Oct. 8 (Bloomberg) -- Geox SpA, an Italian shoemaker and retailer, will open a factory in Serbia with an annual capacity to produce 1.25 million pairs of shoes.
The 15.8 million-euro ($20.5 million) plant in the southern city of Vranje will employ 1,250 and receive government aid for creating jobs, the office of Finance and Economy Minister Mladjan Dinkic said today in an e-mailed statement.
Geox founder and Chairman Mario Moretti Polegato signed an agreement with Serbian officials in Vranje today, including a government pledge to provide 9,000 euros for each new job. Production is expected to begin in 2014, said Aleksandar Miloradovic, a spokesman for the Serbia Investment and Export Promotion Agency, in a telephone interview today.
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