Companies hiring 15 or more new employees who receive a “high salary” (more than 2.5 times the average salary) are entitled to grants at an average rate of 20% of each employee’s salary, for four years. The grant is provided by the Ministry of Economy and Industry. Only companies located in “national priority” areas and Jerusalem are eligible for the benefit.
What is the benefit?
The grant offers partial funding of employee’s salaries for a duration of 24 months, and up to 30,000 NIS of the employee’s monthly salary.
For the first year (the first 12 months) – funding will be provided in the amount of 30% of the employees’ salaries.
For the second year (from the 13th month until the end of the 24th month) – funding will be provided in the amount of 20% of the employees’ salaries.
Who is eligible?
Corporations) excluding HR companies\ recruiting agencies), who work in one of the industries specified in the appendix to the regulation (Manufacturing, Information and Communications, Professional Services)
Government corporations in the free market, which are not budgeted or subsidized by a government institution.
For further information please visit the Ministry of Economy website (in Hebrew)
