Israel Active

Israel’s housing sales increased by 37% between March and May. Apr 2024’s average monthly wage was 7.3% higher than the previous April. Average wealth rose 14% in 2023, well above the worldwide growth rate of 4.2%. Israel is now ranked 18th in the UBS Global Wealth Report.

Israeli work management company Monday.com (see previously) has reached $1 billion in annual recurring revenue (ARR). The company said it recently achieved this financial milestone, a decade after it launched its Work Operating System (Work OS) and 8 years since it reached $1 million in ARR.

Israel’s Defense Ministry has awarded Israel’s Elbit Systems a 10-year, 1.5 billion contract to build and operate a state-of-the-art munitions factory. Its strategic aim is to give Israel military autonomy in the face of slowdowns and stoppages of arms exports from Western countries.

raised ; received from the Israel Innovation Authority.

Israel’s has acquired Israel’s for ; Computer giant Cisco is to Israel’s .

To encourage immigration, Israel is to expand tax benefits granted to new citizens who purchase their first home in the Jewish state. On homes valued between 1.98 million and 6 million shekels they will now pay 0.5% purchase tax instead of previously 5% (8% for veteran citizens).

The Israel Innovation Authority has launched a NIS 35 million fund to encourage high-tech companies to expand into Israel’s Northern and Southern regions. It is part of a program called “Leap to High-Tech” that will help companies open new branches and hire local talent.

The IVC & LeumiTech Israeli Tech Review reports that 226 Israeli startups raised $4.78 billion in H1 2024 - 36% more than in the first half of 2023. Startup Nation Central also strong support for Israeli tech startups. Calcalist reported that Israeli startups raised $556+ million in June.

The Central Bureau of Statistics reports that Israel’s unemployment rate in July fell to 2.8%,  down from 3.1% in June. 63% of Israelis aged 15 and older participate in the labor force.

Israeli renewable energy company Energix, in collaboration with tech giant Google, will enter a tax equity partnership for future projects in the U.S. amounting to 1.5 gigawatts by 2030. The estimated value of the partnership is between $1.3 and $1.5 billion by 2030.