Saxony-Anhalt Embraces Change as an Opportunity: Billions Invested in Key Transformation Industries

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Companies are currently injecting nearly three billion euros into projects in Saxony-Anhalt, marking a significant commitment to transformative initiatives. When factoring in Intel's giga-investments, an additional zero needs to be appended.

MAGDEBURG, Germany, Feb. 26, 2024 /PRNewswire/ -- The largest investment project not only in Saxony-Anhalt but in all of Europe is Intel's establishment in Magdeburg. Approximately 30 billion euros are set to be invested in the construction of multiple chip factories. The company has initiated collaborations with six universities in Saxony-Anhalt and is actively recruiting its initial workforce. Approval processes commenced in February, paving the way for the production of the world's most advanced chips in the two factories starting from 2027.

In addition to Intel, numerous other semiconductor companies are also making substantial investments. Sioux Technologies, a globally recognized technology accelerator with around 1,100 employees, is developing strategic high-tech solutions for various markets such as semiconductors, laboratory and medical technology, mechatronics, imaging, mobility, and clean energy. In Barleben, Sioux plans to invest around 20 million euros in a research and development center, gradually creating three hundred highly qualified permanent jobs.

Meanwhile, in Bernburg, a large high-performance distribution center for semiconductors and electronic components is taking shape. The topping-out ceremony for Avnet's Electronics Distribution Center was celebrated in November 2023, with an investment volume exceeding 225 million euros. Over the next eight years, around 700 jobs are expected to be created in Bernburg.

Sven Schulze, Minister for Economic Affairs, Tourism, Agriculture, and Forestry of the State of Saxony-Anhalt, emphasizes the economic dynamism of the region against the backdrop of these examples: "Saxony-Anhalt is on the fast track. High-profile fast-track approvals, a central location in Europe, close collaboration with educational institutions, and attractive conditions such as affordable rents and sufficient childcare spaces make investments and living here exceptionally appealing."

Life Sciences Take Pioneering Role in Saxony-Anhalt's Future

Saxony-Anhalt is establishing itself as a leader in the field of Life Sciences, showcasing the state's future resilience. The mRNA Center in Halle (Saale) is taking shape, with the Wacker Chemie AG demonstrating serious ambitions in this cutting-edge technology through a substantial investment exceeding 100 million euros. The new facility is expected to host around 200 employees. Additionally, the Magdeburg-based medical technology company Neoscan Solutions recently secured a contract to build the world's most powerful 14 Tesla MRI magnet for human examinations.

Chemical parks in Saxony-Anhalt are undergoing expansion and sustainable transformation, with Germany's largest Chemical Park Leuna, being one of the nation's largest construction sites. Over 100 companies from eleven nations are investing 1.3 billion euros in research and green chemistry. The expansion is set to create up to 250 direct and 750 indirect jobs, primarily in the sustainable chemistry sector. AMG Lithium has chosen the Chemical Park Bitterfeld-Wolfen for a 140-million-euro investment to purify lithium hydroxide, transforming it into a battery-grade raw material – a unique endeavor in Europe.

Innovations in renewables and storage technologies

NexWafe, a US-based company, is investing 30 million euros in Bitterfeld-Wolfen to establish a factory for producing solar wafers, a crucial material for the photovoltaic industry. In Bitterfeld, the German company Silicon Products, in collaboration with a French partner, aims to produce high-purity silicon carbide, a vital resource for nearly all semiconductor manufacturers.

TESVOLT AG, a leading technology company in commercial and industrial energy storage, plans to construct a new Gigafactory in Lutherstadt Wittenberg, investing around 60 million euros. The long-term goal is to create over 400 new jobs, particularly in research and development.

The automotive and logistics sectors are also experiencing rapid development from international players. LMG Manufacturing, an aluminum die-casting specialist, inaugurated its new manufacturing hall in Hoym/Seeland after just ten months of construction. Daimler Truck's largest logistics project commenced with the official groundbreaking in Halberstadt in September 2023. The Global Parts Center in Halberstadt/Harz aims to deliver spare parts worldwide starting in 2025, generating approximately 450 jobs with an investment of nearly 500 million euros.

Dr. Robert Franke, Managing Director of the Investment and Marketing Corporation Saxony-Anhalt mbH, emphasizes, "Saxony-Anhalt is an attractive and sought-after location for settlement. We are witnessing significant investments not only in the chip industry but also in various other sectors such as pharmaceuticals, medical technology, and the automotive industry. This underscores why Saxony-Anhalt has gained considerable international visibility."

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CONTACT: Sabine Kraus, +49 391/568 9920, [email protected] 

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SOURCE Investment and Marketing Corporation Saxony Anhalt (IMG)