Do you need to expand, but are concerned about the costs of doing that in
the UK in the current economic climate?
Invest Lithuania is very keen to attract high quality R&D and Development jobs to Lithuania, and is currently actively targeting UK companies who are considering the development of R&D activities or the opening of new facilities.
For those who don't know Lithuania is one of the three Baltic States who regained independence in the early 1990's, and joined the EU in 2004. The country has the best educated workforce in central and eastern Europe, and was known as the Silicon Valley of the Soviet Union. The government is keen to build on the skills of the people and the country's scientific and technological heritage by investing heavily in the development of the knowledge economy.
This year the government has invested 1 billion euro in the development of five world-class commercialisation hubs covering a wide range of areas, including Technology, Bio Technology, Pharmaceutical, ICT, Agriculture and Marine Biology. These centres will focus on the development of world class businesses.
The government is also making a range of generous financial incentives available for international companies interested in developing their business in Lithuania. The support is a mixture of direct grant support and generous tax incentives (for example a company can access up to 6 million euro at 70% support intensity to support R&D projects).
Apart from the quality and cost of the workforce, and the financial incentives, Lithuania is also a very nice place to visit and live, with the 2009 Quality of Life index ranking Lithuania 13th in the world, above the UK. It also has the best internet and mobile penetration and usage in Europe.
It is worth stressing that Invest Lithuania is interested in targeting smaller companies with high growth potential, and we are currently supporting two companies who are looking at establishing teams of around six people, so all projects will be considered and could attract support.
If you would like to have an initial discussion about potential opportunities for your business then please email Charles Cormack (charles@ccbaltic.eu )