LA RIOJA, “WINEDERFUL” FOR YOUR INVESTMENTS. KEY FACTORS OF LA RIOJA AS A DESTINY OF INVESTMENTS

Apart of having the easiest name to pronounce for a non-Spanish speaker LA R-I-O-J-A, L-O-G-R-O-Ñ-O -it is really a challenge and a good exercise, isn´t it?-, La Rioja is “winederful” for Investments.

Winederful is the name of a new, modern, fresh hostel, set up recently in the old quarter of Logroño, the capital of La Rioja. In our region wine sector is source of inspiration for entrepreneurs and the origin of innovation initiatives in viticulture -sensors, drones, oenological products-… the “know-how” concerning wine is so strong here

La Rioja, good wines, and… marvellous landscapes with vineyards – candidates for Unesco world heritage site-. Wine tourism is also a catalyst of important investments -architecture of modern wineries, Wine Culture Museum, efforts to recover caves form the sixteenth century, hotels, gastronomy and so on-. Big Bang Wine Tourism and Wine Park in Haro are recent newspaper articles with illustrative examples of the investing effervescence in the wine tourism sector.

-By the way, Logroño has been chosen by IAGTO, The Global Golf Tourism Organisation, as the Undiscovered Golf Destination of the Year 2019 between 60 destinations… it is a good opportunity to catch the attention and interest of international tour operators-.

The fact is that this territory generates strong links with its business sector, formed by solid small and medium sized companies, most of them with family origin. According to the World Bank Report Doing Business en España 2015, La Rioja is one of the Spanish Autonomous Communities where doing business is easier.

Why? There is a strong coordination between institutions concerning the following and support of a potential investment project. Only one person will deal with you about possible industrial estates, grants and subsidies, funding, licences… The public-sector network is accessible and the bureaucracy processes so agile…

The Entrepreneurial Ecosystem in La Rioja is strong. “Emprenderioja” is the program that encompasses all the entrepreneurship support with some success histories such us Urban Roosters and Bosonit.

The lines of aids for entrepreneurs and investments projects propose subsidies form 35 up to 50 -the latter for medium and high technology sectors- per cent of the investments, personnel costs included. The Development Agency of La Rioja offers up to 2.000.000 € loans at Euribor+1,25.

The Rioja Government is committed to taxes reduction policies. In this sense, there are three axes of action:

  • Reductions in taxes rates. 2% in the autonomous section of the Income Tax; 75% in the Property Tax -the target is 100%-; 99% -the target is also 100%- reduction in Successions and Donations for Transmissions between parents and children.
  • Optimization of taxation of the Patrimonial Transfer Tax and the Tax on Documented Legal Acts to support the recovery of the building sector.
  • Simplicity in the tax structure, removing deductions and transferring their effects to reductions of ordinary rates.
  • Promotion of transparency and legal certainty in the field of taxation.

And we cannot forget the national Spanish support for foreign investments, such us the Visa for Investors.

What about people, talent? La Rioja is an earth of dealers with an intrinsic international vocation. Universities and Professional Training Centres provide good professionals in a wide range of sector -IT sector, for example-.

La Rioja is also a box of surprises as business is concerned: when we go to a football stadium or to an Opera concert anywhere in the world, the seats can be “made in La Rioja”; if we need technical footwear -outdoor, security, cycling- La Rioja is a power; grafeno industry and mechanical presses machinery sectors have relevant exponents in our region …

What do you think about this article? We would be grateful to hear your comments and questions on our email emprenderioja@larioja.org

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