Korcula Company Only One In Croatia To Use Government Incentive

Only one single company in Croatia in 2012 has made the most of a government aid programme set up to help companies preserve jobs. That company was Korcula based firm Radez, who received 240,000 euros (32,000 euros) for employee training and to help them through the tough times during the economic crisis.

Out of Radez’s 340 employees, 169 went through training to become qualified welders and working machinery managers, writes Jutarnji list. Radez specialises in the design and manufacture of marine deck equipment and steel structures, and have been successfully operating since 1954 on the world market. With the economic crisis making things tough for the Dalmatian island firm, they decided to make the most of the government initiative, and to the government’s surprise they were the only firm to do so.

“We got a total of 240,000 kuna in state aid, 120,000 in two monthly payments and it has saved us. But we had to cut wages. Our shipyards are failing, fewer orders are arriving from Europe. We are also engaged in the production of smaller tourist cruisers, but even that is declining. At one point we lost our jobs. There was not a single order! We were worried how 340 families from the place of Blato and the rest of Korcula would not be not left hungry. You know, we are the biggest company on the island. We decided to try for State aid and we managed to get the money,” said Radez director Jerko Andrijic.