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The city's economy is investing at record levels – Mayor Benz praises municipal companies as a stabilizing factor
Darmstadt. Darmstadt's municipal utility company once again demonstrated its economic strength and reliability in the 2024 financial year. With increased investments , a larger balance sheet total , and more employees , it is continuing its stable course. This is the conclusion of the 27th annual report on municipal holdings , prepared HEAG on behalf of the City of Darmstadt
The report provides citizens with a transparent overview of the economic situation and activities of municipal companies – including the companies of the HEAG Group , the Darmstadt Clinic , the darmstadtium and other municipal enterprises.
"The municipal companies are a crucial factor in the stability of our city," emphasizes Mayor Hanno Benz . "With their services, they ensure essential public services and simultaneously drive innovation."
Investments at record levels
At the end of 2024, the city of Darmstadt, a center of science and research, held stakes in 115 companies (previous year: 119). Total revenue fell as expected to €4.035 billion (previous year: €4.927 billion) due to lower procurement costs in the energy sector. At the same time, total assets to €6.465 billion (previous year: €6.226 billion).
With investments of €592 million, the municipal companies reached a new record level . Despite a moderate annual result of -€6 million, economic development remained stable. In 2024, 9,513 people – an increase of approximately 160 employees compared to the previous year.
Future projects in education, energy and mobility
“With an investment volume of almost 600 million euros, our companies are sending a strong signal for the future viability of the city,” explain HEAG board members Prof. Dr. Klaus-Michael Ahrend and Dr. Markus Hoschek .
Examples include the new construction of the Heinrich-Hoffmann-School with an additional 99 daycare places , the neighborhood development in the Ludwigshöhviertel by bauverein AG , the expansion of renewable energies and the fiber optic network by ENTEGA AG , and the commissioning of new trams and e-buses at HEAG mobilo GmbH .
Mayor Benz emphasizes: “These projects demonstrate that Darmstadt is not only economically strong, but also thinks strategically. We are shaping the city's economy in such a way that it meets the challenges ahead – from social cohesion and digitalization to climate protection.”
Urban economy as the economic backbone
Darmstadt's municipal economy sees itself as a unified entity in which various business sectors mutually support each other. Surpluses from areas such as energy and water , digitalization , telecommunications , and real estate enable investments in mobility , health , social inclusion , culture , and leisure .
The 2024 Participation Report available as a PDF on the HEAG website at www.heag.de/stadtwirtschaft/beteiligungsbericht www.heag.de/mediathek/beteiligungsberichte .
(DARMSTADT – RED/PSD/stip)
