Of course you can find narrow examples where you can milk the EU/local subsidies and it works out. If you know how to play the system and are willing to struggle through the endless paperwork and other nonsense.

But keep in mind that employment laws fuck you over, taxation fucks you over and regulation fucks you over. Employment laws are complicated and archaic, completely nonsensical for dynamic startups or small companies. Every jurisdiction has its own tricks so hiring people from 3 different countries is an endless nightmare of paperwork and legal advise.

I've had companies on 3 different continents and while they all suck EU is by far the most restrictive and makes the least sense.