IBM expands in Hungary with multi-billion investment

The Hungarian government will support the investment with a 1.1 billion HUF grant, which will help create 410 jobs

Computer giant IBM will invest 3.2 billion HUF to expand its IT service center in Székesfehervár creating 410 jobs, it has been announced.

The Hungarian government will support the investment with a 1.1 billion HUF grant, Péter Szijjártó, minister of Foreign Affairs and Trade, has confirmed.

IBM will provide IT, procurement, laboratory and education services at the base to more than 300 western European companies, and 40 percent of the new workforce will be highly qualified employees.

There are more than 600 US companies operating in Hungary, employing more than 100,000 people, Szijjártó said.

The combined value of their investments in the country is more than 9 billion dollars, he added.