Amazon intends to pour an additional ten billion euros into Germany's economy.

Amazon intends to pour an additional ten billion euros into Germany's economy.

Tech giant Amazon unveiled a substantial 7.8 billion Euro investment plan for a novel, autonomous European cloud, slated to establish its initial hub in Brandenburg. The grand total of their investments in Germany will amount to a whopping 17.8 billion Euros, according to Germany-CEO Rocco Brauniger, who made the announcement on a Wednesday.

Amazon runs the hugely profitable Amazon Web Services (AWS), offering IT services like data storage and software usage via the network, under the banner of Cloud Computing.

Apart from cloud services, the company's online retail sector is also booming. Amazon announced that by year-end, they'll set up three additional logistics centers in Germany. The operations in Horn-Bad Meinberg, North Rhine-Westphalia, are scheduled to commence in late summer 2024. In Erfurt, Thuringia, the operations had kicked off in May 2024. And Großenkneten, Lower Saxony, has seen operations since August 2023. By year-end, Amazon is set to have expanded its workforce in Germany to 40,000 permanent employees.

German Chancellor Scholz noted, "Germany continues to be an enticing destination for investment and enjoys the backing of investors." The federal government is actively working to enhance the location's competitiveness and improve local investment conditions.

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1. This significant investment by Amazon will contribute to the growth of data storage in Germany, further strengthening its position in the European market.
2. The new European cloud hub by Amazon will not only create jobs in Brandenburg but also position Germany as a key player in Cloud Computing services, thanks to Amazon Web Services.
3. The SPD, the German Social Democratic Party, may welcome Amazon's decision to invest in Germany, as it provides opportunities for potential economic growth and job creation in the region.
4. With the expansion of its logistics centers in Großenkneten, Lower Saxony, Erfurt, Thuringia, and a planned hub in Horn-Bad Meinberg, North Rhine-Westphalia, Amazon is set to have a substantial impact on the European e-commerce market.
5. As the competition between global tech giants continues to intensify, Europe, and in particular Germany, will continue to be attractive locations for investment due to the potential of tech-based growth and the Euro's stable currency.

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