After years of neglect and deterioration, the former Coepa trade center, once a symbol of state employment, stands as a symbol of revival. This Friday, the Consell’s general assembly approved a plan to move forward. A tripartite agreement among the Valencia Employment and Education Service, the Valencia Institute of Finance, and the Alicante City Hall paves the way for a full restoration. The aim is to transform this deteriorating infrastructure into a functional training center that serves the local workforce.
The property, originally built with an investment of 6.8 million euros and largely funded by public subsidies at the time, has accumulated flaws and suffered from vandalism. It became a frequent gathering point for unauthorized occupants around the Polígono de Babel district in Alicante, drawing complaints from nearby associations whose offices are close to the building. A comprehensive rehabilitation plan has been laid out, with a total budget of 5,050,000 euros to be distributed over several years: 313,500 euros in the current year, 2022; 2,523,500 euros in 2023; 2,163,000 euros in 2024; and 50,000 euros in 2025.
The current interior state of the Coepa Trade Center has been captured by neighbors in recent photographs, illustrating the extent of the disrepair. This funding and framework will guide the project as it progresses through the necessary steps to convert the site into a productive workspace for training and employment preparation.
Under the agreement, Alicante City Council will grant free land to the Works department as needed to construct a Workforce Training Centre. The facility will be a resource for the unemployed and for those seeking to improve professional skills and capabilities. It will also support entrepreneurship and other active employment policies designed to enhance local opportunities.
The City Council will retain ownership of the property and other rights that do not belong to the parcels, including the land allocated for the project. If and when the extension is deemed appropriate, these parcels and all works and installations will be transferred to the City Council at no cost and in full, upon expiry of the current arrangements.
Coepa’s trading post faces decline: looting and uncertain prospects
The arrangement specifies a fifty-year surface-right term, with potential extensions up to the maximum legal limit. In exchange, the Valencia Institute of Finance will cancel a mortgage program that previously supported the building and contributed to the collapse of the former state employer, Coepa, which eventually declared bankruptcy.
The idea of a trade center emerged in 2001, stemming from a tripartite pact aimed at addressing the shortage of skilled workers in sectors like construction and hospitality. Alicante City Council transferred the land, and the Generalitat financed the project with direct subsidies from Servef and a mortgage backed by the Valencia Institute of Finance. The resulting economic downturn reduced the funds available to train the unemployed, and Coepa could not participate in subsequent tenders.
The building has not been actively used since 2012. The IVF began pursuing the loan, but Coepa, deprived of its main income source, could not keep up with payments. The situation worsened when Servef requested repayment of the aid, leading to further financial strain.
The rehabilitation plan is designed to stabilize the site, secure the property, and repurpose the space into a modern, accessible training hub. By consolidating the funds and coordinating among the three overseeing bodies, the project aims to restore confidence in the region’s capacity to develop a skilled, adaptable workforce that can meet current and future labor market demands. The initiative also seeks to mitigate the damage caused by years of neglect, transforming a legacy asset into a proactive center for community renewal and economic resilience.