The current government, in collaboration with the Eindhoven region, has decided to allocate a total of 2.5 billion euros towards enhancing the business environment for the chip sector. This initiative aims to retain companies like ASML within the region.
Outgoing Minister Micky Adriaansens of Economic Affairs and Climate emphasizes the significance of the chip sector in contributing to the economic growth and job creation in the Netherlands, as reported by NU.nl. Project Beethoven has been initiated to secure the presence of the sector within the country by investing in talent development and making the region more appealing for both living and working. This will facilitate the attraction of foreign talent as well. Additionally, Project Beethoven aims to address the electricity grid shortage in the region.
The current government is investing 1.7 billion euros, while the Eindhoven region is contributing 800 million euros, as mentioned in a report by RTL News. The government's portion of 1.3 billion euros will be sourced from the Growth Fund, with the remaining amount coming from existing funds for housing and mobility. It is important to note that these investments are made under the assumption that ASML will continue to invest in the Netherlands and retain its operations in the country. Any changes in their investment plans will lead to adjustments in forecasts and associated measures.
ASML has expressed concerns about the business climate in the Netherlands, particularly in relation to knowledge and labor migration regulations. With forty percent of its workforce being non-Dutch, ASML has raised issues regarding the potential phase-out of tax credits for expats, as highlighted in a recent motion by NSC chairman Pieter Omtzigt. Additionally, the housing shortage has also been a point of concern for the company, according to sources from De Telegraaf.
English (US)