"The budget for the next two years provides for a subsidy of 720 million rubles. This includes subsidies for payment of interest on loans and a zero rate for property tax when implementing large projects," the Krasnodar Territory Administration said.
Business representatives who have loans ranging from 100 million to 1 billion rubles will be able to take advantage of the new measure.
The Kuban authorities are also considering the possibility of introducing a zero property tax rate for large investment projects. Today the region accounts for more than half of all investments in the resort sector in Russia. At the upcoming investment forum, which will be held on the federal territory "Sirius" from 17 to 19 February, the Krasnodar Territory will present more than 50 projects.
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