Support for crafts and industry: The state of South Tyrol provides aid for business investments

Support for crafts and industry: The state of South Tyrol provides aid for business investments

According to a report by www.suedtirolnews.it, the regional government of South Tyrol has approved guidelines for the allocation of aid for business investments in 2024. The state is initially providing three million euros for this aid. The largest part of the funds, 2.5 million euros, is earmarked for the craft and industry sectors, while half a million euros will benefit the trade and services sector. The aid is granted exclusively for investments in movable goods and amounts to 20 percent of the permitted costs, but a maximum of 100,000 euros.

The new guidelines place greater emphasis on women-owned businesses, new businesses and sustainability certifications. Women and new companies now receive 30 instead of 15 points when evaluating applications, and sustainability certifications are also rewarded with 30 points. Training companies will continue to be rated with 30 points. Certifications such as “family and career audit” and “gender equality” remain at 15 points. Companies that donated food and non-food products to charities for free can count on ten points.

Applications for the aid can be submitted via the state administration’s e-government service “myCivis” from January 1, 2024. The rankings will be created by July 31, 2024.

Business investment aid provides valuable support for companies wishing to make investments. Last year there were around 120 applications from the trades, which shows the importance of this funding for companies.

The new guidelines also set a reduced minimum investment amount of 15,000 euros, compared to the previous tenders where the minimum investment amount was 20,000 euros.

These measures can have a positive impact on the market in South Tyrol, especially for smaller companies and start-ups that receive financial support from the aid. By focusing on sustainability, companies are encouraged to make more environmentally friendly investments. Improved scoring for women-owned businesses can help promote gender equality in the workplace. Overall, these measures are likely to help strengthen the economy and create new jobs.