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07/16/2012

Prefecture to revive subsidies to attract factories

The Shiga Prefectural Government (SPG) decided to revive subsidies to attract factories after three years' absence triggered by the financial crisis in 2008. This revival, already having encouraged a corporation to make a large-scale investment in the prefecture, is expected to give the prefecture a competitive edge. The SPG has allocated 150 million yen (approximately 1.8 million US dollars) as its funds for FY2012.

The new subsidy system is called the Initiative to Support Manufacturers Operating in Shiga, which will give maximum 200 million yen (approximately 2.5 million US dollars) in total in the next several years to a corporation scheduled to establish an R&D institution in Shiga. This initiative is designed to cover the manufacturing industry, the environmental industry, and the health care industry.

The efforts have already born fruit. A Osaka/Tokyo-based manufacturer Sakata Inx Corporation decided to purchase 10 blocks in the Maibara-Minami Industrial Park, paying 2.7 billion yen (approximately 33.8 million US dollars) to acquire the land which totaled about 140 thousand square meters.

(Nikkan Kogyo Shimbun, July 12, 2012)

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