Economics Minister of Saxony-Anhalt, Armin Willingmann (picture alliance/dpa/archive)
In 2018, grants from the state of Saxony-Anhalt prompted twice as much business investment as in the previous year. Last year 12.6 euros were invested for each euro of state funding provided, Economics Minister Armin Willingmann, a member of the Social Democrats, announced in Magdeburg on Monday. In 2017, the calculated figure was 6.1 euros. Furthermore, the ratio of investments to the state subsidies disbursed was the highest in four years.
In total, the federal government’s and the states’ combined budget for promoting trade and industry supported 102 projects. According to the Saxony-Anhalt economics ministry, the funding amounted to a total of 867 million euros. Willingmann cited as examples the construction of a new paper mill in Sandersdorf-Brehna, a new plant built by the fast food chain Ditsch in Oranienbaum-Wörlitz and the expansion of the ThyssenKrupp Presta plant in Ilsenburg.
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