The SPRI Group subsidised 4,300 companies in 2011 with 280 million euros

The group’s funding of the Basque industrial fabric has increased by 53% over the last three years. The SPRI Group manages some 300 million euros a year, which represents 75% of the Department of Industry, Innovation, Trade and Tourism’s total budget. Current expenditure has dropped by 13 million euros and 80% of payments to suppliers are made within 30 days.

Spri, 22/02/2012

Over the last three years, the Resiste Strategy has provided support for 147 groups of undertakings in crisis, which employ almost 46,000 people. 1,808 direct jobs have been created through the entrepreneurship programmes alone. 19 million euros in innovation subsidies for companies employing over 25,000 workers have been granted and 422 international expansion projects have been embarked on by 194 companies with almost 15,000 employees.

The SPRI Group’s balance sheet was presented today at a meeting at its central offices in Bilbao by the Deputy Regional Minister for Cabinet, Planning and Strategy, Pedro Gómez Damborenea, and the Managing Director of the SPRI Group, Tomás Orbea. The group manages 75% of the Department of Industry, Innovation, Trade and Tourism’s budget (some 300 million of the 381 million euros earmarked for 2012), making it the main management instrument of the Regional Ministry headed by Bernabé Unda.

Pedro Gómez Damborenea highlighted the profound change the Department has promoted within the SPRI Group. “We have succeeded in focusing SPRI so that all its efforts are now centred on the business fabric.” Tomás Orbea stressed the fact that the efforts have been geared to the Resiste programmes for aid to company financing, the Compite programme for improving competitiveness and the Lidera programme, which endorses future projects. “We have departed from the non-refundable subsidy model and are now backing competitive environments, encouraging co-responsibility and therefore co-payment. We have focused on providing financing facilities.”