This Monday, November 16, the President of the Republic, Gustavo Petro, sanctioned Law 2286 of 2023 that officially converts Medellin as the Special District of Science, Technology and Innovation of Colombia, which allows boosting the city as one of the cities with the highest economic performance in the region, positioning it at national and international level, having technology as the engine of transformation.
With the Law, the District of Medellín will grant tax exemptions for the promotion of science, technology and innovation activities to technology-based companies that settle in the city.
With this new law, Medellín is endowed with the competencies and legal resources to establish its political, administrative and fiscal regime, in addition to promoting its integral development by taking advantage of the opportunities of the Fourth Industrial Revolution.
“This grants tax benefits to companies that are created or move to our territory to develop Software companies, technology companies. In addition, it provides more autonomy that will allow us to invest resources, with a CTeI fund, in education, social issues, health issues,” said the mayor of Medellin, Daniel Quintero Calle.
There will be direct access, without intermediaries, to international resources through International Cooperation.
In addition, the law authorizes the District Council to create the Pro-Innovation Stamp to finance the Science, Technology and Innovation System, at the initiative of the district mayor.
Medellín will now be able to define Special Treatment Zones to strengthen and facilitate all types of activities focused on Science, Technology and Innovation, enhancing sectors and seeking urban renewal, high accessibility, connectivity and reindustrialization.
“The law will allow us to advance in our great bet of Medellin Software Valley and that is making that, not only thousands of people study information technologies in the city, but even that many are moving to the city. That is why the invitation is: if you are a technology lover, this is your city; if you are a company and want to find the best place in Latin America to set up, Medellín is the right place because Everything Flourishes Here”, added the district governor.
Medellín will have more autonomy over the resources of the Nation in health and education issues, including procedures in the departmental entity.
In 2022, the Congress approved in the plenary session of the Senate the Organic Law, which regulated the functioning of the city as a Special District of Science, Technology and Innovation. Among other provisions is the renaming of local authorities from municipal to district, in addition to allowing the city to count on the participation of Innpulsa and the Ministries of Information Technology and Communications, Commerce, Industry and Tourism and Education for a direct articulation of the District Government with the National Government.