BioNTech Lifts Fortunes of Entire City
The co-developer of one of the two major m-RNA vaccines against Covid-19, BioNtech, is not only reaping the rewards of its innovative, life-saving work. It’s creating brand new possibilities in its home city, Mainz, in southwestern Germany.
The company itself has reported net profits of EUR 3.2 billion in the third quarter of 2021 and EUR 7.1 billion in the first nine months of the year. Turnover in the latter period was EUR 13.44 billion.
That’s had game-changing effect on Mainz, which, according to news magazine Der Spiegel looks likely to have a revenue surplus of over EUR one billion at the end of 2021 instead of a planned deficit of EUR 36 million. A plus of over EUR 490 million is also projected for 2022. That would allow the city to completely pay off its debts and make investments for the future.
The city mayor told Spiegel that he anticipates the municipality investing EUR one billion over the coming decade, among other things in a biotechnology campus directly connected with the city’s university and university hospital. It has also been proposed that Mainz’s municipal business tax co-efficient be lowered by over 25 percent, which would make the city more competitive.
BioNTech headquarters in Mainz, Germany © BioNTech