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July 7th, 2008
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Politicians want to attract high-tech companies, not factories

Incentives could go to information technology workers

April 16th, 2008 issue

(Updated April 22, 2008) Industry subsidies may soon shift from factories to high-tech and strategic-services centers under a new plan being discussed by the government, Hospodářské noviny wrote on Tuesday

Frustrated by a growing shortage of skilled workers in the country, Industry Minister Martin Říman suggested the new investment incentives plan. It must be approved by the Parliament and the president before it could go into effect.

Under the new investment incentives plan, wage subsidies would be the only form of investment incentives in the Czech Republic. The plan would also abolish tax holidays.

Investors in strategic services such as information technology currently can receive up to 60 percent in wage subsidies if they employ at least 20 people and invest at least 10 million Kč ($637,000) over a five-year period.

Investors can also receive a 35 percent subsidy for creating worker training programs.


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