What is “ Industrial Area Renewal and Vertical Development Project,” and what are the applicable conditions?
- Published at: 2020-01-15 00:00
- Last modified at: 2020-01-16 17:19
1.In view of limited industrial land in urban and non-urban areas, firms in industrial parks propose vertical development to increase more floor area for capital and factory expansions. To counter this industrial land shortage, the Industrial Development Bureau of Ministry of Economic Affairs plans to lead industrial parks to vertical factory space by adopting floor area ratio incentives.
2.To qualify for floor area ratio incentives, businesses should submit their applications to authority concerned, and their projects of capital expansion must meet the following requirements:
(1)located in industrial parks, science parks, or agricultural biotechnology parks which are established by government authorities or private enterprises, and whose floor area ratio is below 240%.
(2)are transforming their manufacturing processes, setting up new factories and expanding their capital at least 450 million NTD/ ha.