UK announces USD10.5B investment from Amazon to enhance growth
Date
9/12/2024 4:38:04 AM
(MENAFN) On Wednesday, the UK government announced a substantial £8 billion (USD10.45 billion) investment from Amazon Web Services (AWS) aimed at building, operating, and maintaining data centers across the country. This significant financial commitment is projected to have a considerable impact on the UK economy, creating approximately 14,000 jobs annually and contributing an estimated £14 billion (USD18.3 billion) to the nation's GDP over the next five years. The announcement underscores a major step in the government’s strategy to foster economic growth and enhance prosperity throughout the UK.
Chancellor of the Exchequer Rachel Reeves described the investment as a pivotal move in the country's efforts to revitalize the economy. She emphasized that this investment is part of the government's broader, long-term strategy to stimulate economic growth and ensure that the benefits of progress are felt across all regions of Britain. Reeves acknowledged that while this investment represents a significant advance, the government recognizes the ongoing economic challenges and is committed to addressing them as part of its mission to "fix the foundations" of the economy.
The planned investment, which was secured during a recent meeting with AWS, is expected to have a broad impact on various sectors. It will bolster jobs not only directly within the data center industry but also in related supply chains. This includes roles in construction, facility maintenance, engineering, and telecommunications. Additionally, local businesses across the UK are anticipated to benefit from this investment, further amplifying its positive effects on the national economy.
AWS has highlighted that this investment will play a crucial role in driving innovation, enhancing productivity, and advancing the transformation of the UK’s digital economy. The development of new data centers will not only create numerous employment opportunities but also contribute to the overall modernization and growth of the UK's digital infrastructure.
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