Santa Cruz de Tenerife 26 Feb. (Europa Press) –
The Canarian Special Zone (ZEC) concluded last year with a total of 11,045 positions –358 more– and 895 registered firms, an increase of 8.4% compared to the prior year, according to figures from the public report released this Wednesday by the consortium.
Additionally, the final management report for 2023, featuring complete and accurate data, highlights the rise in turnover for the registered companies, surpassing for the first time the 3,000 million euro threshold and achieving a turnover of 3,262 million euros, which is a 9.23% growth from the previous year.
Furthermore, the average turnover per ZEC entity increased to 4,958,010 euros for each registered entity and 7,092,446.24 euros for those under the regime.
The positive outcome for the entities saw a rise of 19.48%, totalling 296,567,928.37 euros, or 25.96% with a resulting gain of 227,767,594.89 euros when considering entities that reported losses, as detailed in a statement from the organisation.
Concerning registered entities, these grew from 757 in 2022 to 825 in 2023, marking a net rise of 8.98% and incorporating 118 new registrations. Active entities have also increased from 619 to 658, showing a growth of 6.30%.
In terms of employment, the number of registered contracts rose from 10,236 in 2022 to 10,687 in 2023, resulting in the creation of 451 new jobs.
The average employment per entity is now at 12.95 jobs, nearly double the average of about 7 jobs per company in the Canary Islands.
qualitatively, as an illustration of burgeoning sectors, companies within the Canarian special zone involved in active computer activities rose from 74 to 81, while those engaged in film production grew from 31 to 35, and firms linked to renewable energy increased from 15 to 20.
These statistics are a result of the enhanced investment attraction efforts of the agency, which organised over 81 promotional activities in 2023, with 71 taking place in person.
Heightened Presence in the US
Notably, initiatives for attracting investment in the United States have gained attention, showcasing a considerable boost in engagement; alongside the United Kingdom, Switzerland, France, Japan, Germany, and Singapore.
By sector, the promotional efforts of the agency managing the key tax incentive of the REF for the diversification of the Canarian economy have centred on technology, audiovisual, marine-maritime, R&D, industry, and aerospace.
“These outcomes signify the vigorous efforts in investment attraction witnessed in recent years, exhibiting a positive trend accompanied by exponential increases in both the number of companies and the jobs they generate within the ZEC,” stated Pablo Hernández, the agency’s president appointed by the Ministry of Finance.
He also emphasised that “since 2021, the reports of the ZEC have been compiled using actual data concerning turnover, profit, tax contributions, and employment of the companies; this results in a slightly later publication of their definitive version but provides an accurate framework to measure their impact and inform decision-making.”
Regarding the strategy of the organisation, the leading representative of the ZEC asserted that “the favourable outcomes stem from prioritising the creation of ecosystems involving companies, training institutions, and various public organisations to drive investment.”
In his view, “while the tax incentive is significantly valuable, the most crucial factor in attracting investment lies in the entirety of talent, infrastructure, and their synergy with tax mechanisms. Investors seek support across all aspects that foster trust; without that, there is no investment and job creation.”
Therefore, he noted, “the strategy has increasingly focused on attending various events alongside established companies, showcasing their capabilities and collaborating with training centres. The results speak for themselves.”
