The city's economy is investing at record levels – Mayor Benz praises municipal companies as a stabilizing factor
Darmstadt. once Darmstadt's municipal utility company 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, HEAG on behalf of the City of Darmstadt prepared
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 on the HEAG website at www.heag.de/stadtwirtschaft/beteiligungsbericht available as a PDF www.heag.de/mediathek/beteiligungsberichte.
(DARMSTADT – RED/PSD/stip)
