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Vila do Porto ,  February 16, 2018

Azorean Government establishes support for economic growth based on eight pillars, says Sérgio Ávila

The Vice-President of the Government stated in Vila do Porto that redevelopment of the old airport workshops for the installation of the Business Incubator of Santa Maria Business Development and Innovation Centre fulfils a commitment already taken. It falls within a wider strategy included in a comprehensive strategy to support and strengthen regional economic growth based on eight pillars.
"Today, we feel a climate of trust on the part of entrepreneurs and companies in the Azores," as well as on the part of consumers, stressed Sérgio Ávila. He spoke at the signing of the awarding contract of that work, emphasising that "this reality is based on eight specific lines to support the consolidation" of economic and employment growth.
For the government official, "the first is undoubtedly a tax structure that is substantially more favourable to companies and workers than that implemented in Mainland Portugal, Madeira and in most European countries."
Secondly, Sérgio Ávila pointed out "a system of investment incentives that is the most comprehensive and the most generous at European level." It aims to boost private investment in a climate of financial stability of public accounts, providing a basis for the third pillar, which is "the confidence in those who wish to invest."
The fourth important aspect listed by the Vice-President is, in addition to the dynamics and resumption of regional investments, "the channelling of external investment" that has been registered since last year.
"The fifth aspect concerns the policies to support employment and job creation by companies. They are the most comprehensive and the ones with highest level of support at national level," said Sérgio Ávila.
According to the Vice-President, the support network for young entrepreneurs, the creation of new companies by young people and the efforts undertaken over the last three years in the creation and implementation of the Azores Brand, contributing to the increase of sales and exports, are the sixth and seventh pillars to support economic recovery.
The Vice-President further emphasised that, in addition to other lines of action, the Regional Government provided "financial tools to support the capitalisation of companies and, together with all these support system, they may further strengthen this dynamics" in the Region.
"2018 will be a remarkable year in terms of the economic growth of our Region and the growth of employment," stated the government official.
The contract work for the installation of the Business Incubator of Santa Maria Business Development and Innovation Centre is an investment of about two million Euros and has an estimated completion period of one year.
For Sérgio Ávila, this investment will also contribute to boost local economic activity, both with companies in the technological field and with companies in the craft industry, providing better conditions its success.
The project provides for the rehabilitation of the former ANA general workshops, located within Santa Maria airport, towards their adaptation into a business incubator. It will provide several services, including the installation of new companies and spaces for promotional events and a FabLab (Laboratory of Endogenous Resources) containing an associated laboratory of manufacture.
Moreover, this incubation centre will also house training rooms, spaces for creative industries, namely handicrafts, and agri-food, among others.
The new infrastructure is part of the Regional Network of Business Incubators that is being implemented.
During this legislative period, the Government of the Azores intends to have 12 local-based incubators, three regional-based incubators and three technology-based incubators within the regional network.


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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