ION in talks with Greece for over 2 bln euro R&D hub in Attica, source says

Global fintech group ION has proposed a 2 billion euro ($2.2 billion) investment project to the Greek government to build a research hub in Athens' Attica peninsula, a person close to the matter said.

Founded in London in 1999 by Italian businessman Andrea Pignataro, ION supplies software and data to financial institutions, supporting, for example, their trading and risk management activities.

The project would concentrate roughly 3,000 ION employees in its new Greek hub, mostly software developers who currently work at the group's various research and development (R&D) centres across the world, the person said.

The firm of Italian architectRenzo Piano, famous in Greece for designing the Stavros Niarchos Foundation Cultural Center that houses the National Library of Greece and the Greek National Opera, would be responsible for the project, which would include a park, sports centres and schools.

Reforms pursued by Greece after the global financial crisis of 2008-2009 have spurred foreign direct investment (FDI) in recent years.

The Greek economy rebounded quickly after the global pandemic and the number of FDI projects jumped by 57% year-on-year in 2022, against a 1% increase for Europe as a whole, according to consultancy EY, with net inflows reaching a record high of $8.4 billion.

Microsoft MSFT is currently building a datacentre region in eastern Attica.

In December, Greece approved measures that introduce tax incentives to attract foreign capital and promote innovation.

ION is discussing its project with the Greek government, the person said, adding feasibility studies were being carried out.

News of the project was first reported by Greek online publication Capital.

($1 = 0.9213 euros)