ECU 3.3 million for conversion of Swedish arms industry
The European Commission has awarded ECU 3.3 million from the Structural Funds to support the economic diversification of regions heavily dependent on the defence industry in Sweden. The money will come under the KONVER Community initiative and will be in addition to national and private sector funding. The funding will go to the towns of Karlskoga and Karlsborg and will support the creation of 350 new jobs and 40 new companies, as well as providing training for some 300 people. The bulk of the money will go to actions such as technology diffusion, technology development, and the development of trade and industry, including tourism, which will promote the creation of new companies and the strengthening of existing ones. In addition, money will go on training activities, in particular for managers and employees of SMEs.
Kraje
Sweden