Magnitogorsk Iron and Steel Works (MMK)’s Industrial Park ranked 30th in the Investment Attractiveness Rating of Industrial Parks and Special Economic Zones according to media group Expert.
In 2018, MMK Park rose by 17 places in the rating, changing the project from a “BB” attractiveness rating (for parks that are quite attractive, but require improvements in services and infrastructure) to a class “A” rating (for efficient and attractive parks).
This is the third year in a row that the rating has been compiled. The methodology for the rating is a site assessment based on six categories: management and services, location, cost of production resources, taxes and benefits, quality of work with residents and indicators of the region location. All calculations are carried out on the basis of open data. In 2018, 101 active sites made the list, in 2017 there were 84 participants.
Last year, the net profit of MMK Industrial Park amounted to 5.5 million rubles.
“We do not see MMK Industrial Park as a business project,” said MMK CEO Pavel Shilyaev. “In our minds, this is, first of all, an effective tool for supporting and developing medium and small businesses, one of the elements is to attract human capital and another is as an opportunity to provide people with alternative growth paths.”
MMK Industrial Park is a business-ready asset complex with an area of 65 hectares. With a comprehensive engineering infrastructure and a developed rail network, it boasts the necessary conditions for the quick launch of virtually any new production process. The park has been accredited by the Ministry for Industry and Trade, which enables its investors to benefit from the tax relief system – zero property tax rate and 3.5% reduction in the regional part of the income tax rate. To date, there are 26 residents on the site. In order to support and enhance the development of business in Magnitogorsk, the management of MMK has begun to co-finance projects implemented by residents of MMK Industrial Park. (MMK/Ukrainian metal)