On July 11, 2006, the Ivano-Frankivsk City Rada gave the green light to a multimillion investment project by approving the sale of a land plot to Tyco Electronics Ukraine Ltd.
The 15 hectare plot in the Khryplyn Investment Industrial Area was sold for UAH 1.8 million (approx. $356,000) and obligation of the company to invest €150 million into production facilities development, eventually leading to about 3,000 new jobs.
The last step for the city to make is now to buy out part of the plot form individual farmers and transfer it to Tyco.
Tyco Electronics’ German subsidiary first came to Ivano-Frankivsk in late fall of 2005 to examine the site. The company signed a letter of intent to purchase it in February 2006. The same month, the then IF Deputy Mayor, Oleh Synyutka, visited the company’s headquarters in the city of Bensheim, where the management of Tyco Electronics confirmed their investment plan to construct a new enterprise in the Khryplyn Area. The parties also agreed on registration of the company’s subsidiary in Ivano-Frankivsk and sale of land to Tyco Electronics.
The Ivano-Frankivsk government offers land plots in the Khryplyn Investment Industrial Area to investors with packages of documentation already prepared in an “impersonalized procedure.” The city is Ukraine’s first to have implemented this innovative approach.
The Khryplyn Area, 419 hectares, was created for the purpose of attracting investments into priority industries, upgrading existing enterprises, and creating up-to-date production, transport and market infrastructures. The area, where all utilities are in place, enjoys a system of privileges and preferences, such as prompt solution of procedural issues, streamlined construction permitting mechanisms, and integrated administrative support of investment projects.
Tyco Electronics’ web site claims that the company “is the world's largest supplier of passive electronic components and a major producer of active components” for computers, telecommunications equipment, industrial machinery, aerospace and defense applications, automobiles, household appliances and consumer electronics.
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