Nokia, the State of North Rhine-Westphalia (NRW) and the City of Bochum jointly unveiled a plan today to stimulate growth, create new jobs and generate investment for Bochum and the neighboring cities.
Nokia invests 20m Euro (~$32m) into the Growth for Bochum program plus the net proceeds from the sale of Nokia's production facility and property in Bochum.
The state of NRW will also contribute a co-investment in the amount of 20 million Euros ($32m).
The Growth for Bochum program aims at making the region a more attractive for startups and investors to generate new jobs.
Nokia drew a lot of heat for closing the subsidized plant in Bochum and moving production to Romania earlier this year.
More details in this Nokia announcement.
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