The number of new companies from other countries settling in the Greater Zurich Area stabilized at a high level in 2022 according to GZA. As per the 2022 annual report presented on March 30, the location marketing organization and its location promotion partners have supported 108 companies with the creation of new subsidiaries in the nine associated cantons, the city of Zurich, and the Winterthur region. Last year, this figure was 129, in 2020 only 89, and in 2019 a total of 109.
The 108 companies newly settled over the past year have created 516 jobs, which is 19 percent lower than the previous year. This decreasing trend reflects the use of new technologies, increasing automation of production processes, and the cross-border labor division of international companies according to the press release regarding the annual report. However, the settled firms plan to create a further 1,292 jobs over the next five years.
In 2022, the frontrunners among the newly settled companies were life sciences with 22 enterprises, followed by 20 companies from fintech and blockchain, 16 from information technology, and twelve from artificial intelligence and computer vision.
Most of the newly settled companies are from the USA (33), Germany (14), and Italy (9). According to GZA, this internationality increases the economic location’s networking and contributes to its resilience. Chairman of the Board Balz Hösly comments in the press release: “We want to attract attractive companies to the Zurich economic region that can create something new for a sustainable future here and throughout Switzerland.”
The 2022 annual report focuses on the circular economy. GZA AG is a founding member of the recently launched circular economy workshop CE123, an initiative from the economy that aims to pave the way for circularity, above all for SMEs. CEO Sonja Wollkopf states: “Along with digitalization, the circular economy is becoming the big business prospect that will lead to more innovation and prosperity.”
