Wroclaw already accommodates the centres of the largest financial sector institutions, such as Credit Suisse i BNY Mellon. UBS will be another from the list of leaders in this sector to have its centre in Wroclaw. For these reasons, in January "Financial Times", in the article "Poland draws big banks for nearsourcing", included Wroclaw among top European outsourcing centres.
At least 200 new jobs
As a part of the Wroclaw investment, the Swiss plan to create at least 200 new jobs and incur investment expenditure of at least 3 million PLN. Recruitment is expected to start in December 2015.
"Accomplishing the investment will be crucial especially for the young people of the region with education in economics, technology and IT. The result of the proposed project will be implementing superior business services in the region, as well as conducting B+R works in the field of highly advanced IT systems. This will significantly affect the region's importance and prestige in the entire country" points out Dariusz Ostrowski, CEO of ARAW in Wroclaw.
UBS in the special economic zone
In Wroclaw, UBS considers locating their centre in the rented office space at pl. Dominikański and ul. Ruska. To encourage the Swiss to invest in Wroclaw these locations are to be included within the borders of the Legnica Special Economic Zone. Still, the councilors of the City Council of Wroclaw need to consent to this at the Thursday's session. Preferences resulting from operating in the zone will be available only for the UBS, or any other investor who will start business services in these locations, and not for the property's owners.
"This will relieve the UBS from income tax, for a specific amount of time and in a specified amount, related to the size of the investment. It will not be a loss for Wroclaw, because the vast majority of the money will be going to the state budget. The city will benefit from the investment, because this is where new jobs for specialists will be created. Later they will be spending their earnings here: pay their PIT tax, shop, and use the kindergartens and schools" stresses Dariusz Ostrowski.
Opinion of the city councilors regarding the SEZ
To expand the boundaries of the Legnica Special Economic Zone in Wroclaw, an opinion of the City Council is required. The resolution of this matter will be voted at the session on 19 March. The decision to extend the zone will then be taken by the Council of Ministers.
"If not here, then where? Surely outside of Poland, because the amount of investment incentives in many countries has already exceeded our expectations. Development of special economic zones, of forms and the volume of public aid instruments, government grants for local preferences is experiencing a real boom" says Dariusz Ostrowski.
What is a Special Economic Zone?
Special Economic Zone is an administratively separate part of Polish territory, where entrepreneurs carrying out new investments can benefit form of exemption from the income tax, due for business run in the zone and activities specified in the permit.
There are 14 Special Economic Zones in Poland: Kamienna Góra, Katowice, Kostrzyn-Słubice, Kraków, Legnica, Łódź, Mielec, Pomeranian, Słupsk, Starachowice, Suwałki, Tarnobrzeg, Wałbrzych and Warmia/Mazurian.
Currently, Wroclaw is included in the Wałbrzych SEZ, including 14 companies.
