Home Economy Government approves tax benefits for nine companies expected to create 1,600 jobs

Government approves tax benefits for nine companies expected to create 1,600 jobs

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The executive led by António Costa has approved nine investment tax contracts. The projects involve a total investment of 385 million euros and foresee the creation of almost 1,600 jobs.

The Government approved this Thursday, December 19, the drafts of nine tax investment contracts. At issue is the granting of tax benefits on investment projects in the country that provide for the creation of jobs.

In total, the Executive approved nine contracts, which estimate a total investment of 385.3 million euros and the creation of 1,591 jobs, according to the information released by the Government in the statement issued after the meeting of the Council of Ministers.

Of the approved contracts, Natixis is the company that expects to create more jobs in Portugal: 427. The company has an investment project of 13.3 million euros and plans to hire employees by December 31, 2021.

Natixis senior country manager in Portugal, Nathalie Risacher, had already admitted that the goal was to grow in Portugal. In an interview with Business, in April, the official said that Natixis had 550 people and that the goal was to end the current year with 700 employees.

In terms of value, the largest investment contract is from Ferrado Nacomporta, a company that already has the green light to build a resort in Grândola, and whose partner is Sandra Ortega, daughter of the founder of Inditex. This contract estimates a total investment of 164.1 million euros and the creation of 318 jobs by 31 December 2023.

Also in Grândola, Lauak approved the draft tax agreement that aims to build a new industrial unit in that region. The company plans to invest 33 million euros and create 274 new jobs.

According to information published in Diário da República when the investment contracts were approved (in September), this project foresaw “an annual turnover of around 30 million euros” in 2023.

Lauak “is part of the French group LAUAK, which is currently one of the leading suppliers of metal components, heat exchangers, fuel tanks and structural assemblies for the aerospace industry,” read the investment agreement approval order.

Eurocast Aveiro has already approved the draft of a tax investment contract associated with a project that foresees the creation of 173 jobs. The company, which is part of the French GMD Group and works in the casting of high-pressure aluminum parts for the automotive industry, estimates that the investment project in question amounts to EUR 49.7 million.

Borgwarner Emissions Systems Portugal expects to make an investment of 9 million euros and create 148 jobs by the end of 2022. The American multinational opened its factory in Lanheses, Viana do Castelo, in 2014, and is a worldwide supplier of components. and parts for the automotive industry.

In the Algarve, Nozul, a hotel construction, promotion and management company, estimates to make an investment of 67 million euros and create 144 jobs by December 31, 2022.

Further north, TMG – Plasticised Fabrics and Other Coatings for the Automotive Industry is expected to implement an investment plan of 23.2 million euros, which is expected to create 52 jobs by the end of 2023.

The Spanish multinational Gestamp Aveiro will increase the capacity of the Oliveira de Azeméis plant, foreseeing an investment of 20.6 million euros and the creation of 35 jobs by the end of 2022.

Finally, Vila Galé Internacional will also benefit from a tax contract, considering that it plans to make an investment of 5.4 million euros and create 20 jobs by the end of next year.

The statement by the Council of Ministers also said that it approved “an amendment to the investment tax agreement signed on November 22, 2017, with the company Bohus Biotech Portugal, Lda., Which provides for a corporate income tax credit. “, giving no further details.

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