The Canary Islands, often celebrated for their stunning landscapes and warm climate, have emerged as a promising hub for the aeronautics and aerospace sectors. This strategic location serves as a bridge between Europe, Africa, and the Americas, offering unique geographical advantages that make it an ideal site for aerospace operations and innovation.
One of the standout features of the Canary Islands is their exceptional climate, boasting over 3,000 hours of sunshine annually. This provides an unrivalled environment for testing and validating aerospace technologies year-round. In addition, the islands offer cutting-edge technological infrastructure, with state-of-the-art research and development centres. These facilities are complemented by a pool of highly skilled talent, nurtured by local universities and specialised training centres. As a result, the region has become a magnet for both established aerospace companies and innovative startups.
The Canary Islands also offer compelling fiscal incentives designed to attract and support businesses within the aerospace sector. The region boasts a low corporate tax rate of just 4% through the Canary Islands Special Zone (ZEC), and there are further reductions available through the Reserve for Investments in the Canary Islands (RIC). Moreover, businesses can benefit from up to 90% social security fee reductions for new hires, making it economically advantageous to operate and expand within this jurisdiction. Additionally, companies engaging in research and development can avail themselves of attractive deductions in I+D+i, with the potential to deduct up to 45% of their R&D expenses, further enhancing the financial appeal of the region.
Institutional support and a vibrant innovation ecosystem further enhance the islands’ appeal. The commitment from governmental bodies to foster the aerospace industry is evident, providing a conducive environment for companies to thrive. This ecosystem is further enriched by partnerships with local research institutions such as the Instituto de Astrofísica de Canarias and the Advanced Microelectronics Institute among others, which facilitate ongoing advancements in aerospace technology.
