Dutch government pledges $2.7bn to prevent ASML exit
The Dutch government has committed to invest EUR 2.5 billion (USD 2.7 billion) on local infrastructure and training to keep ASML from moving abroad.
Earlier this year reports emerged that ASML was alarmed at the prospect of tighter immigration controls in the Netherlands, and was considering a relocation overseas. It is estimated that around 40% of ASML employees are from overseas.
That spooked the government since ASML is among the most important companies in the Netherlands. It is virtually the only company in the world that can make extreme ultraviolet machines (EUVs), which enable foundries to make advanced chips. The government launched 'Operation Beethoven' to convince ASML executives to re-consider.
Now, the economic affairs minister has confirmed its intention to improve education and housing in the Eindhoven region, where ASML is based. The USD 2.7 billion will be spent on upgrading the area’s road, bus and train network, and on vocational training.
