Detailed Description of Program Components cont.
3. Physical Infrastructure Aid to Northern Businesses
Small "Incubator Centers" and "Business Initiative Centers" will be established in a number of Northern cities, based upon the successful models being currently implemented in Rehovot and in Haifa. The Centers will be overseen by the Chief Scientist of the Israeli Ministry of Industry and Trade.
Small workspaces (cubicles) will be rented to new entrepreneurs in these centers, initially at a symbolic cost. At a later date rent will be charged according to a percentage of the monthly volume of the new business.
A certain amount of funding will be dedicated to renovating and upgrading industrial buildings that have been damaged during the war. These funds will compensate for the difference in actual rebuilding expenses and government allocations (that take into account depreciated value of properties and a deductible when allocating reconstruction funds).
Estimated cost for implementation: $4,000,000