Viana do Castelo: Chamber exempts Borgwarner who invested 90ME and created 500 jobs in Viana | Newspaper C

“There is an increase in investment. Initially, an investment of 25 million euros was planned and the creation of up to 300 jobs. At the moment, there are almost 500 jobs. There is already a guaranteed investment of 90 million and the prospect of reaching 120 million”, explained the president of the municipality, Luís Nobre.

When presenting the proposal to the municipal executive, meeting today in an ordinary session, the socialist mayor stated that the increase in investment and jobs “are determining factors” for the exemption approved unanimously.

Luís Nobre said that the exemption from licensing fees, provided for in the municipal incentive regime, “involved administrative support for licensing and the guarantee of a set of water, sanitation, electricity, fiber optics and parking infrastructure for the business park and Lanheses” .

Luís Nobre highlighted the “very innovative activity” of the American multinational in the production of electric motors for the automotive sector, which consolidates that ‘cluster’ in Viana do Castelo, and points to “a future” for that industry.

“It gives us security of consolidation in the automotive sector, which is relevant to the municipality. Borgwarner ends up transforming itself, combining the two investments it has in the business park and Lanheses, one of the main investors in the municipality”, he highlighted.

In 2021, the municipal executive unanimously exempted the American multinational from paying the Municipal Tax on Onerous Property Transactions (IMT) for the acquisition, from the company Enerconpor-Energias Renováveis ​​de Portugal, of a plot of land, measuring 78 thousand meters squares, in the Lanheses business park, for the value of 4.3 million euros, for the construction of a second factory worth 25 million euros, and the creation of another 300 new jobs.

The IMT exemption requested by Borgwarner, which established itself in the municipality in 2014, through the transfer of ownership of the land resulted in support for investment worth 279,500 euros.

LUSA