The Generalitat was forced to come to the aid of Society Projects for Digital Transformation (STPD)). The delicate economic situation created by the works of the new headquarters of the Port of Alicante, the Volvo Ocean Race, the high costs of materials or taxes is difficult in a context where income is generated only by renting space to companies. Capital increase of 21.2 million eurosin order to guarantee the viability of the project for the remainder of the year and next year. Consell believes reactivating filming in Ciudad de la Luz will serve to generate new revenue and revitalize the institution.
The issue will be formally discussed at the SPTD board meeting this Monday. According to the information obtained by this newspaper, from the budgets approved for 2023, it will be proposed to increase the share capital of 21,199,894.96 to a single partner, that is, the Generalitat. Euro per monetary contribution issued 57,524 new registered shares with a nominal value of 368.54 euros each.
The statement in the file is as follows: “The capital increase foreseen for 2023 in the Generalitat Budget Law should be increased to a single partner. It is necessary for the fulfillment of the obligations already contracted by the business. “It must be accepted by Consell before 31.12.23 and 25% must be paid on the date the contract is accepted.”
In fact, the company’s financing activities for the 2023 fiscal year The Generalitat’s budget already allocates the amount for this capital increase. The operation formed the basis for the preparation of the company’s budgets for 2023 and 2024. This means there is already a budget allocation for the extension, so all the council needs to do is request this extension from the Capital Authority and Consell will approve it before the end of the year. With this contribution, SPTD can complete the year in a healthy way and start the next year without any problems..
Part of the reason for this situation is this: The company estimates it will only generate operating income contributions of €1.70 million during fiscal 2023. largely linked to activities related to the Digital Zone, which has become a co-working space rental service in Alicante, as the new regional Manager has maintained from the beginning.
The planned expenditures during the year amount to 34.72 million Euros.It must be covered by the capital increase and the company’s equity capital, from the liquidity in the current account, from the balance at the end of the 2022 fiscal year, or from the collection of existing debts.
The expense budget includes issues such as the start of the Volvo Ocean Race, which should be allocated for this year even though it has been paid for in recent years. Specifically, for this last concept the company needs to pay 6.5 million plus 3.5 million in fees for the organization and the village. There are also some additional expenses that increase the cost of the races to 11 million excluding VAT.
We must also add the actual investments of 7 million euros in the Volvo Ocean Race. 5 of these were related to the work of the Digital Zone headquarters at Pier 5 of the Port. Considering that the energy bill has jumped to 4 million (three years ago only 900,000 euros were allocated), that maintenance costs another 4 million and staff another million, material and tax expenses also emerge. Likewise, 700 thousand euros of tax, 700 thousand euros of security and 500 thousand euros of cleaning fee are paid.
Similarly, The company has high value external contractsJust as with Distrito Talento, which represents 800,000 euros per year, another to attract international companies for around 900,000 euros for the next three years.
In any case, a message of peace is being sent from the Ministry of Innovation, Industry, Trade and Tourism and the SPTD council, led by Nuria Montes. They explain that with this capital increase, the viability of the project is guaranteed and the first steps towards the revival of the company are strengthened. and especially the Ciudad de la Luz studios; they are intended to become an important economic asset for both the province of Alicante and the Valencian Community.
There is a belief that the City of Lights has enormous revenue-generating potential, as evidenced by the interest shown by national and international operators in the use of the facilities since Brussels lifted its veto on filming in the middle of last year. The idea is that an operator of international prestige will manage them directly, but in the meantime the SPTD management is already working to provide activity to the facilities, as evidenced by the Netflix production to be shot in December or the new film of Amenábar to be released in 2019. You will be there in the province for six weeks, starting in February.
Additionally, SPTD’s director, Fermín Crespo, said part of its efforts are to reduce fat in society and Bringing a new approach to the Digital District project to make it more than just a co-working space rental service, considering internationalization and attracting companies. The idea is that these will provide added value to the technological hubs that the Generalitat wants to create in the ports of the Community’s three state capitals.