Magdeburg's future in jeopardy: Intel wants to sell Eulenberg!

Magdeburg's future in jeopardy: Intel wants to sell Eulenberg!

Things are currently getting exciting in Magdeburg: The city is in negotiations with Intel about buying back an approximately 400-hectare site on Eulenberg. According to information from MDR It's unclear how much Intel will charge for the space. The sale could offer both economic and strategic benefits for the city, especially since the state of Saxony-Anhalt is also showing interest in the property.

Intel acquired the site from the city in November 2022 for around 100 million euros after the city had previously bought it from farmers at a price of 25 euros per square meter. The fact that BMW decided to locate in Leipzig has thrown the original plans for the area into disarray. Instead, the area was intended for the settlement of other high-tech companies, which has now stalled.

Public investment at a standstill

The establishment of Intel was associated with many hopes, which have now suffered a bitter setback due to the cancellation of the project. The public sector and companies have invested in advance payments, and many planning and infrastructure measures are currently at a standstill. This is particularly noticeable with the 50Hertz substation, which is budgeted at 70 million euros and is scheduled to go online with 400 megawatts by the beginning of 2027.

Finance Minister Michael Richter (CDU) is optimistic that the site will be sold to the state. “The city of Magdeburg has a right of first refusal for the 400 hectares,” explains Mayor Simone Borris. She is also calling for support from the state, as the city has already spent over 20 million euros on archaeological work on the Eulenberg. Large sums of money were also invested in the planned high-tech park - specifically, 450 million euros are available to purchase space in neighboring Wanzleben Mirror reported.

The historical context of Magdeburg

But Magdeburg has a long history. The city is not only the capital of the state of Saxony-Anhalt, it also has its place in German history as a member of the Hanseatic League and as a site of significant cultural and economic developments. Major destruction during various wars, including the Thirty Years' War and World War II, left its mark. Nevertheless, the city has always recovered and is now an important location for various industries, including mechanical engineering and information technology. Further key historical data and interesting facts about the city can be found here Wikipedia.

What will happen next with the project surrounding the chip factory and the land utilization remains exciting. The city and the state are in negotiations that could be crucial for Magdeburg's future economic development.