How can Upper Austria Continue Its Economic Success?

A study by Prof. Cocca served as the basis to discuss measures to support Upper Austria as a business location.

F.l.: Univ. Prof. Dr. Teodoro Cocca (Johannes Kepler University Linz), Markus Achleitner (Regional Minister of Economic Affairs and Research), Governor Mag. Thomas Stelzer, Mag. Doris Hummer (President of the Upper Austrian Chamber of Commerce), and DI Stefan Pierer (President of the Federation of Austrian Industries).
F.l.: Univ. Prof. Dr. Teodoro Cocca (Johannes Kepler University Linz), Markus Achleitner (Regional Minister of Economic Affairs and Research), Governor Mag. Thomas Stelzer, Mag. Doris Hummer (President of the Upper Austrian Chamber of Commerce), and DI Stefan Pierer (President of the Federation of Austrian Industries).

As part of an effort to ensure that Upper Austria remains a state that can provide employment, support business opportunities, and continue to prosper, the "2022 Upper Austria Standortdialog" took place, giving representatives from leading Upper Austrian companies along with heads at the Upper Austrian Chamber of Commerce and the Federation of Austrian Industries an opportunity to discuss key challenges and measures. The basis for this was, among other things, a recent study conducted by Professor Teodoro Cocca (Institute for Corporate Finance, JKU).

Based on a 2016 analysis addressing the attributes of successful regions, a study of 61 scientific publications from 2021 and 2022 shows that in some cases, there have been significant shifts when evaluating individual factors.

  • In summary, the added value of government/institutions can be underscored with aspects such as strategic prioritization / long-term planning, and supporting networking. The focus is clearly shifting to the issue of skilled workers and workforce mobility (and retaining local students).
  • The transformation processes of clusters and specialization networks are becoming more important. The central question here is just how successfully established clusters can adapt to changing innovation trends on an ongoing basis.
  • In regards to Upper Austria, the short-term priorities include the availability of energy; in the medium-term, it includes competitive electricity and gas costs as well as demographic change and the availability of skilled workers.