Monday, July 23, 2018

First-time industry development program slated for Sverdlovsk region

The Sverdlovsk region's government announced at a November 17 conference that it was creating a specialized industry development initiative aimed at developing a cooperative business community within and beyond the region.

In December, a roundtable discussion will be held with representatives from Sverdlovsk's various defense enterprises to discuss planning for the new industry development program, Ural Business Consulting reports.

Severdlovsk regional governor Evgeny Kuivashev said that until now the region has boasted strong industry but has never organized a program to ensure its future successes. No such program exists on the federal level either, according to Ural Business Consulting.

Kiuvashev said that the program will set revenue targets for each branch of industry within the region. If an industry has trouble reaching those targets, the program allows for relief to be extended, including tax reductions and state support.