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Ponta Delgada ,  April 03, 2014

"Empreende Jovem" approves another 33 projects involving an investment of 7.4 million Euros and the creation of 57 jobs

The selection committee of "Empreende Jovem" has proposed the approval of 33 new investment projects, which represent an estimated investment of 7.4 million Euros and the creation of 57 new jobs.

For the Vice-President of the Government, "the response provided by Azorean businesspeople are very encouraging, particularly young entrepreneurs who trust in the future of regional economy and the development of the Region, as evidenced by these new projects."

 "Last year, a total of 167 projects were submitted by young entrepreneurs, representing an investment over 31 million Euros and the creation of 346 jobs. These figures are the clear evidence that youngsters have confidence in the Azorean economy," stressed Sérgio Ávila.

 According to the Vice-President, "the positive results of these proposed investments, after being implemented, will have a significant impact on the economic development of the Region; either through the creation of jobs and generation of wealth or through the renovation of the regional business fabric."

 "It is good to remember that, according to official data, the Azores are the region that registered the highest rate regarding the creation of new companies. These figures also show a ratio of four companies created for every company that closed down," stressed the government official.

 In this regard, he considered that "the confidence of Azorean youngsters in the creation of new companies and the development of new business activities also evidences the assertiveness and the effectiveness of the incentive schemes at their disposal."

 "Every year, the support measures provided by the Regional Government to companies, especially to those created by young entrepreneurs, have a higher financial allocation compared to the aid schemes available in Mainland Portugal," stated Sérgio Ávila. With these tools, youngsters benefit from competitive advantages and may feel motivated to develop their business activity in the Azores.

 Moreover, Sérgio Ávila stressed that "the confidence of young entrepreneurs in the regional economy and incentive systems for private investment are also due to the quick approval of applications and the prompt payment of incentives for the projects approved."

 "We have demonstrated our capacity to make timely and quick payments and analyse projects in an average period of less than 30 days," stated the Vice-President. The government official added that the short period between the project phase and the allocation of financial support is an additional factor of confidence. This has encouraged more young entrepreneurs to invest in their economic activity, with clear benefits to job creation and the development of the Region.

 For Sérgio Ávila, the Government's investment in young entrepreneurs "is only possible because the Azores have allocated financial resources to the timely payment of these investment projects, thanks to the balance of their public finances."

 "In fact, regional companies and business initiatives developed in the Region can benefit from financial support measures that are higher than those implemented in Mainland Portugal," noted the Vice-President of the Government.

 Of the 33 projects submitted in March that have been proposed for approval by the selection committee of "Empreende Jovem," nine will be developed on Pico, seven on Santa Maria, seven on Terceira, six on São Miguel, two on S. Jorge and two on Faial.

 A total of 397 projects have been submitted under "Empreende Jovem" since its beginning in late July 2010 to the present time, which represents a global investment over 75 million Euros and the creation of 915 new jobs.


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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