07 November ‘22

MMK Industrial Park Receives Federal Accreditation

MMK Industrial Park CJSC, a business investment platform for medium and small businesses, has confirmed the compliance of the industrial park and its management company with federal requirements for receiving incentives to stimulate industrial production. The corresponding order was signed on 1 November 2022. Federal accreditation enables MMK Industrial Park and its residents to continue to benefit from the tax incentive system for an additional five years, which are provided with the support of the Chelyabinsk Region Government and the Magnitogorsk city administration.

MMK Industrial Park has been operating on a fully self-sufficient basis since its inception in 2016, with all earnings reinvested in the modernization and development of industrial infrastructure. During this time, the management company has invested RUB 327 million in projects that included the reconstruction of buildings, roads and railways, as well as energy pipelines and gas networks.

Currently, 41 residents operate on the site. Since the launch of the industrial park, they have invested over RUB 1.5 billion into their own production and created approximately 1,000 new jobs. Residents manufacture more than RUB 3 billion worth of products annually and pay over RUB 230 million a year in various taxes to budgets of all levels.

The industrial park’s investment in infrastructure is supported with 5x investment by residents, which exceeds the Russian industry average. The current level of commercialisation of production space at the park stands at 83%, or 18% higher than the Russian average.

At the end of 2021, MMK Industrial Park ranked second in its category in the annual national ranking of industrial parks and special economic zones compiled by the “Expert” Information Agency.

 

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