44 million from the Commission for the Italian regions hit by earthquakes

The European Commission has established that the Italian aid scheme of € 43.9 million aimed at supporting investments in the regions hit by the 2016 and 2017 earthquakes is in
44 million from the Commission for the Italian regions hit by earthquakes
06 April 17:56 2018 Print This Article

The European Commission has established that the Italian aid scheme of € 43.9 million aimed at supporting investments in the regions hit by the 2016 and 2017 earthquakes is in line with the Union’s state aid rules. Margrethe Vestager, Commissioner for Competition, commented: “We believe that the measure is suitable to support the companies affected and the people living in these regions.”

In 2016 and 2017 in central Italy there were four strong earthquakes that affected approximately 600,000 people in an area of about 8,000 km². Currently the region is still suffering from an abnormal seismic activity. The Italian aid scheme approved to mitigate the economic and social damage suffered in 140 municipalities in Lazio, Umbria, Marche and Abruzzo.

The aid takes the form of a tax credit for all companies making initial investments in the area. Support for large companies will be limited to aid for setting up a new business, diversifying the business or acquiring a company that has closed.

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