Italy

Italy

Establishes a new special economic zone

23 Jul 2019

On 23 July 2019, the procedure of establishing the Ionian Special Economic Zone has been completed. It covers the Basilicata Region, the Port of Taranto and Grottaglie Airport​​, as well as the productive areas of Taranto, Grottaglie, Melfi, Ferrandina, and Galdo di Lauria.

It is already the third zone, after the Calabria and Campania SEZs, created under Law No. 91 of 2017 on the urgent development of southern Italy. It aims at providing a range of development tools for less developed Italian regions. The special economic zone programme for Southern Italy allows their creation in port areas, where investors may benefit from specific tax incentives and administrative simplifications.