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Velas ,  April 22, 2015

Regional Government launches structural plan to channel major private investments

The Council of the Government has approved a structural plan to reinforce the economic dynamics by channelling major private investments to the Azores and boosting the creation of jobs.

 In the press release presented today by the Regional Secretary for Social Solidarity, Andreia Cardoso, the Government announced that the plan comprises three key measures for the accomplishment of these strategic goals for the Region.

 The first measure concerns the extension of tax benefits in corporate tax up to a maximum limit of 10 years in order to guarantee the full use of these tax incentives for investment.

 This measure ensures that major private investments will benefit from a reduction in the 10-year period that can reach up to 77% of the corporate to be paid.

 It also provides the extension of specific tax benefits to marine biotechnology and aquaculture activities, thus encouraging the creation of jobs, including highly qualified ones.

 The second measure aims to increase the reimbursement rate under the Subsystem of Incentives for the Promotion of Exports for investments exceeding 15 million Euros that create, at least, 100 jobs.

 These investments will now benefit from a non-repayable reimbursement rate of 45%, without maximum repayment limit.

 This measure boosts the attractiveness of support for private investments over 15 million Euros, which, until now, were limited to a refundable support of five million Euros.

 The third measure concerns a programme to support employment creation, designated as INVEST-AZORES. It is targeted to companies that intend to hire, at least, 100 workers.

 The financial support will be allocated in the form of a subsidy that will support 50% of salary costs for each new job created. It will be paid up to a maximum period of 24 months.

 Such support will be granted on the condition that companies will hire workers who are unemployed for at least 24 months, youngsters aged between 18 and 24 or unemployed over 50 years.


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Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

 
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