Coronavirus: Increasing Incentives for Industry 4.0

It’s clear that the Coronavirus epidemiological emergency will have a huge impact on the economy. Although it’s still early to quantify it, there is already a need to activate as soon as possible support, recovery and growth measures for companies.

In response to this situation, the Government is planning to increase the incentives for Industry 4.0. The communication came from the Minister of Economic Development Stefano Patuanelli, who suggested a series of initiatives aimed at stimulating investments in the manufacturing sector.

Industry 4.0 after the Coronavirus emergency

“Increasing investment thresholds that can be incentivized with tax credit or tax benefit percentages.” Minister Patuanelli recently said, adding “Furthermore, this crisis may be an opportunity to permanently allocate resources to make incentives triennial, after the maneuver had made a first commitment on this regard.”

In particular, it’s important to invest in innovation. According to the Minister of Economic Development, even before the Coronavirus emergency we needed to encourage investments in Industry 4.0, so today it’s even more urgent. “A month ago, macroeconomic data had already highlighted the need to support of the real economy, now with the effects of Coronavirus a much greater effort is required” and “We evaluate whether to increase the thresholds of investments that can be incentivized with the tax credit or the percentages of tax benefit.”

The former Minister of Economy Pier Carlo Padoan agreed saying that “the experience of 4.0, which has been going on for a few years, tells us that the incentives for companies to support innovation and growth are very effective and therefore it’s important to finance and refinance them.”

In conclusion, to fight the long-term effects of this emergency, we need a fast and effective plan to reinforce Industry 4.0.

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