🌴 Canary Islands Government Announcements

Canary Islands Department of Economy Approves Ten-Year Funding Plan Update

Published: December 18, 2025|economy-and-business|Gobierno de Canarias

Canary Islands' Strategic Subsidy Plan Update for 2024-2026

Overview

The Canary Islands' Department of Economy, Industry, Trade, and Self-Employed Workers has approved the tenth modification of its strategic subsidy plan for 2024-2026. This update introduces new funding allocations aimed at boosting local economic diversification and industrial growth.

Key Initiatives

  • €800,000 fund for business services through chambers of commerce
  • €20,000 for local economic diversification
  • €1.45 million dedicated to the Digital Hub project
  • €100,000 each to promote sustainable industry initiatives called INDUCES FEMETE and FEMEPA

Objectives and Goals

This strategic revision underscores the government's commitment to transparency and targeted support for sectors vital to regional economic resilience. By adjusting the subsidy plan, authorities aim to:

  • Foster entrepreneurship
  • Promote technological innovation
  • Support sustainable industry practices

This plan aims to directly benefit local businesses and residents.

  • The move aligns with legal requirements to ensure fiscal responsibility and strategic planning.
  • It follows years of updates reflecting budget changes and policy priorities.

Public Engagement

  • Publicizing these measures reaffirms the government’s effort to keep residents informed about how public funds support economic development in the Canary Islands.