€24 million in EU funding allocated to companies in Kaunas region
The Ministry of Economy and Innovation (EIMIN) has allocated €23.79 million in funding to seven projects of companies in Kaunas region. They will be used to attract sustainable investment in manufacturing, create jobs and provide training for employees.
“Strengthening the economies of Lithuania’s regions is one of our top priorities. We aim for at least 30 per cent of all investment to reach the country’s regions, so this funding will help companies in Kaunas region to grow and modernise, create high value-added jobs and strengthen our country’s competitiveness,” says Edvinas Grikšas, Minister of Economy and Innovation.
Funding of almost €24 million has been allocated to companies operating in three municipalities of Kaunas region. Companies operating in Kaunas District Municipality will implement three projects worth €11.3 million; in Jonava District Municipality – two projects worth €5.7 million; and in Kaunas City Municipality – also two projects, for which €6.8 million have been earmarked.
Five out of the seven projects are planned to produce STEP (Strategic) technologies: these will be developed by two companies each in Kaunas City and Jonava District Municipality, and one company in Kaunas District Municipality.
These investments will be used to establish and expand high-tech manufacturing infrastructure: modern production facilities, automated production lines and state-of-the-art equipment. They will also facilitate the mass production of high value-added products: from civil drone systems to low-emission energy solutions and components of advanced glass products.
It is planned that upon implementation of the projects more than 340 sustainable jobs will be created and employees will be trained. As part of the employee training activities, costs relating to staff salaries and the organisation and delivery of training services will be funded.
The funding is provided from the Just Transition Fund of the European Union. The EU Just Transition Fund supports regions and workers most affected by the transition to a climate-neutral economy. Its funds are used to modernise the local economy and mitigate the social and economic consequences of the transition.