Good for 1,200 new jobs in total
Despite the current economic uncertainty, Limburg was particularly popular with foreign investors in 2022. Last year, foreign companies invested over 580 million euros in Limburg, spread over 48 investment projects and with a view to creating almost 1,200 new jobs.
Commissioner for Economy and POM Chairman Tom Vandeput: “These figures, from Flanders Investment & Trade (FIT), confirm the attractive investment climate of the province of Limburg. Of the total 5.3 billion euros of foreign direct investment in Flanders, some 580 million went to Limburg. This is the highest amount in the last five years. Moreover, investments were spread over 48 Limburg investment projects, which is also significantly more than in the past. Fresh capital also offers the prospect of a host of new jobs. Thus, the investments will generate almost 1,200 additional jobs in Limburg. This amounts to an 18% share of all jobs announced by foreign investment across Flanders (6,540 jobs).”
Especially investments in the automotive and cleantech sectors.
Limburg attracted especially large amounts of foreign direct investment in the automotive and related sectors in 2022: six projects accounting for 108 announced jobs and an investment of 225 million euros. That is almost 40 per cent of the total investment in Limburg. Cleantech also sees a major investment partner in Limburg, with over 172 million euros or 30% of Limburg’s total investment spread over six investment projects and with the prospect of 153 additional jobs. Third in terms of investment is the chemical sector with €130 million (22% of the total). In terms of job creation, the food sector (210 additional jobs) and the logistics sector (150 additional jobs) also score well.
US as leading foreign investor
The United States leads the way as the main investor, as it does across Flanders. US companies accounted for 10 Limburg investment projects in 2022 and they are targeting 678 new jobs for this. That amounts to almost 6 in 10 of all jobs announced in Limburg. These US investments involve an investment amount of 298 million euros, just over half of Limburg’s total. It is followed by China with 179 million euros of investment, spread over three cases and with 105 Limburg jobs on the horizon.
Focus on forward-looking and competitively strong sectors
Foreign companies thus had no trouble finding their way to Limburg for investment in 2022. Especially in the area of job creation, Limburg acquires a relatively handsome piece of the pie: 18% of all jobs announced by foreign investment in Flanders. Deputy and POM Chairman Tom Vandeput: “Still, it remains prudent to be vigilant as to whether investment readiness will not come under too much pressure from continuing geopolitical tensions, high European energy prices or stronger wage cost growth compared to our neighbouring countries. With POM Limburg’s Welcome Management service, we focus on foreign investments in future-oriented and competitively strong sectors, such as cleantech or life sciences, for example. This should help us further capitalise on Limburg’s economic potential.”
