News

The Provincial Council of Valencia has generated 1,207 jobs in the province of Valencia through its Financially Sustainable Investments Plan

The activities funded through this Plan increased GDP in the Valencian Community by 60.7 million euros

The Financially Sustainable Investments Plan carried out in 2016 by the Provincial Council of Valencia funded 1,581 projects for 840 participating firms, with a total investment of 69.1 million euros. According to the economic impact analysis report developed by Joaquín Maudos and Eva Benages, the Plan has generated a total impact of 148.2 million euros in terms of output (sales), 60.7 million euros of income (value added or GDP) and an equivalent of 1,207 full-time jobs during one year.

The investments made in the 266 municipalities of the province of Valencia are mainly destined to improve infrastructures and services to citizens. Specifically, 85.4% of the investments were designated to businesses related to construction and 10.5% to the services sector. Most of the participating firms, 91.1%, are from the Valencian Community and 80.3% are located in the province of Valencia.

Of the total income generated, 47.7% corresponds to direct impacts, while the remaining 52.3% to indirect and induced impacts derived from initial investments. The services sector concentrates the highest percentage of economic impacts generated by this Plan, approximately 69% of the total, both in terms of income and employment, followed by manufacturing and construction with 10% and 16%.

Joaquín Maudos, Ivie’s Research Deputy Director, highlighted in the presentation of the study the Plan’s power to boost the economy, since every euro invested has generated nearly one euro of income in the Valencian economy, in addition to activating the labor market.