The international reputation of Pomerania remains strong. The province has once again been classified among the most attractive regions for business in Europe, surpassing, among others, West Yorkshire and the province of Marseille. The prestigious ranking prepared by the Financial Times (fDi European Cities and Regions of the Future 2024) has acknowledged the economic strategy of the province.
For the 10th time fDi Intelligence experts, a portal part of the Financial Times structure, have compiled a ranking of European Cities and Regions of the Future. In this year’s edition nearly 90 regions were analyzed, distinguished by their particular expertise in creating an investment-friendly climate. Pomerania maintained its high 5th place for its effective strategy in attracting foreign direct investment (FDI) in the category of medium-sized regions. Additionally, the region was recognized with 7th place in the classification of creating favorable conditions for business development.
It is worth noting that the ranking prepared by fDi Intelligence was announced shortly after the publication of the European Commission’s Report on the quality of life in European cities, 2023. Gdańsk was ranked in the top five European cities with the highest levels of citizen satisfaction with quality of life, optimal conditions for families with children, and a sense of being able to receive material support in times of need.
Solid numbers behind the success
From the aforementioned rankings emerges the image of Pomerania as a place attractive both for conducting business and for living. The province’s consistently high position in the ranking of cities and regions of the future is supported by concrete numbers. The value of FDI in Pomerania has already reached $7 billion, and the number of business services employees has exceeded 40,000. Thanks to the continuously growing competitiveness, the unemployment rate in December of last year was only 2.5%, a decrease of 2 percentage points compared to 2022! For comparison, in the popular tourist destination of Andalusia this indicator reaches 19%.
New investments, especially recognizable brands such as Intel, Northvolt, Nike, Amazon, and Boeing, attract and encourage relocation from other parts of the country and abroad for individuals seeking employment. Global companies retain graduates from higher education institutions in the region and drive the province’s GDP (21.3% growth compared to the previous year, the second-highest result in the country). This, in turn, initiates the development of metropolitan areas, communication and telecommunication networks. And although average residential property costs have risen in recent years, average wages have followed suit (PLN 8032.96 gross).
– The region’s development is possible while maintaining a balance between economic and infrastructural development. Therefore, we focus on sustainable transportation, support local entrepreneurs, and provide residents with convenient conditions for work and life. The steady influx of foreign investment is a source of joy, as it is a success of a consistently implemented strategy of attracting foreign investment developed by experts from the World Bank – says Mieczysław Struk, Marshal of the Pomeranian Voivodeship.
Nothing happens by itself
Competitiveness in the labor market is the result of actions by entities such as Invest in Pomerania, a local government initiative coordinated by the Pomorskie Development Agency, as well as InvestGda and special economic zones, and the main cities of the region. Over 12 years of activity, Invest in Pomerania has created over 24,000 jobs. The number of projects implemented by it, and therefore the accommodation of foreign investments in Pomerania, will soon exceed 200.
– Years of experience have taught us that there is always another step to take – comments Wojciech Tyborowski, director of Invest in Pomerania. – So we animate the business environment, support major industry events, and expand the range of services. We are most pleased with information about the development of partners’ activities, such as the recent announcement of Northvolt’s investment.
Pomerania, like the whole of Poland, has long ceased to be perceived as a source of cheap labor for carrying out simple operations by international corporations. Companies such as State Street, PwC, or Bayer process and manufacture the most complicated financial processes here, while Intel and Aptiv laboratories develop technologies used in microprocessors and cars worldwide. These are just a few examples illustrating the potential of Pomerania’s talent pool. Over 80,000 people are studying in the entire province, whose competencies are essential for the region’s further development. The high number of qualified workers is one of Pomerania’s greatest advantages.
– The question of the talent pool is one of the first ones asked by investors during consultations with us. High-quality office buildings are available in many locations, as well as well-developed road infrastructure. Meanwhile, the specific competencies of our employees are invaluable beyond doubt – admits Piotr Ciechowicz, Vice President of the Pomerania Development Agency.
Pomerania looks into the future
The region is very actively involved, among other things, in promoting the semiconductor industry. It is the fastest-growing industrial sector in the world and is expected to reach a value of $1 billion by 2030. The pandemic crisis in the chip industry, which caused months-long delays in the transportation of electronic components, has necessitated the partial relocation of supply chains to Europe. To strengthen its internationally supported position, Pomerania is already joining the race for investors associated with semiconductors.
The first serious step was the preparation of an industrial park in Rusocin, followed by Invest in Pomerania and PSSE joining SEMI – the international association of semiconductor manufacturers. The consequence of these actions may soon be the announcement of another Polish chip factory, precisely in Pomerania. Market forecasts show that it is only a matter of time. This is one of the important opportunities for the region for new development perspectives.
Raport fDi European Cities nad Regions of the Future 2024 is available to download here: https://investinpomerania.pl/wp-content/uploads/2024/02/FdI-European-Cities-and-Regions-of-the-Future-2024.pdf.
