With a bill, Medellín would become a District of Science, Technology and Innovation

Medellín city, capital of the department of Antioquia. Photo: Colprensa – Álvaro Tavera.

With a bill filed before the Congress of the Republic, congressmen from the liberal party seek that Medellín change in the coming years to the District of Science, Technology and Innovation, in order to promote the sector in the city and turn it into a “Valley of the Software ”.

This will be one of the most important projects to be discussed in Congress, bearing in mind that it will bring tax benefits for the technology-based sector and will be the spearhead of the economic reactivation promoted by Mayor Daniel Quintero. “The authors of the initiative and representatives for the Liberal Party, Julián Peinado and John Jairo Roldán, indicated in dialogue with Semana magazine.

As explained in the filed text, the objective of the bill is to give Medellín powers, instruments and resources as a District of Science, Technology and Innovation, to promote the integral development of the city and establish a political and fiscal regime around the sector.

“The Special District of Science, Technology and Innovation of Medellín will develop the policies and programs of science, technology and innovation in the territory that are necessary to generate social transformation, enhancement of capacities, definition of guidelines, tools and spaces that promote knowledge scientific and technological, that contributes to the development and growth of the social fabric and ecosystems of the city ”, specifies one of the articles of the bill.

Therefore, according to the regulations, the capital of Antioquia it would have special powers in the formulation and development of public policies at the national and local level on Science, Technology and Innovation.

In addition, it would create the Council of Science, Technology, Innovation and Reindustrialization of Medellín, which would be in charge of all district policy around the matter. Likewise, a District Fund for the Integral Development of the Special District would be established.

The bill also states that the District of Science, Technology and Innovation would grant a series of incentives to those companies in the sector that want to invest and / or establish themselves in the capital of Antioquia.

Tax benefits in income tax, ICA and complementary for technology-based companies that are installed in the Special District of Science, Technology and Innovation of Medellín, expressed gradually over 10 years from the enactment of this law, explains article 11 of the bill filed.

If the project is approved, according to the text, the percentage decrease in income would be 100% in the first and second years; 70% from the third to the fifth year; 50% from the sixth to the eighth year, and 10% from the eighth to the tenth year.

The percentage of reduction of the VAT obligation in the services of the special district of Medellín, on the other hand, would be: 100% in the first and second year; 70% from the third to the fifth year; 50% from the sixth to the eighth year, and 20% from the eighth to the tenth year.

It should be noted that the filing of the bill before the Congress of the Republic occurs days after a study of Rest of the world make known that Medellín is among the six most prominent cities for information technology in the world.

According to the magazine Semana, the banks support the initiative, which is why, in the next few days, the bill will begin its processing before the Congress of the Republic.

Here the full text of the bill

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Myrtle Frost

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