Lviv allocates UAH 17M to create processing enterprises.

Local communities have begun to participate in co-financing of a state grant program to stimulate processing enterprises’ development. The city government of Lviv has allocated UAH 17M for compensation to business people who create processing enterprises, the Ministry of Economy reported.

Local governments will co-finance the percentage that the company itself has to invest. Under the terms of the grant program, the state covers half of the funding, half of the cost of processing equipment, but not more than UAH 8M, and the remainder is the entrepreneur’s responsibility.

Vouchers will be issued in Lviv to help the enterprise cover its share. The voucher amount is from UAH 80,000 to UAH 2M, depending on the number of new jobs created. To receive the maximum grant amount, the entrepreneur must create 25 jobs. Lviv administration will cover up to 25% of the investment amount but no more than UAH 2M.

According to the ministry, agro-processing is one of the most popular destinations for grant support.