Construction of Technology Center Production Facility in Ventspils

New Technology Centre Production Facility with area of 4201.4 m2 is being constructed at Ventspils High Technology Park as a part of the project. Technology Center building is planned for multiple purposes – it will be able to accommodate, for example, machinery, metal processing, chemical industry, as well as a large gauge producers.

The goal of the project is to promote the expansion of entrepreneurship, creating new enterprises and jobs by investing into 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 17.08.2015 is being implemented with the co-funding from the European Regional Development Fund. Technology Centre Production Facility total eligible expenses is 3.3 million EUR, from which ~ 42% or 1,4 million EUR is the support funding.