2/29/2008

Government of Lower Franconia supports business in 2007 with 13.7 million euros

Würzburg  Last year the Government of Lower Franconia was able to spend roughly € 13.7 million on promoting industry. Dr. Paul Beinhofer, President of the Regional Council, was delighted that the funds earmarked by the Bavarian State Parliament (Landtag) and provided for this purpose by the Bavarian State Government could be used to create new jobs and/or secure existing ones in Lower Franconia in 2007 as well.

Investments of small and medium-sized companies from the fields of industry, skilled crafts, trade, services and tourism having an investment volume of € 63.2 million were subsidized to the tune of € 6.6 million. In this way, 171 jobs could be created and 2,382 secured.  “It is remarkable,” the President of the Regional Council said, “that the good economic situation in the companies of Lower Franconia has resulted in another pleasing increase in investment and that the government funding could again help to create and secure a large number of jobs. Promoting domestic business enterprises is an important task of the government. We use public funds as an incentive for start-ups and investments, especially in the case of smaller companies”.

Furthermore, within the scope of infrastructure support, the County of Rhön-Grabfeld again received support of about € 1.2 million for its project to boost tourism and its efforts to recruit industrial companies.

Besides direct funding for business development, commercial and industrial enterprises also benefited from other indirect support funds. For example, various activities of the Chambers of Commerce and Industry (IHK) and Chamber of Trades and Crafts (HWK) as well as of other educational establishments were promoted, including the construction and maintenance of training facilities and the implementation of training and CPD measures, which were granted funding of approx. € 2.8 million.

In addition, the 5 non-university research institutions in Würzburg received support funds of close to € 3.1 million as project support and within the scope of institutional support.

Source: State of Bavaria