Job Creation Subsidies Oversubscribed In Hungary
- 25 Apr 2013 9:00 AM
The number of applications for job creation subsidies doubled this year to 1,697, with a total of Ft 21.8 billion requested, more than twice the available Ft 10 billion. Most of the companies claiming the subsidies were micro-enterprises with five employees or fewer.
This year 26% of applications were for the extra subsidies available for companies in “free trade zones”. These amounted to Ft 7.8 billion and promised to create 3,200 jobs.
Under the scheme successful applicants are given funds to purchase equipment and technology provided that they create jobs that are maintained for a minimum of two years and the equipment is also retained for three years.
Source: Hungary Around the Clock
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