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Dutch Invest €2.5 Billion to Keep ASML at Home

The Dutch government will spend €2.5 billion ($2.7 billion) on infrastructure and education projects in the Eindhoven region after the tech giant ASML Holding NV threatened to expand abroad.

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The funds will be spent on upgrading the area’s road, bus and train network, for education of technical workers as well as vocational training, and for housing projects, according to a statement emailed by the government on Thursday.

ASML is based in Veldhoven, just west of the city of Einhoven in the country’s south. Over half of its more than 42,000 employees are based there, according to the company.

Funds will be spent on transport, education, and housing

The government has set up a task force codenamed “Beethoven” to keep Europe’s most valuable technology company from expanding outside of the Netherlands, as concerns mount about the country’s business climate. ASML is the Netherlands’ and Europe’s most valuable tech firm.


Image: ASML