Nachikatsuura Town Regional Economic Circulation Creation Business Subsidy (MIC Local 10,000 Project)

1. Overview: This subsidy is Nachikatsuura Town's local implementation of the Ministry of Internal Affairs and Communications Local 10,000 Project. It supports new, sustainable businesses that use local resources and local finance to solve regional public issues and create economic circulation within the community. The scheme combines public support from national and local government with private finance from regional financial institutions. 2. Eligible applicants: Applicants are private businesses and similar entities that already have, or plan to establish, a shop, factory, office, or other business base in Nachikatsuura Town. The project must be locally rooted, use regional resources and funds through industry-government-academia-finance collaboration, address a public regional issue, and have novelty and model value for other municipalities facing similar challenges. Applicants must not be in arrears on town taxes. 3. Eligible costs and support: Eligible national-project costs are initial investment costs necessary for launching the new business, mainly facility construction or renovation, machinery and equipment, fixtures, and research costs when collaborating with a local university. Land acquisition, running costs, transfer fees, revenue stamps, insurance, and general office supplies not directly attributable to the project are excluded. Advertising and product-development costs are not covered by the national project. 4. Rate, cap, schedule, and application points: Public support to the business is capped according to the ratio between financing and public assistance: JPY 30 million in principle, JPY 40 million when financing is at least twice the public aid, JPY 50 million when at least three times, and JPY 55 million when at least four times. The national grant rate to the municipality is generally one half and can reach three quarters for specified areas or priority fields. Applications are accepted on a rolling basis, but recruitment stops when the MIC budget ceiling is reached.