The Taipei City Government will expand its business subsidy program to encourage private investment and create jobs with rent and salary subsidies starting in September.
Under the city’s regulations on the development of local industries, the city government provided private businesses with low-interest loans or zero-interest loans, and subsidies on rents, taxes and training programs and has offered NT$112 million (US$3.7 million) to 112 companies since last year.
Taipei Mayor Hau Lung-bin (郝龍斌) said yesterday that the city would expand the business subsidy program in September after the city council approved its amendment to the regulations. Under the amendment, companies can apply for employment subsidies to receive NT$10,000 per month for one year when they hire a new employee.
The city will also provide a rental subsidy to applicants starting their enterprises, subsidizing up to 50 percent of their rent for the next five years.
“Thanks to the business subsidy program, we have successfully attracted private investment of almost NT$1.5 billion and created more than 800 job opportunities since last year. The expansion of the program will create a better work environment,” he said yesterday at Taipei City Hall.
As one of the business owners who benefited from the subsidy program, Johan Liu (劉宗翰), manager of Victor Rackets Ind Corp’s Advanced Product R&D Department, said his company received NT$3 million from the city government as a subsidy for research and development of new badminton rackets.
As one of the world’s best-known badminton racket manufacturers, the company established an R&D center in Taiwan in 2008, and the subsidy was a great encouragement for their efforts to keep the company’s roots in Taiwan.
‧ NT$112 million (US$3.7 million) has been offered to 112 companies since last year.
‧ Firms can apply for employment subsidies worth NT$10,000 per month for one year when they take on a new employee.
‧ Rental subsidies also available for applicants starting up a new enterprise.
“We aim to become the No. 1 badminton equipment brand in the world, and will set up a second factory in Taipei City. The city government offers a variety of subsidies for businesses in Taipei, and I think such programs are a great incentive for business owners,” he said.