Thu, Nov 16, 2006 - Page 12 News List

CEPD has new rent offer for idle land

By Jessie Ho  /  STAFF REPORTER

The Council for Economic Planning and Development (CEPD) has announced a new measure to encourage the use of idle state-owned land and boost private investment.

The government will allow companies to rent the government's idle land for four years rent-free, and then at half-price for the next six years, the council said in a statement released yesterday.

The first company to apply for the incentive is expected to move into the Tatung Technology Park in Shulin (樹林), Taipei County, by the end of the year, the statement said.

If all 5 hectares of land in the park are rented, there would be NT$17.5 billion in investment and more than 4,000 jobs created, the council said.

Following the lead of the Taipei County Government, the Tainan City Government plans to make the incentive applicable to private companies for sites in Anping District, the council said.

It said that the amount of the land eligible for discounts will reach 100 hectares in three years.

The government already has a preferential program for industrial land, the so-called "006688" program. It gives companies wanting to set up shop in industrial zones rent-free status for the first two years, a 40 percent discount off their rent for the third and fourth years, and a 20 percent discount for the fifth and sixth years.

However, the "006688" program is due to expire at the end of this year.

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