KEY FACTS

BUSINESS FINANCING

The Unified Business Law (n. 6/1999) provides a specific package of funding opportunities to attract business and investors to the region.

Businesses funding in innovative R&D projects can benefit from grants ranging from 20% to 80% of the capital invested, with a maximum of 3 million euro per project. In specific cases, it is also possible to benefit from profit-participation loans for recapitalisation, relocation costs and intervention for the recovery, restructuring and conversion of businesses established in Trentino.

To date, some 2,000 companies per year have gained access to support for fixed investments in various sectors of the economy, receiving on average about 200,000 euro per contribution.

Specific measures are also foreseen for startup launched by young people or women (covering 50% of the startup costs), the promotion of consortia and business networks (average contribution of 45% for business services), internationalisation activities (up to 70% for trade shows, 50% for international marketing), the facilitation of access to credit, other tax reliefs (reduction of IRAP by 3%, vehicle IPT fixed at 151 euro).

Entrepreneurship-fostering measures
Measures supporting corporate research's projects
  • non-repayable incentive, 20%-80%
  • top grant:€ 3M
  • coverage for researcher's supply: up to 50%of costs
Corporate fixed investments 
  • non-repayable incentive in the amount of more than 20%
  • for new initiatives, the incentives is of 30% (in de minimis)
New business (youth and women) 
  • incentive up to 50% of startup's costs
Establishment business consortia and networks
  •  incentive up to 50% of "shared incentive"
Internationalisation
  • grant of 50%-70% of costs for international trade fairs 
  • support up to 
Tax relief
  • IRAP's cut of 3 percentage points for new enterprises (established from 2012- excluding agriculture, banking or assurance fields) for 5 years
  • IRAP equal to 3.44% for all other business
Vocational training for new-employees
  • top grant equal to € 3.000 pro capita 
  • free training class to get skilled in more than 55 professional roles, provided for apprentice contract 
Continuing vocational training
  • from €2.500 for vocational training aimed at top and technical management to €25.000 for high skilled interventions with job-off periods

[Source: APIAE, Provincial Agency for the Incentivisation of Economic Activities]

Finally, the major systemic interventions implemented by the Province through Trentino Sviluppo (regional development agency which manages 1 billion euro of assets) include the provision of workspace and production areas (with the possibility to obtain reductions in purchase prices in order to meet employment commitments) and two important projects already underway; Progetto Manifattura (Greentech Hub with 108 million euro already invested) and the Rovereto Mechatronics Hub (planned investment of 85 million euro).

Trentino's BICs

Source: Statistics Office of the Autonomous Province of Trento

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