Tech giant Amazon announced on Wednesday its plan to invest an additional €10 billion in Germany. The company will allocate €8.8 billion to expand the facilities of its cloud computing subsidiary, Amazon Web Services, around Frankfurt, and the remaining amount will go towards logistics, robotics, and the establishment of two new corporate offices. This latest investment is also projected to create more jobs, with the company aiming to expand its local workforce, increasing its permanent staff from approximately 36,000 employees in 2023 to 40,000 by the end of the year.
Amazon’s investment in Germany has been consistent and substantial, totalling more than €77 billion since 2010. This latest injection of funds is poised to bolster the German economy’s transition towards high-tech sectors during a period of economic vulnerability.
German Chancellor Olaf Scholz has warmly welcomed Amazon’s plans, interpreting them as a clear indication that Germany’s economy, as the largest in Europe, continues to be a highly appealing destination for investments.
“Amazon is investing 17.8 billion euros in jobs and innovations in Germany, making it one of many companies doing so because we are an attractive business location! As the federal government, we are working on exactly that: strengthening our competitiveness,” Chancellor Olaf Scholz posted on X platform.
