The SPRI “Invest in the Basque Country” programme has attracted €225M foreign investment in three years

25 November, 2016
Logo of Invest in the Basque Country

Since it was reinforced, the strategy of the Basque Government Department for Economic Development and Competitiveness has managed to secure 41 projects from abroad and create almost one thousand jobs in Basque industry.

 

In the last three years, the “Invest in the Basque Country” strategy has attracted more than 225 million euros in foreign investment into the Basque Country, involving a total of 41 projects, creating 911 jobs and maintaining a further 2,337. These results have been achieved by reinforcing the Invest in the Basque Country (BC) strategy, the specific unit of the SPRI Group (the Basque business development agency, dependent on the Department for Economic Development and Competitiveness) to attract and retain foreign direct investment (FDI).

 

Attracting foreign investment into the Basque Country is one of the strategic policies that the Basque Government has historically carried out in its industrial and economic development sector, a task that has always been entrusted to SPRI. However, it has been this term, following reflection on the methodology implemented in 2013, when this line of work has been strengthened by increasing the number of projects assessed and also the number of companies “secured”.

 

So far this year, a total of 14 foreign investment projects have been attracted, with €73.8M investment, 128 jobs created and another 1,110 jobs maintained. Three of these projects are from Germany, three from the US, two from the UK and one each from Switzerland, Ireland, Portugal, China and Chile. There is also another investment whose origin is in the US but its current capital is German.

 

In 2015, 22 foreign companies chose the Basque Country to carry out new investments amounting to €137.05M. As a result, 608 new jobs were created and another 1,027 maintained.Tr

 

Five investment projects were attracted by this SPRI unit in 2014, accounting for €15M in investment, with 175 jobs created and a further 200 maintained.

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