Finland's Giant Data Center Opportunity
Oxford Research has published a report “Finland’s Giant Data Center Opportunity”, which suggests that foreign data center investments in Finland may generate up to 50,000 years of employment and a total economic impact of up to 11 billion euros within a decade. The report was handed to Prime Minister Alexander Stubb and Minister for European Affairs and Foreign Trade Lenita Toivakka on 2 February 2015.
Finland may become a European hub for digital infrastructure and gain a positive injection of economic growth, explains the report published by Oxford Research. The report suggests that the emerging data center cluster in Finland may generate up to 50,000 years of employment and a total economic impact of up to EUR 11 billion within the next decade.
Due to popularity of cloud services and explosive growth of data traffic, up to EUR 110 billion are invested to data centers globally per annum. According to Boston Consulting Group, 60 new large data center expected to be built in Europe by 2020, thanks to its good location and markets.
Finland may grab a good share of these investments. Finland benefits from world-class energy infrastructure, developable land, good network connection, cool climate and safe environment. In addition, its regulatory environment is Finland's competitive advantage.
A number of large data centers are already being built in Finland by for example Google, Microsoft and Yandex. New data center investments are being planned by for example DC-RO-Helsinki. Investments by Google, Microsoft and Yandex alone are worth EUR 1.3 billion. Of these Google with its EUR 800 million data center investment is the largest foreign greenfield investment in Finland.
Data centers often are located in areas that face economic restructuring ─ in Finland's case, a region that is the heartland of the paper industry ─ where the impact on employment is significant. The construction of Google's data center in Hamina has continued since 2009 and the construction site employs up to 1800 workers. In addition, 230 employees are engaged in operation and maintenance of the data center. The Google data center investment generates a wage sum of tens of millions of euros annually and further impact on employment in the whole data center supply chain.
The report raises to discussion the opportunity data centers present for the Finnish economy. In order to reap the full upside, Oxford Research suggests more effective use of Finland's national strengths, mobilizing education and innovation system to build an ecosystem to support the data centers, and assessing the risks of legislative changes on national and EU level from the perspective of investments.
You can download the report from the picture link below:
For inquiries, please contact:
Senior Analyst Jussi Nissilä
tel: +358 (0) 44 203 2011
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