Business development in Panevezys

Panevėžys has signed the Agreement with Lithuanian Business Support Agency for the amount of 5, 5 million EUR with the aim to start Industry Park in Panevėžys.

The municipality has been dealing with this idea for several years: purchased the land, prepared general plans and technical projects, signed the agreements for construction works and a loan.The value of preparatory works equals 2.2 million EUR, out of which 1.5 million EUR was financed by the municipality itself, the remaining part was covered by the state and other sources.

According to the Ministry of National Economy of Lithuania the establishment of a proper industry park with a clear vision and specialization will be a positive turn not only in Panevėžys, but also for the industry, business and science on the national level. The city was the first to fulfill the requirements of the Ministry, presenting the vision of the parkand its specialization - high technologies. After receiving EU support, the infrastructure (building of streets, construction of electricity, water supply, sewage networks) suitable for the development of high technologies will be made in strategically favorable territory of 35 ha by VIABALTICA highway.

The companies of electronics, mechatronics and electrotechnics creating products and services with high added value are planned to be established here. The park will be open for local investors but the most important attention will be given to foreign investments.

As the Director of Administration Stasys Karčinskas says, it is the second (after Sports Arena) important municipal project having in mind financial value. The work and provided financial allocations were not wasted. The most important perspective is that the inhabitants of Panevėžys will find new working places in the established companies.