According to a Reuters article, Google Inc would be investing EUR 450 million or USD607 million in Finland. The investment would go towards its local data center over the next few years. This would be the search company's second investment in Finland, as it had already placed an initial EUR350 million on the data center located in Hamina, southeastern Finland.

The European had been struggling in its economy lately, no thanks to the decline of Nokia and poor performance of its paper and steel industries.

During a site visit, Prime Minister Jyrki Katainen said the investment indicated that Finland had remained competitive despite the recent downturns in its economy.

"We have an excellent education system. Finland's strength is in finding creative solutions to global challenges," Katainen said.

The Hamina data center has a staff of 125, and Google said it would be adding more people in the next few years.