Regional Government approves support for another 17 million Euros of private investment
The Regional Director for Support to the Investment and Competitiveness announced the approval of another 34 projects submitted under Competir + incentive system and approved by the Azores Operational Programme (PO Açores 2020). With eligible investment amounting to 16.7 million Euros, they are expected to create more than 90 jobs on several islands.
"There are 34 investment projects representing almost 17 million Euros that benefit from support amounting to 9.2 million Euros under the Incentive System for Business Competitiveness, Competir+," stressed Ricardo Medeiros. The government official spoke after a visit to Garway Hostel, a project representing an investment of 804 thousand Euros.
As for the implementation of 34 new investment projects, 13 will be implemented on S. Miguel, nine on Terceira, six on Pico, three on Santa Maria and one on São Jorge. In addition to these investments, there are two multi-island projects, one to be developed on the islands of Pico and Faial, while the other will be promoted on the islands of Terceira and S. Jorge.
"These investments embody the cycle of economic development, based on the growth of diversified private investment and reorientation of policies to support and create more and better jobs," said the Regional Director for Support to the Investment and Competitiveness.
"Of these 34 projects, 14 will be developed in tourism sector, 12 in the trade sector, four in the industry sector and four in the area of services," said the government official.
"Regarding the various Competir + subsystems, 17 projects were submitted to Local Development, 14 to the Promotion of Exports, and three to Qualified and Creative Entrepreneurship - Young Entrepreneurs," said Ricardo Medeiros.