Intel's settlement in Magdeburg: Saxony-Anhalt pushes forward with the establishment of a high-tech park

Intel's settlement in Magdeburg: Saxony-Anhalt pushes forward with the establishment of a high-tech park

According to a report by www.volksstimme.de,

The planned settlement of the US chip manufacturer Intel in Magdeburg is driving Saxony-Anhalt forward with the establishment of the high-tech park. The state wants to take the initiative and invest around 250 million euros to develop the future high-tech park. The Ministry of Finance is planning, among other things, to purchase land and take over existing contracts. This will be financed by taking out a loan.

The state's costs are to be covered by the subsequent sale of land to the companies, and it is expected that the trade tax revenue will remain with the municipalities. Intel plans to invest more than 30 billion euros in Magdeburg, including government aid, and to produce chips locally from 2027. Economics Minister Sven Schulze is optimistic and expects that Intel's settlement will lead to many new jobs in the region.

As a financial expert, it is to be expected that Intel's planned investment will have a significant impact on the economy and the labor market in Saxony-Anhalt. The planned financing of the high-tech park through borrowing could lead to an increase in the level of investment and growth in the local construction industry in the short term. In the long term, trade tax revenue and the sale of land to suppliers could help pay off the state's debts.

However, it is important to keep an eye on the state's credit and budget structure and ensure that the planned investments bring long-term sustainable economic and financial benefits for Saxony-Anhalt. The establishment of Intel and the development of the high-tech park could also attract other companies and investors, which could lead to an economic boom in the region in the long term.