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Israel Parliamentary Committee Votes $1,400,000 for Use in Work Settlements

December 14, 1950
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The financial committee of the Israel Parliament today voted an appropriation of 500,000 pounds (approximately $1,400,000) for use in work settlements known as “Maabarot” for newly-arrived immigrant families.

Two new factories, approved by the government under its plan to stimulate private investment, opened in Haifa today. One of the plants, whose “approved” status gives it certain benefits in relation to taxes and raw materials, will manufacture electrodes, while the second is a zipper factory.

The electrode-producing unit is capable of an annual production of 2,500 tons, two-thirds of which will be exported. The zipper factory, capitalized at $560,000 which was provided in equal parts by American and Israel investors, will also provide products for the export trade.

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