The Investment Authority recently approved the requests of the Tiberias Municipality and the Mateh Binyamin Regional Council to designate the Upper Tiberias (Egoz) and Macabim industrial zones as Regional Industrial Zones (RIZs) in Development Area A, according to the Law for the Encouragement of Capital Investments.
The Upper Tiberias industrial zone, located in the northwest of the city, spans over 40 hectares (approximately 100 acres) and is designated for high-tech industries with high wages. Currently, it is home to around 40 businesses in various fields, including medical equipment manufacturing, plastics, nonwoven fabric production, printing, food production, and more. The newly approved area is intended for the hi-tech industry.
The Macabim industrial zone, which is currently under development, is situated on the northern ridge adjacent to Route 443, near the Macabim checkpoint, within the Mateh Binyamin Regional Council area in Judea and Samaria.
What does this mean?
Local authorities seeking to define an area as a Regional Industrial Zone must meet the conditions set by the Law for the Encouragement of Capital Investments and the Investment Authority's regulations, including geographic location and an area of over 10 hectares designated for industry.
The grant program operated by the authority allows industrial companies located in RIZs in Development Area A that meet the legal criteria to receive grants of 20% of total investments. Additionally, these factories are eligible for a reduced corporate tax rate of only 7.5%, compared to the standard 23% – a reduction of more than two-thirds.
The grants provided by the Investment Authority incentivize factories to make capital investments, promote process and operational innovation, increase productivity, and drive economic growth, resulting in the creation of high-wage jobs and expanding the job market.
“These areas contribute to economic growth in the region”
Shlomo Attias, Director of the Investment Authority at the Economy and Industry Ministry, stated: "The Investment Authority is committed to developing Regional Industrial Zones over local industrial zones, understanding that these areas contribute to regional economic growth, increase employment opportunities, and provide high-wage jobs. From now on, the industrial zones in Upper Tiberias and Macabim will also be able to enjoy these benefits."