The Government of the Balearic Islands has announced the call for grants to promote large investments and the modernization of the industrial sector in the archipelago, with a total budget of 6.2 million euros. These subsidies, which will cover up to 50% of the investments made, seek to improve the productive, digital and sustainable structure of local companies.
Support for large investments
Most of the funds, 3.8 million euros, will go to large industrial projects costing 100,000 euros or more.
The objective is to modernize the productive and digital infrastructure of companies, encouraging initiatives that generate economic impact and employment. Each beneficiary may receive up to 200,000 euros. The selection criteria include job creation, industrial quality certification and adherence to the Local Sustainable Industry Program, promoted by the Local Development Agency (ADR Balears).
Innovation, digitalization and sustainability
The rest of the budget, 2.3 million euros, will be divided between three programs focused on design, production and digitalization. The aid will cover from industrial innovation projects to the acquisition of new or used machinery, highlighting support for sustainability and the use of information and communication technologies (ICT). Among the novelties, the Councilor for Enterprise, Employment and Energy, Alejandro Sáenz de San Pedro, has highlighted that, for the first time, second-hand machinery will be subsidized and that laboratories dedicated to research and development will be able to access these aids.
Deadline and expected results
The deadline for submitting applications will be open from January 24 to February 24. Last year, a total of 379 companies benefited from this aid, generating an economic impact of 23 million euros and creating 71 new jobs. The general director of Industry, Ingrid de la Fuente, stressed that the sectors with the greatest presence in the 2024 aid were the nautical, food, textile and wood, with special prominence in Mallorca, which concentrated 265 beneficiaries.
