The “Project Beethoven” is now official: for months, the Dutch government and the local government in the Eindhoven region have been looking for financing options to prevent ASML from moving abroad. ASML is the world's most important manufacturer of lithography systems for the production of chips and is an economic heavyweight with annual sales of around 30 billion euros.
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Investments amounting to 2.5 billion euros will flow by 2030. The Dutch government is contributing around 1.7 billion – it has now launched the package before its departure and before a new government is formed. The local government is investing 800 million euros.
Public transport, housing, incentives
The money flows primarily into local infrastructure. Local public transport is to be expanded for almost 1.06 billion euros, for example with investments in Eindhoven Central Station including additional trains and new bus and express bus lines. Part of the budget is reserved for the A2/N2 motorways, although there are no concrete expansion plans yet.
House and apartment construction will be expanded by 20,000 to a total of 65,000 new homes by 2030. The governments are investing 425 million euros here.
The Eindhoven government wants to promote local talent in collaboration with universities. We particularly want to attract school leavers through follow-up courses. In order to attract foreign skilled workers, the Dutch government wants to introduce new tax breaks. However, she emphasizes that she needs the support of the House of Representatives and the Senate to do this. Populist parties in particular previously opposed tax breaks for people from abroad.
Eindhoven also wants to find out where the electricity grid is at its capacity limits and expand it there.
ASML wins
The investment package follows a €1.6 billion funding round in November 2022, which largely pursued the same goals. Those involved promise that the financial injections will be worthwhile in order to strengthen the region and create new jobs.
ASML played poker for the investments. The company threatened to build new production plants abroad for the first time, for example in France. The incentives for skilled workers to move to the region are too poor.
(mma)