The French government is promoting what it calls an “Aerospace Valley” to lure foreign companies to the country’s south-west, the heartland of its aerospace industry.
The area or “cluster” comprises two regions: Midi-Pyrénées, where Toulouse is situated, and Aquitaine, home to Dassault in Bordeaux.
It is part of a 1.5 billion ($1.8 billion) plan by the government’s regional planning body, the CIADT, to set up 15 regional centres of excellence for a number of industries over the next three years. These include telecommunications, health, naval construction and agribusiness.
Companies investing in the Aerospace Valley will qualify for public subsidies, tax exemptions and reductions in social taxes, says Olivier Poncet, director of the Invest in France direct foreign investment agency.
Poncet says the incentives given to foreign companies will be secondary to other attractions of the Aerospace Valley, which include a large skill base and access to suppliers.
Source: Flight International