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Genentech España S.L.
UNITED STATES OF AMERICA
Genentech Inc, a US company with its headquarters in San Francisco, is a world leader in R&D, development and commercialization of pharmaceutical products.
Foreign companies established in Galicia
C/ San Lázaro s/n 15703 Santiago de Compostela
Tel.: +34 981 54 11 62
Fax: +34 981 54 11 14
www.igape.es promocion@igape.es
Galicia
Aid & Incentives
Galicia's IGAPE regional development agency supports and promotes all kinds of projects from micro companies, to SMEs to large investment projects.
Non reimbursable loans available through investment programs and regional incentives are of particular interest.
This financing is aimed at investment projects of over 600,000 euros which involve the creation of at least five jobs. As the European Union considers Galicia as an Objective One region, the maximum funding for these kinds of projects stands at 40% of the total outlay.
The investment program is designed and managed directly through IGAPE. Projects in certain economic activities which create jobs with a minimum outlay of 600,000 euros may apply for a grant for their investments in fixed assets.
The regional incentive program is a state-run program managed by the ministry whereby IGAPE presents and defends projects in Galicia providing investors with a single negotiator when managing their operations.
IGAPE also offers a series of services specially aimed at companies setting up in Galicia in order to make the job of entrepreneurs easier and unite the management offered to them. These include:
- Information and consulting in the paperwork necessary to set up a project.
- The required studies to support the implementation of the project.
- Help in the search for the right location.
- Obtaining the necessary permission to start up a project from the authorities.
- Support in creating contracts between companies with related activities.
Other interesting measures which entrepreneurs have requested include programs related to the hiring and training of workers which allow companies to create made-to-measure training programs.
Public risk capital programs offer to take a minority stake in investment projects for a limited amount of time, usually no longer than seven years. This kind of program operates with capital subscriptions or participative loans.
Furthermore, the INESGA fund offers financing for large projects and initiatives in strategic sectors of the Galician economy.
- SUMMARY TABLE OF INVESMENT INCENTIVES
| Programs | Objectives | Beneficiaries | Type and size of incentive |
| Regional Investment incentives | To promote the start up of new companies and contribute to maintaining existing ones as well as encouraging stable employment. | Registered companies | Non-reimbursable loans. Up to 15% of the costs which qualify for incentives. |
| Public capital risk | Minority stakes in investment projects for no longer than 7 years, both through capital subscriptions or participative loans. | ||
| Other funds | Funds aimed at supporting large investment projects in strategic sectors in Galicia through guaranteed loans. | ||
Aside from these investment incentives, there are also other services offered to companies such as:
- Incentives for the training of labor
- Incentives for employment and hiring
- R&D and Innovation incentives
