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November 17, 2014 4:39 pm

Sderot and Gaza Border Communities Factories Receive Helpful Economic Boost

avatar by Anav Silverman / Tazpit News Agency

Sderot. Photo: Tazpit News Agency.

Israel’s Ministry of Economy Investment Center has authorized a string of financial benefits for industrial plants, companies, and corporations in the town of Sderot and the “Gaza envelope” communities.

The financial benefits, totaling a NIS 20 million, include significant financial leniencies that are part of a strategic multi-year program for the development of Sderot and Gaza border communities that were hard hit by Hamas rockets during the recent summer war. Companies within 7 kilometers of the Gaza border that were financially hurt by the war are now permitted to delay financial obligations to the Investment Center and submit aid plans at a later date.

“The administration’s decision is good news for factories in Sderot and the ‘Gaza envelope;’ it expresses our deep commitment to help the region’s economy and the production plants’ existence and success,” said Director of the Investment Center Mr. Nahum Itzkowitz. “The Investment Center will hold professional training sessions for companies in the area, to help them utilize these leniencies.”

According to the Ministry of Economy, the leniencies involve obtaining authorization letters for active plans of which the security situation during Operation Protective Edge affected the factory’s ability to meet the targets and limitations as defined in the authorization letters. The decision will apply to plans approved by the administration from Jan. 1, 2010 and onward.

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The leniencies will apply for 24 months from the day of the administration’s authorization of the decision, allowing the factories enough time to put the authorization letters into effect after the end of the security incidents, which affected the communities of southern Israel and the production plants’ ability to meet the targets of the authorization letters.

“We promised to take care of the residents of southern Israel and we are keeping that promise,” emphasized Economy Minister Naftali Bennett. “Business owners form the backbone of life in the region and we will continue to provide them with all the help they need to succeed, through the Investment Center, and with the aid of all the other bodies and relevant units at the Ministry of Economy.”

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