Romania to provide EUR 100mn of state aid to IT companies.

By bne IntelliNews July 23, 2012
The Romanian government plans to provide EUR 100mn worth of state aid to investors in the IT sector to stimulate the creation of new jobs, a draft bill published by the countrys finance ministry indicated. The government will thus support companies that generate at least 300 workplaces and maintain them for at least five years. The state aid, provided in cash by the government, will be recovered from the taxes and other contributions paid to the budget by the companies within five years. To qualify for the scheme, investment projects have to dedicate at least 20% of the money to the IT sector. US company IBM is among the first candidates to apply for the state-aid, daily Ziarul Financiar reported. IBM has reportedly started discussions with the Romanian government at the end of last year, trying to pick a location for a 3,000-employee service centre. Other candidates for the scheme include Oracle, Dell and Ericsson, which also consider opening service centres in Romania.

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