Administrative hurdles are considered to be one of the main obstacles to fostering business competitiveness. Reducing them would boost economic activity and employment growth.
One of the goals of the Community of Madrid Government is to adopt and implement policies to stimulate the economy, improve regulation and the business climate and to foster the creation of new Spanish and foreign investment projects.
In line with the above objectives, the Accelerator will make it possible to identify and introduce measures to streamline administrative procedures, thereby improving the business climate and boosting the competitiveness of the Community of Madrid.
The Community of Madrid Investment Accelerator was set up in response to the need to improve Administrative coordination when handling investment projects considered to be of special interest, by bringing together all the relevant decision-making centres involved in making them happen, smoothing the path to their implementation and providing a single point of contact for the process.
It is a body that enables the fast and efficient processing of projects declared to be of special interest by the Administration.
What is it?
The Accelerator is a collegiate body of interdepartmental nature, in which regional departments responsible for matters related to the creation/expansion of a business project and local authorities of the municipality where the project is to be developed participate.
It may also include technical advisors, as well as other public administrations, and in the case of international projects, Invest in Madrid
What is its purpose?
The purpose of the Accelerator is to streamline the processing of certain projects which, due to their economic impact, the jobs created or other factors, will be declared projects of special interest for the Community of Madrid.
Spanish and foreign promoters of investment projects that have demonstrated their technical soundness, financial viability and meet at least one of the following criteria:
- Generation of at least fifty full-time jobs with indefinite contracts or equivalent .
- They involve an investment in fixed assets, excluding real estate assets, equal to or more than 10 million euros, with the exception of energy facilities.
- In the case of energy facilities, the investment in fixed assets, excluding real estate assets, must be equal to or more 24 million euros.
- Other investment projects that do not meet the above requirements, but that have an impact on the improvement of the Madrid production model or that contribute to the rebalancing of the Madrid economy.
What are the effects of declaring a project of special interest?
The declaration of a project as one of special interest will allow the adoption of a resolution for its preferential and express processing by the heads of the administrative bodies responsible for the procedures that may affect the project, who have participated in the declaration of the project of special interest by the Accelerator
The declaration will be effective from the date on which the resolution declaring the project of special interest is issued, unless another date is stipulated in said resolution, in accordance with the provisions of Article 39 of Law 39/2015, of 1 October.
The declaration of express, preferential processing shall produce the effects specified and laid down in the relevant regulations applicable to the procedure in question, and failing this, in accordance with the provisions of articles 33 and 71 of Law 39/2015, of 1 October respectively.
Where do I apply?
The application must be filled entirely online through the PROCEDURE link, and it must be supported by at least one REPORT containing the following indicative information:
- Promoter Identification: company identification details (primary activity, year of incorporation, shareholders), economic and financial figures (sales, assets, liabilities, centres of work, etc.) and professional experience of the project promoters.
- Project description
- Rationale and goals
- Location: municipality or municipalities concerned.
- Type: expansion, new facility, relocation, modernisation.
- Project content and timeframe: start, milestones and completion.
- Economic-financial viability plan: cash management and indication of available resources: use of equity, state assistance and subsidies, loans, etc.
- Proof of compliance with criteria in article 8.
- Details of investment in fixed assets: R&D&i expenditure, software, intellectual property, machinery, furniture, equipment, vehicles etc., and investment schedule.
- Job creation details: jobs by department, working hours or type of contract and recruitment schedule.
- Other details: investment in R&D&i, economic, social and environmental impact, effects on the structuring of the territory or on the production chain.
- Current status of the application: If processing has already been initiated with other Administrations or departments of the Community of Madrid.
How long does it take to issue the declaration of project of special interest?
The Accelerator will assess the application and issue the resolution classifying the project as a project of special interest within a maximum period of XNUMX working days from the date of submission of the application.
The declaration will be accompanied by the delivery of a stage-by-stage plan or timeline specifying the administrative deadlines the project will move through, so that the investor is aware of the timeframe they are dealing with.