrial production of the province,” said the minister. While he considered that “in the next years there will be more transformation of that raw material into products ready for human consumption, animal consumption or intermediate goods'.
The Industrial Promotion Scheme covers the laws 9727 and 5,319. With this, the Government of Cordoba promotes the development, competitiveness and innovation of the industrial activity, for which it grants tax benefits and economic subsidies.
SOURCE: Point to Point
Publication Date: 25/11/2019
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