Denmark launches European Silicon Valley

Artificial islands near Copenhagen will attract 380 companies

Denmark plans to build nine artificial islands in southern Copenhagen in a bid to attract businesses, the government announced, amid a housing and office space shortage. The aim is to attract some 380 companies to the area, located near Copenhagen airport, and create 12,000 jobs, adding more than $8bn to the economy.

The government of PM Lars Lokke Rasmussen expects the project to be self-financed in part by selling lots on the islands.

“We're targeting high-tech companies but there's always a need for the production of products we use in our daily lives too,” Industry and Business Minister Rasmus Jarlov told Danish news agency Ritzau on Monday.

“I think this could become a sort of European Silicon Valley,” the head of the Danish Chamber of Commerce, Brian Mikkelsen, told TV2 television. Minister for Employment Troels Lund Poulsen called the project “visionary” and said it had the whole-hearted backing of the government.The plan for the project was first unveiled by PM Lars Lokke Rasmussen in October last year.

The construction on the nine islands, which will have the collective name Holmene, is scheduled to begin in 2022, covering an area of three million square metres and adding 17 kilometres to Denmark's coastline. The first plots of land will be sold in 2028 and the project, the financial details of which have not been disclosed, should be completed by 2040.



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