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© Dieter Schewig / Westend61
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Attractive research and innovation location

ABA’s INVEST in AUSTRIA business area coordinated the handling of 1,354 inquiries on the part of international companies in 2023 and ended up overseeing 496 ongoing business location and expansion projects.

The total of 325 business location and expansion projects which were ultimately implemented by INVEST in AUSTRIA along with the regional business promotion companies are expected to create 2,419 new jobs. 68 of all realized business location and expansion undertakings involved the field of ICT, followed by business-oriented services (52) and the wholesaler sector (41). 

35 of the implemented projects supported by ABA involve companies conducting research and development in Austria. “We see this as a confirmation of Austria’s steady development into a modern research and innovation location. Austria has been pursuing an attractive funding policy for many years. Our uncapped research premium of 14% for R&D expenditures, numerous direct funding programmes, the country’s inventiveness and the dynamic research community are all compelling arguments for investing in Austria,” says René Tritscher, Managing Director of Austrian Business Agency.  

International life sciences companies invest heavily in Austria 

The life sciences sector displays the biggest enthusiasm for research, as demonstrated by its research institutions and clusters working together with a large number of pharmaceutical, medical technology and biotech companies and developments in fields such as cancer research and precision medicine. Multinational companies such as Novartis, Takeda, Octapharma and Fresenius Kabi and many other firms in the sector once again announced plans in 2023 to invest hundreds of millions of euros in their Austrian facilities. 

The large number of international startups (39) consulted by ABA, which decided to invest in Austria in 2023, also comprises a gratifying development. United Micro Technology headquartered in China has been developing 5G modem chips for IoT in Linz since 2023. The deep technology startup Godot Inc. from Japan opened its research and development hub in Vienna. The new legal form of business, namely the flexible company or FlexCo (Flexible Kapitalgesellschaft) fuses elements of the limited liability company (GmbH) and the joint stock company (AG), is designed to strengthen the competitiveness of Austria as a business location and make Austria attractive to international startup founders.  

The promising energy and environmental technology sector registered 23 new projects and is thus the fourth most important sector for new investments. Two examples are given here. Bosch will invest about € 18 million at its Linz facility alone to expand its hydrogen infrastructure. The newly founded company Mer Austria GmbH, subsidiary of the Norwegian energy company Statkraft, is establishing a sustainable quick charging infrastructure in Austria for electric-powered vehicles.  

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