Research Premium Applied for by Around 2,500 Companies

In total, companies submitted 8,648 projects with investments of 8.8 billion euros for a research premium last year. The total funding amounted to 1.4 billion euros, as announced by the Ministry of Economy in a press release on Wednesday.

Research Premium "Advantage for Austrian Location"

An expert opinion from the Austrian Research Promotion Agency (FFG) certifies the companies' eligibility for the project. The FFG supports the tax offices as an independent expert organisation. The tax offices are responsible for the decision on the award of the research premium and the review of the assessment basis. The processing time is given as an average of 40 days. "The international competition for locations requires attractive conditions for business-related research and development activities," said Minister of Economy Martin Kocher (ÖVP). "Even large companies, which have expanded their R&D related activities in recent years, describe the research premium as a significant advantage of the Austrian location."

(APA/Red)

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