Emilia-Romagna Region approves the Investment Promotion Law

imgSeptember 18, 2014 - Emilia-Romagna Region has a new business card to support attractiveness of the economic system for national and foreign investors, with the final approval of the “investment promotion Law” (Legge sull’attrattività) on July 2014.

The main tool provided by the law is the “Settlement and Development Agreement”, that stands for “Accordi per l’insediamento e lo sviluppo” and that will be signed by the Regional government, the investor (a single company or a grouping), local bodies and other stakeholders involved in the investment. The agreement will include the commitments for each participant and will specify times of procedures and realization of the investment, employment impact, realization of transport and digital infrastructures, welfare services related to the investment, penalties for default parties (including Public Administration). The Regional government will coordinate all the other institutions in order to ensure effective and fast procedures.

The law provides a mapping of the available regional industrial areas. For identification of locations suitable for new investments, priority will be given to dismissed and ecologically business parks. Non-urbanized areas can be selected if no other option will be identified.

Moreover, the law confirms and strengthen the role of ERVET, regional in-house company, as the regional contact point and the development agency for foreign investment promotion in Emilia-Romagna.

Other actions promoted by the law are: support to collaboration of the regional research system with private companies and skilled human resource, also at international level; support to grouping of SMEs or professionals to increase internationalization and territorial attractiveness; tax credit for innovative companies and credit guarantees for SMEs; repayment of incentives in case of delocalization within 3 years to non EU-States and with employment reduction >50%.

Source: Legge Regionale n.14 - 18/07/2014, Radio Emilia-Romagna





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