30 million euros. Economy launches a ‘Renove plan’ of equipment goods in the industry

The Government launches a fund for companies to finance the purchase of equipment goods, which aims to improve the competitiveness of an industry in need of investment.

The Executive has enabled in the General State Budgets a plan to promote both the industrial sector and the branch of machinery, in particular: a kind of plan Renove of equipment goods, which would be endowed with 30 million euros. This initiative was already launched in 2016, but it never came to fruition.

The program aims to “promote the modernization of the productive equipment of the Spanish industrial companies” through “aid to industrial companies that acquire and install in their productive lines equipment goods that result in a technological improvement of their production processes,” as stated by the draft Budgets. That is, the State would finance part of the purchase of the new equipment goods, with the objective of reducing costs and boosting the production of Spanish companies

The text states that companies must continue “making efforts to improve competitiveness through, among other actions, the modernization of their production processes in various areas such as technology, occupational safety, the environment and energy efficiency” . With this, the Government hopes that “the reconversion of the productive sector will mean increasing competitiveness”, so that this will result in an increase in exports, maintaining the momentum of growth in the medium term.

With this program, the item for industrial development (which also includes aid for the electric car and a program to offset the cost of acquiring CO2 emission rights), more than doubles, with an advance of 114.3% compared to the Previous accounts

These aids already appeared in a timely manner in the General State Budgets of 2016, but they were not implemented and, finally, they were eliminated in the Accounts for 2017. They have now been recovered for the 2018.

The aid is aimed at improving the competitiveness of SMEs in the international market

The aid is aimed at small and medium-sized companies, according to the methodology used by the EU. That is, those companies that have a workforce of less than 250 workers and that, in addition, have a turnover of less than 50 million euros per year, or a balance of less than 43 million euros. According to this definition, 99.4% of the Spanish industrial companies could aspire to this aid. For that reason, it would not be a restrictive condition, but would try to avoid that the large companies concentrated the aid.


Source: http://www.expansion.com/economia/2018/04/23/5add856b468aeb270f8b464f.html

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