\ The approved amount will finance 2024 the calls for aid for major actions, industrial modernization, and digitization.

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Modernization and digitization of Balearic industries

\ The objective of these subsidies is to promote investment projects that allow the islands’ industries to advance in competitiveness and productivity.

The Consell de Govern has authorized an investment of 3,880,000 euros to finance 2024 the calls for aid to promote major investment actions in industrial companies in the Balearic Islands, as well as aid for the modernization of the productive and digital structure of industrial activity, as proposed by the Conselleria de Empresa, Empleo y Energía.

These calls of the Directorate General of Industry and Industrial Estates, aim to reverse the situation of the weakness of the industrial sector of the autonomous community, as they respond to problems they face such as lack of investment in R+D+I, loss of productivity, relocation, shortage of specialized labour training, the small size of companies and high costs of supplies and transport.

Specifically, the objective of these aids is to promote investment projects that allow the industries of the islands to advance in competitiveness and productivity, favouring innovation and business growth. These calls are aimed at modernizing the sector, both in terms of production and management processes; advancing towards the digitalization of the industry and overcoming the technological leap that the industries of the islands have to face.

The aid will be aimed at promoting the industrial fabric, encouraging the modernization of management systems and production systems, as well as improving the productive fabric and the strategic positioning of the industry within the territorial scope of the Balearic Islands, through the acquisition of intangible assets associated with the industrial process.

These actions are contained in the Program for the Improvement of competitiveness and Industrial Productivity for the year 2024, approved last November by the Ministry of Enterprise, Employment and Energy and previously by the Council of Industry of the Balearic Islands.