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Jabil Circuit invests EUR 23m at base in E Hungary

US-based contract electronics manufacturer Jabil Circuit is making an almost EUR 23m investment at its base in Tiszaujvaros (E Hungary) and will add another 670 workers as a result, the government and company representatives said at a press conference on Friday.

Jabil is getting a state job-creation grant to support the investment, slated to be completed by the end of this year. The amount of the cash subsidy will be published after a government decision but will be under HUF 1bn.

In addition to the job-creation subsidy, Jabil availed of a corporate tax preference and training support.

National Economy Ministry state secretary Zsolt Becsey said the job-support subsidy would be recouped already in 2012 from taxes.