American IT company Lineate to invest $700,000 in Georgia, create 50 jobs
The American IT company Lineate will invest $700,000 in Georgia and create at least 50 new jobs after signing an agreement for a foreign direct investment grant with Enterprise Georgia. Photo: Enterprise Georgia
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The American IT company Lineate will invest $700,000 in Georgia and create at least 50 new jobs after signing an agreement for a foreign direct investment grant with Enterprise Georgia, the state programme promoting entrepreneurial activity in the country on Thursday.
The Georgian agency said Lineate was the first company to benefit from the programme in the latter’s support for foreign investment projects, and would receive a 15 percent cashback of its investment in the form of a grant after fulfilling investment requirements.
Lineate has been operating in Georgia after opening its regional office in the country earlier this year. The company currently employs around 85 people.
Enterprise Georgia director Mikheil Khidureli said on social media the FDI grant programme played "a significant role" in attracting American investment in Georgia.
The FDI grant state programme can be used by international companies operating in advanced manufacturing such as production of electric, automobile and aviation parts, business process outsourcing as well as IT, logistics and aircraft maintenance.
The state programme has said its aim was to support potential and existing investors in Georgia in initiating new or additional investments in sectors with high-value added, and in turn ensure creation of new jobs and contributions to the economy.
Combined Ratio Solutions, an American IT company, has started operations in Georgia with the support of the Enterprise Georgia state programme, the agency announced on Tuesday.
American business services company Concentrix has announced that it will now start offering remote services from its Georgian office. An official statement of the company reads that Georgia was chosen as the newest Concentrix location due to its 'solid, highly educated and multilingual workforce, as well as its focus on the services sector and reliable network connectivity'.
US custom software engineering company Exadel is opening an office in Georgia as part of the Georgian government’s initiative to offer favourable terms of taxation to companies that obtain the status of international company in the country, announces Georgian Economy Minister Natia Turnava.
US information technology company EPAM is the first company that is opening an office in Georgia as part of the Georgian government’s initiative to offer favourable terms of taxation to companies that obtain the status of international company in the country, announces Georgian Economy Minister Natia Turnava.
Spain was Georgia's major foreign direct investor country in the third quarter of 2022 with $165.9 million, followed by the United Kingdom with $122.9 million and Ireland with $120.3 million, the National Statistics Office of Georgia reported in its latest figures on Friday.