Thursday 10/28/21
ENTREPRENEURS

Spanish industrial SMEs can now apply state aid to renew machine tools

The aid is in the form of a subsidy and will be a maximum of 20% of expenses in small companies and 10% in the case of medium-sized companies
Worker man black
Photo: Pixabay.

Spanish industrial entrepreneurs and SMEs can now request public aid from the central government for machinery and tools in their businesses.

The Official State Gazette (BOE) of Spain published on Friday the call for the Modernization Plan of the machine tool for small and medium-sized companies in 2021. This means that the aid can be requested from today Saturday, October 9 until November 2.

The coalition government led by Pedro Sanchez has allocated 50 million euros to the plan. With it, it aims to promote the renewal of the tool machinery of Spanish SMEs.

The aim is to promote the reactivation of the industrial sector in the context of the post-pandemic recovery.

According to government information, the aid is in the form of a subsidy and will be a maximum of 20% of expenses in small companies and 10% in the case of medium-sized companies, with a maximum limit of 175,000 euros per machine.

The companies will have a maximum of 15 months to carry out the investments from the date of the resolution of the concession.

Eligible machinery

Eligible investments must meet any of the following conditions: involving the expansion of productive capacity; diversification of production into additional new products; or that involve an essential change in the general production process.

Among the eligible machines are lathes, milling machines, boring machines, drills, threading machines, sharpening machines, polishing machines, broaching machines, mechanical or hydraulic presses, punching machines, cutting machines, chamfering machines, riveting machines, saws, and industrial equipment for additive manufacturing, among others.

For the Secretary General for Industry and SMEs, Raül Blanco, this program will allow to "have a strong and competitive industrial sector, which will be strengthened after the pandemic. Having a powerful industrial sector means better resisting this type of crisis and it has been seen that the recovery is faster and stronger."

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