Success Stories from the Stuttgart Region

Prognos Future Map 2009: Stuttgart Region with Excellent Prospects

A study conducted by the Prognos institute identifies economic potential and competence: Stuttgart Region at the top

07.12.2009 | 

The Stuttgart Region is the economic area in Germany with the best prospects for the future according to the Prognos Future Map 2009. The Prognos institute researched the prospects of 413 German cities and counties, identifying four counties in the Stuttgart Region which show an excellent combined performance.

The city of Stuttgart and its three neighbouring counties Esslingen, Böblingen, and Ludwigsburg belong to the top 20 regions in Germany. Even a brief glimpse at the "future map’ is enough to demonstrate that the geographic concentration of economic potential is nowhere larger than in the Stuttgart Region.

The study focused on those economic sectors which promise significant growth potential and which are expected to determine the future development of the German economy in the next five to ten years. These include engineering, vehicle construction, logistics, process measuring and control technology, information and communication technology, the healthcare industry as well as high-quality service providers for industry and research. Despite the recent economic and financial crisis, these sectors will continue to gain economic strength and offer both strong growth and market prospects.

A high level of integration into the world market, the production of business-relevant cross-sectional technology, product and process innovation - these are the three criteria which significantly determine future economic success.

When it comes to long-term economic prospects, short-term fluctuations in sales and turnover are less decisive than the level of technology and skill intensity. The highest growth potential can be found in those areas which invest above average in research and development. According to the Prognos study, the importance of research-intensive industries and knowledge-intensive business services has emerged to be a crucial advantage for the German economy in a globalised world.

The Prognos experts conclude that extensive know-how, cutting-edge technology, and highly-qualified employees are the most important factors to guarantee that Germany remains a successful and globally competitive business location.

The development of clusters - networks of companies, research and education institutions, as well as supporting organisations facilitating cooperation - is another essential aspect. Therefore, it is the duty of modern policy makers to facilitate the formation of structural elements such as clusters.

The Stuttgart Region Economic Development Corporation has already been pursuing this strategy for a decade. Starting in the year 2000, regional competence and innovations centres - acting as technology-based innovation networks and intermediaries between companies, research facilities and institutions - were established by the Stuttgart Region Economic Development Corporation to support small and medium-sized companies. These regional competence and innovation centres improve access to scientific expertise, secure technological progress and accelerate the transfer of research results into marketable products.

In the meantime, approximately 450 companies, nearly 50 research facilities, and 15 municipalities are closely involved in the 14 Stuttgart Region competence and innovation centres.

For more information on Stuttgart Region competence and innovation centres please visit:
http://www.kompetenzzentren.region-stuttgart.de/en/

Source: Wirtschaftsförderung Region Stuttgart GmbH (WRS GmbH)