Amazon to invest an extra €10 billion in Germany

Business Thursday 20/June/2024 10:02 AM
By: DW
Amazon to invest an extra €10 billion in Germany

Frankfurt: Tech giant Amazon announced a plan to invest a further €10 billion ($10.7 billion) in Germany on Wednesday.

The company said €8.8 billion will be used to expand the facilities of its cloud computing subsidiary, Amazon Web Services, around Frankfurt.

The rest of the funds will go towards logistics, robotics and two new corporate offices.

Amazon said its German workforce is set to grow to 40,000 permanent staff by the end of the year, up from around 36,000 employees in 2023.

Amazon said it has already invested more than €77 billion in the country since 2010.

The fresh investment comes as Europe's largest economy turns to high-tech fields to emerge from a period of weakness.

Chancellor Olaf Scholz said Amazon's investment showed that Germany was still "an attractive business location."

"As the government, we are working on precisely this: strengthening our competitiveness," he said.