Reindustrialisation agreement for Castilla y León approved

The last March, 29th, the regional government of Castilla y Leon has approved an agreement that stablishes and fixes the actions to carry on for the impulse and stability of the regional industry. The agreement is framed in the Industry Law of 2014, and it plans several actions in various scopes aimed to the reindustrialization and the enforcement of the sector as a motor for the regional economy. The goal is to place the region among the leading positions in Spain for 2020. Currently, the industrial sector stands for the 17.7% of the regional Added Value, which is over the national average (14.2%) and reflects the importance of the sector in the region.

In order to achieve this goal, the regional government will assign 1,5 billion euro to various objectives, mainly, that the industry supposed the 20% of the Added Value in 2020. At the same time, and in a complementary way, it will deal with other objectives:

–  To rebalance the territory in an industrial terms

– To increase the expenditure in R&D to reach the 3% of the non-financial expenditure of the budgets of the regional ministries in 2019 (3% of the GDP including public and private investment, which means a very similar percentage of Germany and Denmark, and higher than Belgium, Italy or United Kingdom).

– To boost new activities

– To improve the financing for new industrial projects, transforming the current SODICAL into a Financial Institute

– To increase the size and abilities of the industrial companies

As an important industrial sectors will be considered the automotive, agrofood, equipments, health, energy and environment, habitat, culture and Telecommunications.

Thus, the industrial sector of Castilla y Leon will become, with the support of these measures, in the most modern and strong one in Spain, attracting new companies which want to develop its activity in a dynamic, stable and advanced environment.

If you want to know more details about this plan, or even to know how it can benefit to your investment project, don’t hesitate in asking us here