Aid package to revive local industries

The Balearic government announced a seven million euro aid package yesterday to try and revive local industries. The money will be used to help the industrial, commercial and services industries, according to a government spokesperson, who added that companies in outlying areas with high unemployment would be given priority. Much of the money is coming from funds from Brussels. “We want this aid package to help industries which are trying to develop or need money for investigation work. We believe that the smaller companies, with few employees, should also receive help.” The Balearic government is seeking to diversify the local economy so that it isn't so reliant on the tourist industry. Also, over the last few months hundreds of jobs have been lost in the agriculture and industrial industries because of the economic slowdown. The local government believes that the aid package is an investment in the future and hopes that in years to come the companies which have benefited will become more flexible and able to compete on a larger scale. The Deputy leader of the Balearic government Pere Sampol said “apart from helping the leather and shoe sectors we are also investing in high-technology firms.” He went on to say that he thought that the Balearics had a wealth of potential which had still not been fully exploited.