Titanium Valley to create 17,000 jobs

22 December 2010 (11:20)

The decision to set up Titanium Valley in Verkhnyaya Salda, Sverdlovsk Region, is key to the region’s development for decades to come, Governor of Sverdlovsk Region Alexander Misharin says.

‘This special economic zone will offer businesspeople tax relief schemes and a special customs regime, which means everything will be organized so as to promote the breakthrough development of the enterprises based there. All this will push our innovational projects even further,’ the Governor observes.

Alexander Misharin explains that at the moment, there are six companies willing to sign an agreement with the region’s government and acquire a resident status: Arvi, SR Systematics, Mashprom, United Aircraft Engineering Corporation (OAK), and MAG. In addition, about twenty more companies expressed their interest in the project. It has been estimated that the potential investors will bring about 40 billion RUR into the enterprise-setting process a the start of the program.

Governor Misharin also says that 17,000 new jobs will be created in Sverdlovsk Region through the Titanium Valley project.

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