Vantaa City Board reviews the 2025 financial statements – declining tax revenue and high unemployment deepened the deficit
At its meeting on 23 March, the Vantaa City Board reviewed the city’s 2025 financial statements. The meeting also approved the project plan for the Myyrmäki Insight House and the updated project plan for the renovation of the Varia Hiekkaharju campus.
Vantaa recorded a deficit of €79.7 million in 2025. Finland’s weak economy, unemployment, and declining tax revenue are affecting the city’s finances.
Amid major investments and changes in the operating environment, Vantaa is seeking balance and vitality by implementing its new strategy.
See the financial statement release dated 23 March 2026
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Insight House brings vitality and attractiveness to Myyrmäki centre
The Myyrmäki Insight House is the first phase of the new urban culture centre, which responds to the growing demand for cultural and leisure services in Vantaa and revitalises Myyrmäki centre.
The Insight House will provide permanent premises for seven cultural and leisure services, as well as temporary facilities. The estimated number of visitors is approximately 340,000 per year.
Insight House also includes parking solutions
A parking solution serving both phases of the urban culture centre will also be implemented in connection with the Insight House. The target cost of the project is €49 million, which is below the €56.9 million cost estimate in the approved needs assessment.
Old section of Varia Hiekkaharju to be renovated – student numbers on the rise
The older section of the Varia Hiekkaharju campus, which is in need of renovation, will be repaired with regard to structurally deficient and damaged building components.
There is also a need for spatial changes at the campus due to the reorganisation of study fields and an increasing number of students.
The updated target cost for the renovation project is €50.7 million.
