Economic Strategy Styria 2025 │ S3 strategy Styria
Styria has a clear economic and political vision: The location is to become a Europe-wide benchmark by 2025 for intelligent change and development towards a knowledge-based production society ‒ with a clear commitment to growth based on sustainable usage of resources. Knowledge and innova-tion power are two key qualifications for the future.
New opportunities and offers will develop in markets such as mobility, health and the environment, in particular with a strong focus on new clean technologies. Styria should thereby achieve unique characteristics for themes such as "clean mobility" and "green technologies". Economic pro-gress will be based on technological core competences such as materials technologies, mechanical engineering or digital technologies, which is sup-ported by increasingly dynamic and, to a high degree, internationally ori-ented creative industries that give the location an innovative image and provide added value for companies, brands and products.
Five core strategies
The strategic objectives are bundled into five core strategies and implemented with three performance functions. These objectives form the framework for the work of the Ministry of Economic Affairs in regard to short and medium-term planning and operative programmes and also provide orientation for external key performers and players who contribute to economic and location development.
Core strategy 1: Location development and location management
The orientation of Styrian location development and location management towards the guiding markets of mobility, green tech and health tech as well as technological core competences are to be further implemented in an energetic manner; only then will Styria be recognised internationally.
Core strategy 2: Innovations and R&D promotion
For the domestic economy it is crucial to integrate additional companies in the innovation process and expand the spectrum of innovative services. Styria is to be especially successful in implementing regional know-how in value creation. The R&D ratio of 4.8% is a top rate among European countries and provides an excellent basis.
Core strategy 3: Entrepreneurship & Growth of young companies
Foundations and prospering young companies ensure progress and growth. These companies stand for creativity, willingness to perform and the renewal of the economic structure. For Styria, it will be crucial to increase foundation dynamics and growth capabilities for young companies. Ideal framework conditions are to be created that orient themselves according to international standards. Styria thereby supports the ambitious objective to make Austria the top founder country in Europe.
Core strategy 4: Qualification & human potential
A qualified work force is one of the most important resources in a knowledge-focused production and service society. The availability of qualified employees is decisive for the performance capability of the economy. Today, the demand for specialists already poses a challenge and will further intensify in the coming years due to demographic developments and social value changes. Strengthening human potential is therefore crucial.
Core strategy 5: Internationalisation of companies and location
The export of goods and services secures employment, income and pros-perity for Styria. For the future of Styria, it is tremendously important to internationalise the location on a large scale, which requires respective activities within the state for promoting export and the expansion of the worldwide network.
Guiding markets and themes
The automotive sector has by now become a traditional Styrian strength, a fact manifested in the large number of employees and high export volume. Additional growth opportunities exist in the competence fields of “rail systems” and “aerospace”. Future growth potential espe-cially exists for manufacturing high-value niche products. Besides auton-omous driving, lightweight construction, increasing electronics and IT in vehicles, eco-friendly innovations and “smart production”, advanced by digitisation are also technological drivers. The sector remains enormous-ly important as a driver of innovation.
Efficient and sustainable usage of natural resources is be-coming increasingly important. Styria is currently extremely competitive in the underlying technological fields. These areas exhibit a medium to long-term growth perspective through investments in technology devel-opment. Besides “green energy" and “green resources”, the emphasis is also on “green building”. The guiding theme of green tech also incorpo-rates timber and its value chain as a renewable resource ‒ which is espe-cially important for Styria with its abundance of forests.
Innovations related to health and food exhibit high growth and employment potential, not least due to demographic processes. Styria has positioned itself within the promising field of health technolo-gy with three strategic corridors in engineering and bio-sciences. The ob-jective for the foodstuffs industry is the bundling of Styrian competences in innovative food processing, food technology, quality and safety and food-specific services.
Technological core competences
The positioning of Styria in guiding markets rests on a broad foundation. Styria has technological core competences in classic engineering disciplines. The following technological core competences are regarded as especially efficient:
Materials and materials technologies with the development and eco-nomic application of high-performance composite materials
Competences in the area of machinery and plant engineering including production and procedural technologies and associated engineering ser-vices
Industry pervasion with new digital technologies including sensor tech-nology and microelectronics
These competences form the foundation for developing new product and service solutions for guiding markets.
The function of creative industries is increasingly focused on innovation support ‒ e.g. in the area of design and usability ‒ within the three guiding themes and in regard to technological core competences; creative indus-tries also perform a function in location development and for the formation of an innovative milieu.
For further information: Economic Strategy Styria 2025 "Growth Through Innovation"