Benefits for investors in industrial areas in Ashkelon by the government

Benefits for investors in industrial areas in Ashkelon: Finance Minister Israel Katz and Economy Minister Amir Peretz today (Sunday) signed an amendment to the second addendum to the Capital Investment Encouragement Law, so that the spatial industrial areas in Ashkelon that are not yet included in the addendum will be defined as Development Area A.
The amendment was signed against the background of the security threat and the missile attacks on Ashkelon, and following Government Resolution 658 regarding a plan to strengthen the city from December 22, 2020, and it will be submitted this week for approval by the Knesset Finance Committee.
This step is expected to increase investment in the industrial areas of Ashkelon by providing economic benefits and increasing the attractiveness of investors, thus encouraging the creation of new jobs and the relocation of factories to the industrial areas in the city.
In addition to the inclusion of the spatial industrial area to define Development Area A, in recent days the transfer of NIS 60 million has been completed for the development of urban infrastructure under the Ashkelon umbrella agreement, which includes 18,000 housing units and has already marketed thousands of units. In addition, about NIS 8 million was transferred for the protection of the Remez public transportation terminal, and accelerated professional staff work is now being carried out in order to complete and allow a transfer of about NIS 50 million for the construction of a new central station in the city.
Finance Minister Israel Katz: "Ashkelon has suffered a severe blow in recent years, and even more so in recent days, and the real response to anyone who threatens the Israeli home front is further development and construction momentum, things Ashkelon has proven well in the past year as a leader in marketing residential apartments. The Knesset will be a big line for all residents of the envelope, as they will encourage the creation of new jobs and investments, along with strengthening civic resilience and expanding the city's infrastructure, measures that will increase the authority's income and translate into investment in residents. "
Minister of Economy and Industry, Amir Peretz: "The difficult days of Ashkelon illustrate the importance of the decision we made several months ago to make Ashkelon Development Area A. The definition of Ashkelon's industrial areas as Development A will give businesses in the area tax benefits and the opportunity to enjoy ministry grants and benefits. "The economy and industry are like land allocations without a tender and significant discounts on corporate tax, which will lead to encouragement of investments, economic growth and quality employment."