The Daugavpils industrial park 'Altop', located in Eastern Latvia, is once again opening its doors to potential tenants with revamped auction conditions aimed at supporting local businesses. The facility, boasting over 11,000 square meters, has been divided into three rental sections, each exceeding 3,000 square meters. Daina Krīviņa, head of the Development Department of the Daugavpils City Council, revealed that the new guidelines will require less stringent conditions on job creation and investment thresholds, making it easier for entrepreneurs to participate in the bidding process.

Under the new auction rules, tenants must provide 20 jobs per rental unit they apply for, which represents a reduction in expected job creation compared to previous requirements. Additionally, the non-financial investment requirement for businesses wishing to occupy these spaces has been lowered to a minimum of one million euros. This adjustment is seen as a significant step towards attracting a broader range of businesses and encouraging economic growth in the region, especially considering the city’s emphasis on smart technology and research.

The Daugavpils Council is keen to evaluate business plans that fulfill the revised minimum investment criteria by 2028 while ensuring job placements are established by the end of the current year. This softer stance reflects a proactive approach to fostering entrepreneurship and development in Daugavpils, which could lead to revitalization in the local economy as new companies take advantage of the more accessible terms offered by the 'Altop' industrial park.