Styria is called Austria's green province. In the midst of a beautiful landscape, business can thrive. Graz is the capital city and the economic focus of the region.
Styria has evolved into one of Europe's
most innovative regions in recent years and has ultimately kept hold of its reputation for innovation even through tough economic times. With R&D accounting for 4.3 % of the region's GDP, Styria has exceeded the EU target of 3 % for years, an innovation indicator that has ranked it second amongst European regions. A main contributing factor for this success is the close partnership between business and science, e.g. in centres of excellence.
The new „2020 Styria economic strategy: growth through innovation“ concept builds on the strategy of „innovation as standard“. „The objective is to establish Styria as a European benchmark for the switch to a knowledge-based manufacturing style,“ explains Christian Buchmann, member of the Styrian government. The 2020 Styria economic strategy is thus directed towards new areas of focus for the future orientation of economic promotion. Styria's strongest fields will be divided into three themes which are viable for the future:
- Mobility: Styria's traditional strength in the automotive sector will be expanded to include „clean mobility“ opportunities existing in the manufacture of high-quality niche products and the incorporation of the aviation and train system technology sectors in the product range.
- Ecotechnology: positioning when it comes to environmental technology (ecotechnology) is all about efficient and sustainable use of natural resources, and there is a distinct competitive edge in this field. This theme also includes wood, one of Styria's renewable natural resources.
- Health technology: this third theme focuses on innovations in health and food technology, which present a huge source of potential for growth and employment thanks to demographical processes. Additionally, companies in this segment have proven to be extremely resilient and have even experienced further sustainable growth in tough economic times.
Source: www.wirtschaft.steiermark.at, Department of the Styria State Government