State support infrastructure:In the Vologda Region for investors there is a wide range of state support measures of both the federal and regional levels, which include different forms of support in investment project realization. More details about the state support system.
State support system in 2017:
One of the most effective tools for large investment project is the Federal Industrial Development Fund:
In 2017 the Industrial Development Fund of the Vologda Region was launched in a pilot mode. The enterprises can apply there for loans at the rate of 5% p.a. up to 5 years for the creation, reconstruction and modernization of the manufacture. The project is being realized together with the Federal Industrial Development Fund: 30% of a loan is financial means of the regional budget, 70% - finances of the Federal Fund. The Fund was established by the Order of the Governor Oleg Kuvshinnikov with regard to the Vologda Region law “On industrial policy in the Vologda Region”. Due to this fact the industrial enterprises of the region got the new effective tool for development of their manufactures:
State support of an investment and entrepreneurial activity in the Vologda RegionVologda Region Department of Economic Development
The state support of an investment and entrepreneurial activity is implemented within the framework of the State Program “Economic development of the Vologda Region for the years 2014-2020” (approved by the Government Decree of 28 October 2013 №1111) and in accordance with the Regulations on the provision of subsidies approved by the Government Decrees.
Инфраструктура предоставления государственной поддержки:
- Vologda Region Department of Economic Development
- Regional Center for Entrepreneurship Support of the Vologda Region
- Business Incubator
- Fund for Resource Support of Small and Medium Entrepreneurship
Certain kinds of support are provided by the City Development Agency (Regional Guarantee Fund, Innovation Center for Social Sphere, investment projects support), Regional Industrial Development Fund (based on Business Incubator, Vologda Region Development Corporation (investment projects support).