With a GDP of approximately € 140 billion (8% of the national total), 430,000 companies (7% of the national total), and an export of about € 50 billion (10% of the national total), Piemonte ranks among the top 5 regional economies in Italy. The population is around 4.4 million in the entire region (7% of the national total), of which 2.3 million in the Torino metropolitan area.
Capital of manufacturing
Italy is Europe’s 2nd largest manufacturer and in the last 30 years it has always ranked as one of the world’s top 10 manufacturers. Piemonte has strongly contributed to this success, demonstrating to be one of the manufacturing engines of Europe. Around 40% of regional added value is generated by the manufacturing sector and its suppliers. Thanks to this strong industrial vocation that is a fertile ground for continuous innovation and growth, Piemonte is an Italian and European reference point for Industry 4.0: the opening of the Manufacturing Technology and Competence Center (MTCC) and the Competence Industry Manufacturing 4.0 (CIM4.0) will further enhance this role.
Sectors of excellence
Piemonte’s aerospace sector records a turnover of € 7 bn and 20,000 employees. The regional aerospace scenario is further enriched by the presence of the European Space Agency Business Incubation Centre Turin (ESA BIC) and by the heart of Italy’s Space industry hosting players, such as Thales Alenia Space and ALTEC. Piemonte is also the national reference point for the automotive and transportation sector, accounting for about 45% of the national automotive sector’s total revenue and proving to be the leader in terms of automotive and transportation component companies. The region boasts other leading European and international sectors, including: agrifood, cleantech and green building, design, digital technologies & solutions, fashion & jewelry, health & wellness, mechatronics, textile.
The two trans-European transport corridors - Genoa-Rotterdam and the Mediterranean - meet in Piemonte, where new high-speed and high-capacity infrastructure are under construction along the lines. Proximity to the important Upper Thyrrenian ports (Genoa and Savona) and the presence of 3 freight villages (Torino, Novara e Rivalta Scrivia), with more than 5 million sqm, make the region a strategic logistic platform for Europe and North Italy. Torino International Airport guarantees daily flights to all the major European international hubs. Milano Malpensa International Airport is just one-hour drive from Torino.
Highly skilled workforce
Four important universities (University of Torino, Politecnico di Torino, University of Eastern Piemonte and University of Gastronomic Sciences) represent Piemonte’s higher educational backbone, with about 140,000 enrolled students. In Torino, around 10% of the population is represented by university students. These universities, lie at the center of a relevant network of international relations and have a strong R&D base and a good track record of industry collaboration. Piemonte also has 7 Higher Technical Education Institutions (ITS), which provide two-year courses in high technical specialization.
R&D and innovation
Piemonte is the 1st Italian region in terms of private investment in R&D, with a percentage of 1,8% of the regional GDP (national average is 0,8%). The regional ecosystem records about 200 R&D centers. In addition, Piemonte’s 7 Innovation Clusters successfully support the economic growth of innovation- oriented firms by facilitating the access to public funding for collaboration in R&D projects. Moreover, Piemonte’s university incubators represent a unique network of collaboration where incubated companies contribute to the development of the local economic and entrepreneurial system.
Open to Foreign Direct Investments (FDI)
Piemonte is the 3rd Italian region for the number of foreign companies established in the territory: more than 1,300 multinationals and foreign-controlled enterprises have already chosen to set-up a business in Piemonte. These companies expanded throughout the region by opening around 4,000 local units. They employ more than 150,000 people, record a total turnover of around €50 billion and produce an added value of more than €12 billion (about 20% of the regional total). As part of the European Union, companies located in Piemonte have duty free access to more than 30 national markets within the European Economic Area and the world’s richest consumer market of 446 million people, over 330 million of whom share the same currency.
Public support to foreign investors
Regione Piemonte (Regional Government) and its operative branch, Piemonte Agency, support foreign and external enterprises interested in setting up their business in the region. The support services are free, confidential and tailormade and divided into 6 categories: business planning, support to business set- up, identification of incentives, location scouting, organization of incoming missions to Piemonte, and post- investment aftercare.
Pro investment incentives
Piemonte is the 1st Italian region to have created a dedicated financial tool for attracting and financing foreign companies willing to set-up in the territory: the Regional Investment Contract. All the regional incentives are granted through a preliminary evaluation process managed by Finpiemonte, which coordinates the procedures related to the assignment, delivery and monitoring of the subsidies promoted by Regione Piemonte (Regional Government) and financed by European, national, and regional government funds.
Piemonte offers a first-class environment for living, as well as for doing business. High standard schools, accessible public transport and excellent healthcare and social services, rich and varied leisure activities. World famous museums, outstanding mountains that boast some of the most stunning peaks of the Alps, wonderful lakes that are beloved by their visitors, charming UNESCO World Heritage hills and a unique gastronomic offer make Piemonte a welcoming territory waiting to be discovered.
350 SMEs 20,000
employees 7 billion € turnoverRead More