Space for development

Gdansk is a city whose nature has for centuries been determined by its strategic location on the crossroads of the European trade routes, as well as an open approach to changes and the entrepreneurial spirit of its inhabitants.

Emphasising the city's European roots the city authorities embark on various actions to meet the challenges of the new united Europe. To that aim they pursue broad-scale investments to upgrade the quality of the infrastructure and the living standards of the local population to the level represented by other cities of the European Union. This is reflected in the share of the investment spending in the total municipal expenditure. The authorities also introduce organisational and legal changes to accelerate investment processes in the city. The city reaches for various financial instruments e.g. loans and municipal bonds.

In order to secure relatively cheap sources of finance the authorities have the city assessed for its creditworthiness by independent and objective rating agencies. Since 2000 the assessment has been entrusted to the international rating agencies of Standard and Poor's and Fitch Rating. Since 2000 Gdansk has also retained the long-term domestic and foreign currency credit rating of BBB with the projections remaining stable. In line with the development-oriented municipal policy in 2004 the City passed the resolution to offer a hundred percent exemption from the property tax to entrepreneurs developing production and services in IT, telecommunications, electronics, biotechnology and industrial control systems, provided that while creating or expanding their business they create at least five new jobs.

The city authorities also took another initiative. They have called a competition for the Gdansk Koga award and the Leader of Enterprise in Gdansktitle. The idea behind the initiative is to promote creative and dynamically developing SMEs in the city. Particular recognition is given to businesses based on the principles of honesty and reliability in business and customer relations. The winners are granted a number of promotional benefits and preferential participation reserved in trade fair events organised by International Gdansk Fairs SA. Whoever chooses to locate his/her business in Gdansk can be sure to find favourable climate and space for development here.