Vienna presents itself as a technology stronghold, focused on industries with a promising future. What can investors and businesses really expect from Vienna as a business location?
The business location of Vienna offers a very attractive environment for investors and entrepreneurs. In international comparison, Vienna scores high with a well trained workforce and a resulting high level of productivity, as well as a high number of university and non-university research institutions, an attractive business taxation system and funding for research. The advantages of our business location are strengthened by the high quality of life which we are known for internationally, but even more so by the stable political situation, which is influenced by the social partnership. Approximately 300 international companies that manage their business from Vienna can confirm this. The distinct potential for innovation has turned many Viennese companies into world market leaders and has become a fertile ground for further developments, enriched by a high density of small and medium-sized enterprises, particularly in the fields of IT, consulting and logistics.
A time of crisis is also a time of change, of questioning things and finding new opportunities. In your opinion, are there also some lessons to be learned from the effects of this economic and financial crisis?
The crisis has clearly demonstrated just how vulnerable an economic system is when driven by out of control financial products. Now, it is up to the international community to ensure that not everything that is possible should also be permissible. If we don’t manage to pull immoral products out of the market now, we have learned nothing from the crisis. In addition, the existing balancing and valuation regulations need to be examined and redesigned, and mechanisms need to be created that will rid us of those systems that were responsible for the financial and economic crisis. One of the lessons from the crisis should be a heightened self-confidence for Europe. What is positive is that the Austrian federal government acted quickly and determinedly, so that we are affected to a much lesser degree than other countries. The downswing has come to a halt, but we are not yet over the hump. The challenges of the next months are to secure the real economy’s financing and to keep the labour market stable.
Vienna is growing continuously; only 15 years from now, as many as two million people are expected to live in Vienna. Ambitious residential and urban development projects are already in the planning stage, but will there also be enough space available for new business settlements?
In principle, Vienna still has plenty of industrial space available, but we need to secure the inventory and make provisions for the future, so the number of businesses can keep up with the population growth. This is also why we developed an industrial space concept and implemented it in early 2009 in cooperation with the City of Vienna. For the first time, there is a commitment by the city administration to reserve the land essential for the economy and to avoid further rededication of land in related industrial areas. The large urban development and expansion area north-east of the city at the former Aspern airfield will have a positive effect with regard to investors and research-oriented businesses. A new district is emerging on 240 hectares, offering comprehensive possibilities for new business settlements (particularly for companies in research-related and future-oriented industries), as well as a technology centre, residential space for the population and an appropriate social infrastructure.
An ideal business location needs a well functioning, tightly intertwined traffic infrastructure. Is the federal capital well prepared for the future in this regard?
The city enjoys an excellent international connection through the Vienna airport, which has achieved a high level of proficiency, especially with regards to the destinations in Central, Eastern and South-Eastern Europe. Approximately 300 international corporations currently manage their business in the CEE region from Vienna; a good connection to these markets is of vital significance for them. The expansion of the road network into the eastern neighbouring states as well as the rail network is moving ahead swiftly: The new Vienna Central Station is under construction, while the tri-modal logistics centre at the Port of Freudenau is already completed and providing a high-capacity interface between road, rail and water. Based on this infrastructure, highly specialized logistics and transport providers can ensure an excellent level of supply for the city. The public transport network in Vienna and the surrounding regions is also of outstanding quality.
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