Capital of the North (territory of advanced development)

2024: Approval of the project by the Government of the Russian Federation

On August 8, 2024, Russian Prime Minister Mikhail Mishustin signed a decree on the creation of a territory for advanced development (TOP) "Capital of the North" in Arkhangelsk. This decision is aimed at ensuring the integrated development of the city, increasing its investment attractiveness and creating additional incentives for housing construction. The total investment in the new project is estimated at ₽24,8 billion.

The creation of the TOP in Arkhangelsk provides for the implementation of several investment projects. In particular, one of the companies plans to build an enterprise for the production of pharmaceutical products based on the extracted crystalline iodine from the deposit in Severodvinsk. Another project involves the creation of the production of reinforced concrete products, which will contribute to the development of construction programs and infrastructure projects in the North-West of Russia. Also, within the framework of the TOP, it is planned to build a data processing center in Arkhangelsk, which will allow enterprises and organizations of the city to implement their digital projects and increase efficiency.

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According to the head of the Arkhangelskaya region, Alexander Tsybulsky, the creation of the Capital of the North TOP will attract over 180 new jobs and significantly improve the economic situation in the region.

Residents of the TOP will be able to take advantage of special conditions for doing business, including benefits and preferences, which makes Arkhangelsk attractive to investors, - said Tsybulsky.

The project is financed from the federal budget under the state program "Socio-Economic Development of the Arctic Zone of Russia." TOR provides residents with access to a wide range of benefits, including a free customs zone procedure, which facilitates entrepreneurial activity in this territory.^[1]

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