Zurich economic region records 89 new companies
Greater Zurich Area AG and its partners were able to attract a total of 89 companies to settle in the Zurich economic region in 2023. Nearly two-thirds of these are active in the organization's focus industries for location marketing.
The Greater Zurich Area AG and its partners attracted a total of 89 companies to the Zurich economic region last year. Compared to the previous year, the number of companies relocating to the region was 20 lower, Greater Zurich Area AG reported in a press release. “Last year was dominated by geopolitical uncertainties, inflation and a general mood of crisis, which had a direct impact on investment activity,” said Sonja Wollkopf Walt, Managing Director of the location marketing organization. “Despite a decline in the number of companies moving here, we are cautiously optimistic about the future.”
The jobs created by the new companies in the first year also fell short of the previous year’s figure due to the lower number of new companies settling here. However, 1463 new jobs are to be created over the next five years, an increase of 13% compared to the plans of the companies settling in 2022. In addition, 62 percent of the companies relocating in 2023 are active in the focus industries defined by Greater Zurich Area AG. Almost three in ten of the new companies planning to relocate to the Greater Zurich Area.
The location marketing organization highlights the establishment of the Boston Dynamics AI Institute in Zurich as one of the highlights of 2023. According to the press release, this flagship project is primarily due to the activities of the Swiss Federal Institute of Technology in Zurich in the field of artificial intelligence. It describes the reporting year as a “year of breakthroughs in the field of artificial intelligence technology”.