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Pasta investments are good for you

During a time of economic crisis it is difficult to take the risky decision of opening up one's own business. However, a small pasta production cottage industry seems to provide an unexpected boon, with subsidies for investment reaching 60%.

According to the weekly agricultural supplement of newspaper Eleftheros Typos, the “Leader” program that subsidizes regional investments and the Developmental Law are among the tools that can support just such an endeavor.

The regional subsidies program refers to rural areas of the country under the Developmental Corporation of each region, limiting red tape.

The specific program subsidizes the production of pasta, rice noodles, couscous, and similar products. The percentage of subsidization depends on where the invest will take place. Based on the program the upper limit of such an investment on a pasta making industry has been pegged at 300,000 euros.

The other brace for prospective entrepreneurs, the Developmental Law, remains open until the end of February, offering subsidization between 25% and 50%, which depends on where the investment will take place. The minimum investment ceiling is pegged at 500,000 euros for medium enterprises, 300,000 euros for small enterprises, and 200,000 euros for very small enterprises.

Both methods cover outlays for building and environs infrastructures, buying new equipment, product promotion, and studies and placement of quality control infrastructure and accreditation.