Economist Sierdjan Koster of the University of Groningen agrees with her. According to him, regional development agencies perform tasks “that we could not do without”. He mentions investing in innovative companies as an example. He does, however, make a comment. He wonders whether the NOM in its current form is the right vehicle.
Entrepreneur Harry Fietje from IJlst has little doubt about the right of NOM to exist. His company Autonational develops machines for the production of (carbon) composite products. With a new company, Frisian Bar, he wants to produce composite reinforcement in Friesland as an alternative to steel in concrete. “Banks saw the potential, but no bank wanted to invest money in the company as long as we could not show black figures,” says Fietje,
Other investors also found supporting Fietje’s startup too risky. The NOM and the Frisian Development Agency stepped in.
“Without that money, the factory would not be built,” says Fietje. NOM provided Fietjes company with a loan that can later be converted into shares. Fietje can also contact NOM for guidance and advice and has access to the NOM network. But, he emphasizes: “They don’t sit in the director’s chair. They sit next to me.”
According to economist Koster, this is exactly where a government organization such as the NOM is sometimes needed. If banks withdraw, but a development is socially or economically important, public support can be a flywheel, he explains.
At the same time, he warns that government money can make entrepreneurs lazy. So it is a constant search for balance, says the economist. “Support can make companies more viable, but too much certainty can actually inhibit innovation.”
It is inevitable that investing in risky companies will lead to failure. The podcast includes names of bankrupt companies in which the NOM or NOM funds invested money, such as Purified Metal Company in Delfzijl and floor printer factory M4 in Hoogezand. In Drenthe, Campooz, builder of folding trailers, went bankrupt in 2025, as did the Frisian Carver in 2024, maker of tilting tricycles.
The bankruptcy of Purified Metal Company particularly bothers Boonstra. “The worst bankruptcy we’ve seen,” she says. The factory had to clean contaminated steel and remove sickening chromium-6 from steel, a socially relevant project. But the factory did not get going properly, the energy crisis struck and the supply of contaminated steel lagged behind.
According to Koster, these kinds of mistakes are part of NOM’s mission. “In fact, if a company never goes bankrupt, the organization is probably too cautious. It is a trade-off; what is in society’s interest and what risk is acceptable. That is a political question,” he emphasizes.
The role of the NOM has changed in the meantime, Boonstra reflects. At first it was mainly an instrument to create jobs. NOM is now an investor in innovation, manufacturing industry, green chemistry, water technology and international chains. Boonstra states that NOM can boast several successes in this area.
She mentions the Water Campus in Leeuwarden as an example, as well as the contribution to the growth of the chemical clusters in Delfzijl and Emmen.
Yet parts of the Northern Netherlands are lagging behind, such as East Groningen, Northeast Friesland and Southeast Drenthe. Unfortunately, according to Boonstra, NOM is not able to change that on its own. The scope is limited, says Boonstra. “An entrepreneur decides where he will sit. We don’t have him on a string.”
Her own legacy? “NOM has started investing with much more courage,” she answers. The NOM was also able to allocate more money due to the growth of the NOM funds and because the shareholders, the government and the three northern provinces, made additional resources available.
In addition, NOM has become much more involved in European innovation projects. She says that the organization has therefore managed to attract more European money to the Northern Netherlands, including through Horizon programs.
“And while acquisition used to be about bringing in jobs, we now pay much more attention to the value that a company adds in a chain.”
According to Boonstra, anyone who wants to help the North move forward must not only distribute money, but also become smarter in collecting it, she wants to pass on to her successor Nettie Wakker. “The Hague is becoming more complex, with, in addition to Economic Affairs, Defense and the Interior as increasingly important players. Also when it comes to raising European money, other regions are often much better at that.”
So show a little more courage.