For many years, the proximity to the growth markets of Central and Eastern Europe has been an important decision-making criterion for businesses to establish their headquarters in Vienna. In light of the tense economic situation, are the businesses changing their strategies?
International experts attribute the CEE region great potential for growth, both short and long term. The global crisis naturally affects this region as well. But I am also convinced that Central and Eastern Europe will overcome this phase in the long run and will return to the path of growth. This means that Vienna remains the optimal location to manage these markets in the future – which has been proven by the settlement of international companies in the first half of 2009. The Vienna Business Agency (VBA) and ABA-Invest in Austria have supported 54 international companies in their efforts to settle in Vienna during the first six months of 2009. During the same period in 2008, that number was at 45. There also is an increase in headquarter establishments. Among others, retail giant METRO Cash & Carry has chosen Vienna as the location for their CEE Eastern Europe headquarters.
What do business owners particularly appreciate about Vienna as a business location?
A current study by Roland Berger has ranked Vienna number one among ten capital cities in Central and Eastern Europe. The most important factors for Vienna were internationality, infrastructure, quality of life, the education sector and the subject of safety. International companies also appreciate Vienna’s tight network of high-quality suppliers, its attractive research landscape and of course its proximity to the CEE markets.
Which measures does the City of Vienna employ to support businesses that have settled here?
The City of Vienna goes to great lengths to strengthen businesses in Vienna in the best way possible and support them in their growth. This way, jobs are being secured and new ones are created. The main instruments for this are the VBA and its subsidiaries. In 2009 alone, approximately 37 million EUR were awarded in subsidies, the majority of which went to SMEs. Start-ups, as well as traditional SMEs, local suppliers, research or innovation projects of companies were supported. But the service is much more extensive. It includes infrastructure offerings such as commercial or office space as well as coaching services for single-person businesses, assistance in the search for international cooperation partners and much more. We are continuously expanding our services for Vienna’s businesses.
Through numerous urban development projects, a great amount of new residential space is being created for this growing metropolis. Are there new projects or expansion plans with regard to commercial space as well?
In aspern Urban Lakeside, attractive spaces for businesses are being created, with an excellent connection to the transport network. This further upgrades Vienna as a business location. aspern Vienna’s Urban Lakeside will also be an attractive location for companies in the technology and research sector. We are taking the economy’s needs into consideration in all other urban development areas too. Furthermore, the business park Wirtschaftspark Süd is currently emerging in the south of Vienna, which was implemented by VBA and a private partner. Companies in the production and service industry will be able to settle there.
Mammoth projects like aspern Urban Lakeside and the development area surrounding the new Central Station are construction projects that draw international attention. What do these enormous infrastructure projects mean for Vienna as a business location?
Both projects have one thing in common: They are eminently important for the future of Vienna. They are of great significance for Vienna’s continuing growth and enhance the attractiveness of Vienna as a business location. In addition, the construction activity alone will create and secure thousands of jobs in the next few years. In aspern alone, there will be 20,000 new workplaces after all construction is completed. |
