Tuesday, April 23rd 2024
ASML Could Stay in the Netherlands with Further Investments and Create 20,000 New Jobs
Last month, we covered ASML's plans to leave the Netherlands after a crisis with the Dutch government that prevented skilled immigrants from entering and working inside ASML's facilities. However, it appears that ASML has managed to strike a potential deal with the Netherlands Prime Minister Mark Rutte and his office about the company's plans to stay in the country. In an effort dubbed "Operation Beethoven," the Dutch government aimed to keep the tech giant in the country, with a deal now seemingly in place. AMSL's roadblocks and reasons for potentially leaving the Netherlands were difficulty in obtaining building permits, constraints on the electrical grid, transportation bottlenecks, and a need for supporting infrastructure like hospitals, schools, and housing. The most prominent of them was importing foreign labor in the form of highly skilled engineers and scientists needed to develop next-generation lithography machines.
According to the NLTimes, ASML now plans to potentially expand in the Brainport Industries Campus (BIC) in Eindhoven, with a creation of 20,000 new jobs in a 2.5 billion Euro investment from the Dutch government. "BIC is an interesting option for us, which we are now exploring together with the municipality of Eindhoven," noted ASML CFO Roger Dassen. Given that ASML needs to double its operations in the following decade to meet soaring demand, the company has many uncertainties. Questions of finding skilled immigrants and building infrastructure to support their needs remain the company's priority. In the Summer, the plan to support ASML's expansion will be voted in the Eindhoven City Council, which will decide the fate of ASML's stay in the Netherlands. An interesting comment from January from AMSL CEO Peter Wennik is, "Ultimately, we can only grow this company if there are enough qualified people. We prefer to do that here, but if we cannot get those people here, we will get those people in Eastern Europe or in Asia or in the United States. Then we will have to go there." The final decision still awaits.
Sources:
NLTimes, Thanks to Forum Member P4-630 for the tip!
According to the NLTimes, ASML now plans to potentially expand in the Brainport Industries Campus (BIC) in Eindhoven, with a creation of 20,000 new jobs in a 2.5 billion Euro investment from the Dutch government. "BIC is an interesting option for us, which we are now exploring together with the municipality of Eindhoven," noted ASML CFO Roger Dassen. Given that ASML needs to double its operations in the following decade to meet soaring demand, the company has many uncertainties. Questions of finding skilled immigrants and building infrastructure to support their needs remain the company's priority. In the Summer, the plan to support ASML's expansion will be voted in the Eindhoven City Council, which will decide the fate of ASML's stay in the Netherlands. An interesting comment from January from AMSL CEO Peter Wennik is, "Ultimately, we can only grow this company if there are enough qualified people. We prefer to do that here, but if we cannot get those people here, we will get those people in Eastern Europe or in Asia or in the United States. Then we will have to go there." The final decision still awaits.
19 Comments on ASML Could Stay in the Netherlands with Further Investments and Create 20,000 New Jobs
I'm glad the Dutch got ASML back on board.
The later is mostly due to policy mistakes over the last decade and a half.
The former due to an influx of datacenters and electrification.
Dutch goverment absolutely could easily stop any move (and yes, that would be lawful, let's not cosplay kindergarten) - I am not sure the carrot approach is always the best one.
Russians have a lot of Potatoes, right?. why do they need a fab for Chips, all you need is oil and electricity for Chips… (in short supply i assume in some parts of Russia.)
regarding electricity, seriously, if Germany would just put a Nuclear plant on a Shut down coal mine, (a huge expanse of land, away from everybody) Everybody would have enough power… (ie, somebody has to aggre to using nuclear power, and share it…)
When my dad got out of gr.12 he got on with a company as a machinist apprentice. I know it's hard to compare wages vs buying power, but his buying power then would be about $60/hr (cad) in today's terms as an apprentice. They were no shortages of people lined up at the door for a job.
I heard a lot of companies complaining about shortages of skilled labour, skilled trades, etc.
I think what they mean is the pool is very small depending on the wage they wish to pay. Post an engineering job for $200k/year at a starting rate, and I am willing to be you will have no shortage of applicants. Wages help drive where people look for jobs.
Example mining pays well, so if I can make $130k/yr with gr.12 and 0 responsibility and work 2 weeks on and 2 weeks off, it doesn't make much sense economically to go to university for 4 years at a cost of $50k/yr only to make $70k/yr.
I know not an apple to apples since I believe university is mainly free there vs North America? If the company is worldwide then really they should be able to pull people from the whole world and just transfer them with in the company (if the employee desires). As someone who previously was in mining, it's a career that you can end up all over the world while still being employed by one company.
As an example
www.asml.com/en/careers/find-your-job/senior-manufacturing-engineer-j00291616
Nothing about remuneration, time off, pensions, benefits, etc. And that list of requirements!
This career could be way better than mine, but without that info posted, I would not bother to even apply.
This has nothing to do with how a scumbag lowlife like Sunak is treating people and in Australia we taught the UK everything they need to know about being reprehensible arseholes, but that is a separate issue to sky-high immigration.
so yes fishing for tax breaks it is.