TheCabildo de Tenerife has launched a support fund amounting to 900,000 euros, potentially increasing to 1,100,000 euros, aimed at bolstering the industrial sector . The initiative focuses on enhancing the competitiveness of the industry, updating infrastructure, and promoting sustainability. This was disclosed by Director of Industry Manuel Fernández, who highlights that this year, the Ministry (established for the 2023-2027 term) has tripled its fiscal allocation, with a maximum amount per beneficiary set at 30,000 euros. The aim of this financial support, as appreciated by the island advisor, is “to reinforce the efforts made last year to stimulate investments in sustainability, digitalisation, and industrial modernisation.”
Beneficiaries
This year’s highlights include an expansion of the eligible sectors, such as installation firms and the recycling industry, along with an emphasis on sustainability via waste reduction and renewable energy utilisation. The initiative also aims to support industrial digitalisation and job creation, prioritising self-employed individuals, SMEs, and projects initiated by young people, women, and individuals with disabilities.
Usage
Assistance is directed towards industrial, self-employed, and cooperative enterprises and will focus on key areas such as improving production processes and logistics, digitalisation, advancement in the circular economy, and energy efficiency. Subsidisable expenses encompass priorities like the purchase of industrial machinery, digital management systems, energy-efficient technology, installation of solar panels, electric vehicle charging stations, and renovations of production infrastructure.
Commitment
Manuel Fernández states, “with this aid scheme, we reaffirm our dedication to the island’s industrial framework, providing enhanced funding and improved access to support, ensuring that the industrial sector becomes a cornerstone of economic advancement in Tenerife, positively impacting both employment and the environment.” He further notes, “This initiative is part of the Canarian Sustainable Development Agenda 2030 and adheres to European Union directives concerning innovation and digital transformation.”
Industrial Areas
A comprehensive plan will revitalise the twelve industrial estates across Tenerife. The goal of this roadmap is to “encourage industrial activity as a means of transitioning towards economic diversification on the island.” The Master Plan identifies twelve key industrial areas in Tenerife: Güímar, Granadilla de Abona, La Campana (El Rosario), Los Majueos (La Laguna), Mayorazgo (Santa Cruz), South-Buenos Costa-Buenos Aires (Santa Cruz), Las Torres de Taco (La Laguna), La Mare de Abona, Las Chafiras (San Miguel de Abona), Las Andoriñas (San Miguel de Abona), and San Jerónimo (La Orotava).
