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Awarded industrial promotion to 15 SMEs

The Province of Córdoba delivered the profit to SMEs that allocated investments in physical assets and innovation. 210 firms received industrial promotion.

Business and Enterprises
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Governor  Juan Schiaretti  led the act of delivery of the resolutions proving the benefit of the Industrial Promotion to  15 industrial companies in Córdoba, mostly SMEs  . They totaled investments of  292 million pesos , mainly in physical assets and innovation.

The measure covers tax exemptions in Gross Revenue, Real Estate and Stamp taxes for the term of 10 years (generally). In the case of SMEs, they also have access to  subsidies for the incorporation of labour  and electricity consumption (for five years), depending on the investment project.

Between December 2015 and last October, the Province delivered  210 industrial promotions . Companies included in the period made investments of 3,068.4 million pesos, with 39.5 per cent concentrated in the city and 60.5 per cent in the interior.

The productive profile of the province

In turn, the Minister of Industry and Commerce, Roberto Avalle, stressed that 82 percent of the companies benefited are SMEs. “Which ratifies the production profile of the province.” He also stressed that 62 per cent of the projects achieved are linked to  innovation . “This marks the vocation of industrial entrepreneurs in Córdoba to move forward in innovation and the development of new products,” Avalle added.

Another noteworthy fact is that about 50 percent of the beneficiaries are linked to the  food category . “This marks the dominant role of this sector in the province's industrial production,” said the minister. While he considered that “in the coming years there will be further transformation of this raw material into products ready for human consumption, animal consumption or intermediate goods”.

The Industrial Promotion regime covers  laws 9727 and 5,319 . In doing so, the Cordovan Government  promoted the development, competitiveness and innovation of industrial activity by providing tax benefits and economic subsidies.

 In detail 

  • 173 promoted companies are SMEs.
  • 63 industries entered the scheme for product and process  innovation projects  , 29 for modernization projects (incorporation of  new technology  to the industrial process) and 118 for investments in use-goods.
  • Unbundled by economic activity, 50.8% of investments were made in food and beverages, 23.9% in motor vehicles and parts thereof, 6.4% in rubber and plastic, among others.

 The companies 

Denso Manufacturing Argentina, Corebi, Bompaning, Grupo Inversia, Enpolex, Neocyl, Sitemp,  Prestressed Córdoba , Inceyca, José Llenes, Dulcor, Uniforms 21, Sturam Metallurgical Establishment,  Foundry Ariente e  Indacor .

SOURCE:  Punto a Punto 

Publication Date: 25/11/2019

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