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Home Europa Press

The central government approves regional incentives for almost 59 million for 17 investment projects in the Canary Islands

January 3, 2024
in Europa Press
Reading Time: 2 mins read
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The central government approves regional incentives for almost 59 million for 17 investment projects in the Canary Islands
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SANTA CRUZ DE TENERIFE, Jan. 3 (EUROPA PRESS) –

The central government, through a Commission Agreement
Government Delegate for Economic Affairs (CDGAE) and a
Order of the Ministry of Finance has approved the granting of incentives
regional projects to a total of 102 projects in ten autonomous communities.

In the specific case of the Canary Islands, 17 projects have been approved, four of them in the Delegated Commission and another 13 via Ministerial Order with a subsidy of 58.9 million and representing a total investment of 202,033,892 euros.

Likewise, they will allow the creation of 333 new jobs and maintain 2,462 jobs, the Government details in a note.

The beneficiary companies are Victoria Hotels & Resorts (San Bartolomé de Tirajana); Plasticenergy Tenerife (Arico); Mare Nostrum Resort (Arona); Fred. Olsen (San Sebastián de La Gomera); Domun Renova Homes (Agüimes); SPV Everton (Las Palmas de Gran Canaria); Mandarin Hotels (Las Palmas de Gran Canaria); Paper and Pulp from the Canary Islands (Las Palmas de Gran Canaria); Render from La Triguera (Tías); Orotava Valley (Puerto de la Cruz); Marina Jandía (Pájara); Unión Martín (Las Palmas de Gran Canaria); Kalise Group (Las Palmas de Gran Canaria); Hotel Atlantic El Tope (Puerto de la Cruz); Implants and Medical Technologies (Telde); Arena Tourist Group (Antigua) and Jualex Canarias (Santa Cruz de Tenerife).

This year in the Canary Islands, regional incentives have been approved for 32
projects that involved a total investment of 296 million euros.

These initiatives have received 80.6 million euros in subsidies and have created 514 jobs and maintained 4,051 jobs.

The Government has granted aid to projects in Aragon, Murcia, Castilla-La Mancha, Cantabria, Galicia, the Canary Islands, Castilla y León, Andalusia, Extremadura and the Valencian Community.

The overall amount of subsidies awarded is 261,269,202.72
euros and will allow mobilizing a total investment of 1,385,317,364 euros.

These projects will maintain 12,486 jobs and create
another 2,502 new jobs.

This aid contributes to interterritorial economic balance and inclusive and sustainable economic growth by financing productive investment projects that generate employment, are technologically advanced and environmentally sustainable.
promoting economic activity in regions with a lower level of
development and contributing to closing the gap in terms of personal income
capita with the rest of the regions, not only in Spain but also in the EU, the Executive highlights.

During the five years of Pedro Sánchez’s Government, they have doubled
investments subsidized through regional incentives throughout
Spain compared to the last five years of the previous Executive.

Specifically, in the period 2019-2023, a total of 1,059 million subsidies have been approved for these projects, compared to 492 million in the period 2013-2017.



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