How Skellefteå invests for the future

Skellefteå has made an important journey in the last ten years. And it continues to invest in the future. By 2034, the municipal group will have invested SEK 40 billion*.

Ten years ago, the municipality faced a declining population, falling tax revenues and welfare challenges. It decided to invest in growth - by taking advantage of renewable energy and industrial know-how. The green transition has always been bigger than individual companies. And Skellefteå is well placed to continue to play a major role in the journey towards a more sustainable world. What investments are in the pipeline? Let's find out!

*In the fall of 2025, the City Council will decide on a new plan that may change these figures.

Stark economy

First of all, it can be noted that Skellefteå municipality has a strong economy, with an equity ratio of 60 percent. This actually makes the municipality's economy one of the strongest in the country. Of course, there are loans in the municipality's finances, which is more the rule than the exception for municipalities in general. In the municipal companies and in the fee-financed activities - such as waste, water and sewage - there are loans for the activities' investments. However, the costs of these loans are financed by sales revenue and income from fees, not by tax revenue. For the next ten years, the municipality plans to finance 80% of its investments with its own money. All in all, the municipal group in Skellefteå has a very strong financial position, which provides unusually good opportunities to handle both investments and pressures in the future.

40 billion in investments in the municipal group

By 2034, the municipally owned companies and Skellefteå municipality will invest SEK 40 billion. The figure comes from the investment plans for the future that the municipality's various operations and companies have for the years 2025-2034. (In the autumn of 2025, the municipal council will decide on a new plan that may involve changes.) Many municipalities make investment plans for three or five years, but Skellefteå has chosen to try to look even further into the future. These are plans that the municipality itself decides on and they are adjusted annually depending on needs and changes that occur in the outside world.

The vast majority of the investment plans are not about what happens in the municipality's own operations. This is because Skellefteå Kraft, one of Sweden's major energy companies, is part of the group. Skellefteå Kraft is a wholly owned municipal company that operates entirely on a commercial basis in the energy market. For them, it is natural to invest heavily in the coming years, including in more renewable energy production that can meet an increasing electricity demand and contribute to the green transition. Skellefteå Kraft accounts for over 50 percent of the municipal group's investment plan for 2025-2034.

The other major part of the investment plan is about the housing company Skebo. Together with other municipal companies, they account for 23 percent of the investment plan, which makes the municipal companies' total share 73 percent, that is, SEK 29 billion.

This leaves 27%, which is the part of the investments that the municipality itself is responsible for. The largest item relates to infrastructure, particularly in water, sewerage and waste. This is largely about renovation and maintenance of old facilities.

New port creates competitive advantage

Skellefteå municipality is also in the process of building a new port, which is planned to be completed by the end of 2027. This investment is being made to meet the new transport needs of the entire region. A new port has been part of the municipality's planning for at least ten years. The new port will create competitive advantages for the entire local and regional business community and contribute to greater opportunities for sustainable industrial development.

The total investment in the port up to 2027 amounts to SEK 1.4 billion and, in addition to the municipality's group of companies, is financed by the Swedish Agency for Economic and Regional Growth and other external financiers.

Several investments in industrial sites completed

Industrial sites have been another important investment for companies to grow and establish themselves in the municipality. Skellefteå municipality has invested in four different areas in recent years, thereby making it possible to attract companies to the area even in the longer term.

Some of the biggest investments right now, including private ones:

Skellefteå kraft: SEK 25-50 billion

Together with partners, it is exploring investments including carbon capture, hydrogen and the production of electric fuels.

Holmen: SEK 10-20 billion

Establishing wind power production.

Boliden AB: SEK 7.3 billion

Invests to reduce the environmental impact of the mining and metals industry.

Norrbotniabanan: SEK 17.7 billion

Construction of the section between Dåva (Umeå) and Skellefteå.

Stena recycling: SEK 2 billion

Invests in recycling, service and logistics.

Skellefteå hospital: SEK 1.9 billion

Svenska kraftnät: SEK 1.5 billion

Invests in an expanded transmission grid.

Port of Skellefteå: SEK 1.4 billion