ANNOUNCED AS TEMPORARYNo
On 9 June 2010, the Argentine President announced a subsidies package aimed at boosting development of industrial clusters in the country.
The Government plans to assign AR$ 52 millions (US$ 13.5 millions) to the program. Sixty percent of the funds will be allocated in non-refundable grants for basic-infrastructure development plans in industrial clusters, i.e. water, gas and electricity supply networks; internal streets; sewages; refuse disposal systems, etc. The remaining 40 percent of the funds will be channeled through subsidized loans, which will be granted to SMEs willing to settle in existing clusters.
According to media reports, the plan's main purpose is to further competitiveness in some sectors, including iron and steel, petrochemical, hides and leather, textile, footwear, wood, furniture, auto-parts, software, toys, diary and food.
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