Companies can apply for state financial aid within September 22 and October 17

The Ministry of Finance announces the start of the first session of the state aid programme aimed at encouraging investment and enhancing regional development by creating new jobs, hence companies looking for obtaining funds through state aid can submit the related requests within September 22 and October 17, 2014, according to a press release of the ministry.

The Government yesterday enacted the support-scheme, effective until December 31, 2020, which includes funds of 2.7 billion lei (600 million euro), yet the maximum budget could be supplemented. The funds allocated for this first session amount to 200 million lei.

“The state aid scheme is aimed at supporting the salary costs, which do not exceed the average gross wage, of enterprises developing investment projects and creating at least 10 new jobs, of which three for disadvantage workers, irrespective of the economic sectors they operate in, through grants from the State budget, for two consecutive years”, states the press release.

According to the related government decision (GD 332/2014) companies from Bucharest can be allocated maximum 11.5 million euro, individually, by 2017, and 7.5 million euro within 2017 and 2020. Enterprises from the Western or Ilfov region will receive no more than 26.25 million euro, while the threshold for companies in the other regions is 37.5 million euro.

Applications for funding agreement and the accompanying supporting documents for the first stage of evaluation should be sent to the General Register Office of the Ministry of Finance within the given period.