Flanders Attracts Record Number of Foreign Investors
28 March 2000
Flanders Attracts Record Number of Foreign Investors
BRUSSELS, Belgium--March 27, 2000--1999 proved to be an exceptional year for Flanders in attracting foreign investment. A total of 179 international corporations decided to locate their business in Flanders, the northern region of Belgium. The foreign investments add up to a total of $2.4 billion and will lead to the direct creation of 9,400 jobs as well as an anticipated 37,000 more in the relative supply sectors.
- 22% of all investments were made in the information technology
sector.
- 14% of total investments were in the chemicals sector, showing the
importance of the petrochemical area in Antwerp.
- 13% of investments were in the automotive sector due to the
growing strength of the four assembly plants at Ford, Opel, Volvo
and Volkswagen.
- 10% of the investment projects were related to life sciences
activities.
The investments were not only made to increase production, but also to develop logistics and distribution centers, set up research and development, as well as establishing headquarters in Flanders.
As in previous years, American, European and Asian investors alike realized the enormous potential of the Flanders location in the heart of the European Community. Some of the leading investors include BASF, Bayer, Black & Decker, Dana, Duracell, Ford Motor Company, General Motors, IDT Corporation, Intel, Johnson & Johnson, Proctor & Gamble, Pharming and Staples.
Insight into some of the leading automotive investment projects
- The Ford Motor Company has invested in the construction of a
supplier's industry park at their existing site in Genk. The
supplier's park includes a 3/4 mile long overhead conveyor belt.
- General Motors has given approval for a $140 million investment
program in its subsidiary Opel Belgium in Antwerp. This program a
new spray paint division, the modernization of the test zone and
further work on the steel press. The extra investment is tagged
for the production of a second model in addition to the Astra,
which is currently produced at the site.
- Heraeus has decided to invest $28.5 million for a new site at
which will manufacture sensitive emissions sensors for the
automotive industry.
- Paccar has confirmed a $47.5 million project at Daf Trucks in
Flanders. The investment will be used for the modernization of the
production process, the renewing of product range and raising the
production capacity.
- Textron Automotive has decided to set up a new production facility
in the new suppliers park in Genk. The facility is to make
dashboards for the Ford Genk assembly plant. The total investment
amounts to $33 million.
About the Flanders Foreign Investment Office
The Flanders Foreign Investment Office, the official economic development agency of the Government of Flanders, is dedicated to assisting international companies to locate in Flanders, Belgium. It guides companies through the processes involved in setting up a business in the region, assists them with site selection, incentives calculation and facilitates business contacts.
To contact Flanders Foreign Investment Office call 630-719-9850 or visit our website www.ffio.com.