New Investment Subsidy Should Encourage Businesses to Invest
In order to encourage more investments, the Ministry for Digital and Economic Affairs implemented a subsidy for new investments with focus on digitalization, life science, health and sustainability. The subsidy does not have to be paid back and businesses can apply for it from now on.
Minister Schramböck presented the new investment subsidy which should encourage businesses to invest more. / Picture: © BMDW Federal Ministry for Digital and Economic Affairs / ABA Austrian Business Agency,
Margarete Schramböck, the Minister of Economic Affaires announced that businesses can apply for an investment subsidy if they plan to invest in digitalization, sustainability, life science and health.
"By means of a non-repayable grant, we provide an incentive to secure operating sites, create jobs and training positions and strengthen the international competitiveness of Austria as a business location", says Minister Schramböck.
Investments which have been done since 1 August 2020 can be subsidized. Applications which are sent from 1 September 2020 to 28 February 2021 will receive an incentive.
Investments between 5,000 euros and 50 million euros are supported by 7%. However, it is necessary to make first measures to define the start of the investment activities between 1 September 2020 and 28 February 2021.
First measures are defined as orders, deliveries, the start of services, down payments, payments, invoices, conclusion of a sales contract or the start of construction of eligible investments.
For investments with more than 20 million euros, the companies are also supported by 7% but they have one year to start their investment activities. Nonetheless, the investment must be finished until 28 February 2024 the latest.
Companies which are investing in depreciable fixed assets, both tangible and intangible, that must be capitalized, are supported.
Further information can be found at aws.at.