Slovakia has won a major investment from U.S. company Honeywell International, which has been pondering over the location of its new investment in Central Europe comprising a turbocharger production plant. The project should generate some 446 jobs for the region and cost the company around EUR 38 million.
The company has finally decided on a location near Presov and has already submitted its investment details to the Ministry of Economy for review. The project has already undergone assessment in terms of legislative rules, and so now will wait for a decision on investment stimuli, which could be as direct financial assistance for the acquisition of tangible and intangible assets or the creation of direct jobs. Other options include receiving a tax holiday.