Regional Business Structures

A well-divided business structure is one of the  reasons behind the high employment rates in the Vaasa region.

There are some 7 000 businesses in the Vaasa region, of which about 90% are SMEs. The public sector employs the most people in the region, followed closely by industry and the service sector, including commerce. Both industry and commerce have a largely international profile, and a number of foreign businesses have established themselves in the region. This internationalisation serves as a platform for businesses with high export rates.

On a per capita basis, the Vaasa region is number one in national export figures, and is second only to the Helsinki region in total productivity figures.

Competence in complementing fields

Businesses establishing themselves in the region are attracted by the versatile business  life, an optimistic entrepreneurial spirit, the multilingual environment, and easy access to cutting edge competences. The region has strong traditions in a number of trades, including wood processing and boat building, as well as in the chemical, metal and electronics industries. Overall, industry throughout the region is extremely vibrant, thanks to the broad local know-how in energy efficiency and the global demand for environmental technological solutions. This can be seen particularly in the region's energy industry.

Clustering for greater efficiency

There are a number active business clusters in the region, such as those in the energy, metal and boat building sectors, as well as the wood industry companies. The energy cluster, which is the largest in the Nordic countries, consists of more than 100 businesses, which together employ some 10 000 people. The businesses in the energy cluster produce diesel, gas and electric engines, power plants, electricity transfer and distribution systems, frequency converters and wind power components.

The Ostrobothnia Metal cluster comprises more than 300 companies in Ostrobothnia,
many of them suppliers to the energy industry. Organizations such as VASEK (regional development), Merinova (technological development), Vaasa Energy Institute (energy research) and Woodpoint (the wood industry), are important players in these networks of businesses, research institutes and development resources.

Innovative synergy effects

The Vaasa region invests strongly in the development of logistics and welfare services. Natural synergies arise, for example between the energy and construction industries, in the building of low-energy houses with decentralized energy solutions. The boat industry's know-how in the use of efficient materials can also be utilized in the wind power industry, whilst furniture manufacturing expertise is useful in the boat industry.

Primary production and commerce go hand in hand

As a counterbalance to industry, the Vaasa region also has traditional agricultural production and a vital country life. There are farms specialized in ecological produce and countryside tourism, as well as a lively home district business. Greenhouse cultivation and fur
farming are strongly represented. In the Vaasa region, primary production employs an average of some 14% of the workforce.

The food industry has great significance to the survival of regional agriculture. The region has special advantages in the processing of meat, fish and potatoes, as well as active bakery, berry and health food product businesses, and a rapidly growing ready-prepared food industry.

Vaasa is a well-established commercial centre for the entire region. Here one can find a high concentration of international retail chains and service enterprises in a variety of fields, from fashion to construction engineering.