Non-repayable grants for textile, fashion and accessories starting from September

Non-repayable grants to support investment projects in design, innovation, and valorisation of Made in Italy products, to be built in the factories operating within the national territory.

Starting from September 22nd, small enterprises, established no more than 5 years, operating in the textile, fashion, and accessories industry, can apply for financial aid in the manner determined by the decree of the Ministry of Economic Development, published in the Official Journal.

With an overall budget of € 5 million, this measure aims at supporting the purchase of new machinery, and the invention and use of innovative textiles by talented young entrepreneurs.

Furthermore, Minister Giancarlo Giorgetti signed the decree with the list of the Ateco Codes of companies that are entitled to a tax credit of 30% in favour of the textile and fashion sector, footwear production and leather goods, in order to limit the negative effects of inventories of products  in the warehouse, which increased as a consequence of the Covid emergency.

For the financial aid, the decree has made available € 95 million bis for 2021 and 150 million for 2022.

The tax credit will become active with an upcoming provision of the Revenue Agency which will define the terms and procedures for taking advantage of the financial aid.

Source: https://www.mise.gov.it/index.php/it/per-i-media/notizie/it/198-notizie-stampa/2042590-a-settembre-i-contributi-a-fondo-perduto-per-tessile-moda-e-accessori