Construction of Electronics Centre Production Facility in Ventspils

New Electronics Centre Production Facility with area of 4312.4 m2 is being constructed as a part of the project at Ventspils High Technology Park for electronics, electro technics, IT and other high-tech products.

The aim of the project is to promote expansion of new businesses, entrepreneurship, and job creation by investing in the creation of industrial spaces in Ventspils.

ERDF support program terms require that:

-          by September 1, 2015 30% of the industrial building should be rented out to at least 3 medium and small manufacturing sector businesses that are not interconnected;

-          by September 1, 2015 at least 30% of the production facility space should be rented out, but 3 years from the completion of the building at least 80% should be rented out;

-          by September 1, 2015 at least 20 new jobs should be created, and 3 years from the commissioning of the building – at least 50 new full-time jobs;

-          the above parameters must be maintained for 10 years after the implementation of the project and receiving of the support payment.

The project from 17.03.2014 until 17.06.2015 is being implemented with the co-funding from the European Regional Development Fund. The total eligible expenditure for the Electronics Centre Production Facility is 3.3 million EUR, from which ~ 42% or 1.4 million EUR is the support funding.