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CzechInvest received 83 applications for investment incentives in 2017

With the support of incentives, firms plan to invest more than CZK 51 billion in the Czech Republic

CzechInvest received 83 applications for investment incentives in 2017

CzechInvest received 83 applications for investment incentives in 2017. This involves investment projects in the aggregate value of more than CZK 51 billion, which should create 7,884 new jobs. The majority of applicants were Czech and foreign firms that are already operating in the Czech Republic. Fourteen cases involved completely new investments.

Predominantly large companies applied for investment incentives, though 15 applications were submitted by small and medium-sized enterprises. CzechInvest registered the largest number of applications in March, when ten investors requested financial support. The agency also received an increased number of applications in the last three months of the year.

The Ústí region is the site of the largest number of investment projects (12), followed by Central Bohemia (11). Investors intend to implement six projects in special industrial zones, where 622 new jobs should be created thanks to investments in the combined value of more than CZK 4 billion.

A large majority of investors are applying for support for their projects in the manufacturing industry, especially in the area of metalworking and metal-processing, as well vehicle manufacturing, rubber and plastics. Six firms aim to use investment incentives to support the establishment or expansion of a shared-services centre, technology centre or software-development centre.

Seventy-four investment projects, some of which were submitted in previous years, received a decision that they will be able to obtain investment incentives in the Czech Republic in the future. These involve investment projects in the combined value of nearly CZK 45 billion, which should create 8,260 new jobs. The investors will be able to draw from the state investment incentives in the maximum amount of CZK 10.75 billion for these projects.