Basque economic growth and industrial investment

The Basque economy has demonstrated resilience characterized by steady employment growth and rising tax revenues. Data presented to the Basque Parliament indicates the region added 13,000 full-time jobs over the previous year, contributing to a 1.3% increase in full-time positions. Additionally, the GDP grew by 2.3% year-on-year in the second quarter, marking 22 consecutive quarters of growth above 2%.

Fiscal indicators show tax collection reached 13,072 million euros between January and August, a 2.7% increase compared to the previous year. While corporate and personal income tax revenues rose, these gains were partially offset by a decline in VAT collection and various anti-crisis measures, such as industrial shields and tax relief on fuel and electricity.

Building on this economic foundation, the Basque Government has mobilized 678 million euros in private investment through its Euskadi 2030 Industrial Plan. To date, 17 initiatives have been launched, including projects in electric boats, renewable fuels, sustainable aviation, and nanomedicine. These initiatives aim to create more than 3,800 jobs and are part of a broader regional goal to drive 12 billion euros in total private investment.