Thuringian Health Insurance Fund - Business participations pump money into the state treasury
Corporate holdings have been flowing into the Landeskasse in millions for several years. The Landesbank Hessen-Thüringen and the Thüringer Aufbaubank each contribute approximately two million Euro annually since 2021, according to a response from the Finance Ministry in response to a Landtag inquiry from the Left-Fraktion. While Thüringen holds only around four percent of the business shares in the common Landesbank with Hessen (Helaba), the Land is the sole shareholder in the Aufbaubank.
Revenue is not the "primary goal for holding regional investments," the Ministry explained. The common Landesbank serves as the backbone of the Sparkassen organization, and the Aufbaubank is the funding bank for the state. It primarily handles applications for state aid and disburses the funds. Through a fund managed by a subsidiary, it also holds a series of corporate investments indirectly. The most significant one is a stock package of the publicly traded Jenoptik AG in Jena.
Many investments bring more expenses than revenues for the state. One such example is the international airport in Erfurt. The Land's subsidy for airport operations amounted to roughly 5.9 million Euro in June due to the Corona lull. It is planned to be reduced to around 2.7 million Euro by approximately 2027, according to previous reports.
The Land reportedly did not generate any revenue from 2019 onwards from its stake in the Thüringer Fernwasserversorgungs-Gesellschaft, the Geraer Wohnungsbaugesellschaft "Elstertal", the Messe Erfurt, the Thüringer Tourismus GmbH, or the Landesentwicklungsgesellschaft, which primarily deals with company settlements and site marketing.
- The annual contribution of around two million Euro each from Landesbank Hessen-Thüringen and the Thüringer Aufbaubank to the Landeskasse has been ongoing since 2021.
- In contrast to revenue, the primary goal for holding regional investments is not seen as a priority by the Finance Ministry.
- Helaba, the common Landesbank with Hessen, plays a crucial role as the backbone of the Sparkassen organization, while the Aufbaubank mainly handles applications for state aid and disburses the funds.
- The Landesbank Thüringen, with only a four percent share in the common Landesbank with Hessen, is the sole shareholder in the Thüringer Aufbaubank, which is located in Erfurt, Hesse.
