As part of its Technological Park Support Program (Pró-Parques), the São Paulo State government has created an incentive plan for companies setting up in technological parks comprising the São Paulo State Technological Park System (SPTec). The decree, which has already entered force, stipulates benefits for companies that invest more than R$500,000, which have a State added-value sales tax (ICMS) credit of at least R$100,000, and which sell 50% of their total value of goods to manufacturers in São Paulo State.

To pay the State added-value sales tax on the importation of goods acquired to be used in the parks ? including electrical energy - companies can use ICMS credits accumulated up to November 30th of next year. Currently six technological parks have been pre-registered with SPTec - São José dos Campos, Sorocaba, São Carlos (ParqTec), São José do Rio Preto, Campinas (Unicamp Research and Innovation Center) and Piracicaba ? and another two are to be built.

According to the State government, the fiscal incentive program is part of the R$16.2 million agreement entered into by the Department of Development, which aims to build laboratories and business incubators, and to support studies carried out in the parks.