December 7th 2012-12-07
In the middle of the employees’ consternation, the president of Madrid’s community Ignacio Gonzáles announced the closure of PromoMadrid. Employees are warning that the termination of activities will jeopardise the 43 projects of investment the company was handling at the moment that were estimated in around 1.390 million euros and would create around 13.000 jobs. The company’s mission was to promote the exportation of Madrid’s enterprises, entice foreign investment, and promote Madrid’s brand. Ever since it was created PromoMadrid has handled 144 cases of foreign investment that have generated 1.742 million euros and have created 15.600 jobs. It’s been unavoidable to create comparisons between PromoMadrid and the companies that realize the same activity in other communities of Spain. Catalonia invests 24 times more in their company than Madrid does, and Andalucia invests 30 times more. In 2012 PromoMadrid had 44 employees and a budget of 6,8 million euros.