Thuringia: Development bank: billions in investment in Thuringia supported

Erfurt (dpa/th) - In the 30 years since it was founded, Thuringia's development bank has supported investments in the state of at least 50 billion euros with state financial injections.

Thuringia: Development bank: billions in investment in Thuringia supported

Erfurt (dpa/th) - In the 30 years since it was founded, Thuringia's development bank has supported investments in the state of at least 50 billion euros with state financial injections. In total, more than 170,000 funding notifications with a volume of around 22 billion euros have been processed so far, the Thuringian development bank announced on Thursday in Erfurt.

The law that enabled the creation of the bank was published on July 21, 1992. The business started in October 30 years ago with five employees.

Thuringia's economy has developed well since then, explained the head of the development bank, Matthias Wierlacher. With 81 industrial jobs per 1000 inhabitants, the Free State is above the national average. In view of Thuringia's fragmented economy, Wierlacher sees one of the focal points for the future as enabling companies to grow. The larger a company is, the more money it spends on research and development and thus on its competitiveness.

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