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For decades, the Stuttgart Region has been one of Europe’s most important and successful centres of industry and commerce. That’s not just thanks to global players like Daimler, Porsche, Bosch, IBM and Hewlett-Packard. With their uncompromising commitment to quality, small and medium-size enterprises have also played a major role in putting the region where it is today. Some 50 per cent of local companies’ business is with customers abroad. Key industries include automotive manufacturing, mechanical and electrical engineering, IT, media, and publishing.
Enterprises here lead the national field when it comes to investment in research and development, accounting for over ten per cent of German industry’s total R&D expenditure – 13 million euros daily. That is equivalent to 6.1 per cent of the region’s gross domestic product. 24 per cent of jobs are in the high-tech sector – a figure unmatched anywhere else in Europe.
In recent years, the Stuttgart Region has systematically exploited its potential in IT, fuel cells, and nano- and biotechnologies. The establishment of many highly innovative companies has made the area one of Europe’s leaders in emerging technologies. With its close-knit network of research institutions, which work hand in hand with local companies, the Stuttgart Region consistently tops the national league for patent applications.
The Stuttgart Region’s economic strength also makes it an excellent market. With per capita purchasing power of over 19,000 euros, it is one of Germany’s most prosperous areas, generating excellent sales opportunities for local companies. | |
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