Firms lured to Jerusalem

Tuesday, December 13, 2005 |    

The government will subsidize hi-tech companies and workers who move to Jerusalem, as part of $12 million (50 million shekel) plan to strengthen the capital. The plan also calls for awarding grants to entrepreneurs who launch startups in one of Jerusalem's technology incubators; to companies that move to Jerusalem; and to new companies established in the city. The government believes that this package will create hundreds of new jobs in the capital. New companies that open in Jerusalem or veteran companies that relocate there will be eligible for grants during each of their first four years in the capital. Existing Jerusalem firms that expand will also be eligible for grants.

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