Costs of establishing technoparks in the field of high technology in regions are to subsidized

13th March 2015

Ministry of Communications and Mass Media of the Russian Federation is launching a new mechanism to support regions, which set up industrial parks in the field of high technologies

The selection of regions eligible for government support in the form of subsidies for reimbursement of technoparks’ infrastructure costs has already started. The guidelines for preparation of the application for reimbursement are already approved. Subsidies will be proportional to the amount of tax and customs payments received by the federal budget as a result of the residents’ activity.

According to the Minister of Communications and Mass Media of the Russian Federation Nikolay Nikiforov, at the first stage, the regions, where technoparks have already been established or are being established, will be selected. The list will be approved by the Russian Ministry of Finance and submitted to the Government of the Russian Federation. After this, the selected regions will get the opportunity to apply to the Ministry of Communications and Mass Media for reimbursement of money spent on infrastructure of these technoparks based on financial statements of the residents of technoparks located in their region. The amount of compensation, according to the calculations of the Ministry, will depend on the size of tax and customs payments received from the technopark’s residents. A number of established limitations will be taken into account - for example, 50% will be refunded from value added tax (VAT) paid to the federal budget, and the total amount of compensation will be limited to 10 million rubles per hectare of technopark’s area.

Experts consider the subsidy mechanism to be “transparent”. “The program is based on a quite transparent mechanism for reimbursement of infrastructure costs through federal grants. This model takes into account the experience of the previous program and is aimed primarily at supporting technoparks with operating and effective business models. This should remove one of the drawbacks of the previous program, which had no full definition of technopark and criteria of its efficiency”, - said General Director of “St. Petersburg’s technopark” Andrey Sokolov to the Russian Gazette.

Subsidies, calculated based on the volume residents’ payments to the federal budget, will become an incentive both for the regional government and for the management company. Provided effective work, the former will receive additional guarantees for return of investments made, and the latter will be able to use the grant for the development of infrastructure and attract new prospective residents. On the other hand, there is no possibility to receive federal subsidies to co-finance a technopark’s infrastructure works at the initial stage.

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