Austrian Business Agency

Austrian Business Agency (German: Österreichische Industrieansiedlungs- und WirtschaftswerbungsgmbH) (ABA-Invest in Austria) is the national investment promotion company of the Republic of Austria.[1] The organization is responsible for acquiring and providing professional consulting services to foreign companies that intend to establish a subsidiary or business operations in Austria. ABA provides information about Austria as a business location and advises companies on all relevant issues. The business settlement agency was founded as ICD Austria by the ÖIAG[2] in 1982, and renamed Austrian Business Agency (ABA) in 1995. On the occasion of its 25th anniversary in 2007, ABA changed its corporate design and now uses the name ABA-Invest in Austria instead of Austrian Business Agency, because it shows more clearly the purpose of the company. ABA-Invest in Austria employs a staff of 25 people.

ABA supported a series of prominent international companies such as Sony, Infineon, Ikea, Matsushita Electric Works, Hutchison Mobilfunk, Holmes Place and Starbucks in their setting up business operations in Austria.

A specialized organization belonging to ABA, Location Austria, has been promoting Austria as an international film location since 1998. Location Austria in cooperation with Austria Wirtschaftsservice GmbH (aws) is responsible for coordinating funding measures within the framework of the initiative "Film Industry Support Austria" (FISA). This comprises an initiative of the Federal Ministry of Science, Research and Economy to support cinema films based on a non-repayable grant amounting to 25 percent of the Austrian film production costs entitled to funding. Due to the major success of the initiative, the funding model "Film Industry Support Austria" (FISA) has been extended for another two years. For more information refer to www.filmindustrysupportaustria.com.

Areas of activity

Austria is in competition with the international community of states to attract foreign direct investment. The national investment promotion company aims to promote the competitive advantages of Austria as a business location, and expand the awareness of Austria as an industrial nation. Austria is the fourth most prosperous country in the EU,[3] but is primarily considered to be a tourist destination and a cultural mecca.

ABA supports foreign companies in establishing their own business in Austria. Potential investors are informed about Austria as a business location, as well as about the economic, political and legal framework. The areas of activity of ABA-Invest in Austria include setting up all necessary contacts in Austria, identification and selection of appropriate sites, compiling all relevant information for a company such as cost factors (e.g. labor and infrastructure costs), tax aspects or the performance of different business sectors in the country. ABA is also available as a consulting partner for all expansion investments.

Foreign direct investments in Austria

ABA-Invest in Austria achieved record results in 2018, providing professional support to 355 international companies setting up business operations in Austria. Total investments amounted to EUR 734,48 million, creating 2,888 new jobs.

108 business location projects in 2018 originated in Germany, the traditionally strongest investor nation. Accordingly, Germany was responsible for 30% of all ABA projects. Switzerland was the second most important investor with 36 new projects, surpassing Italy with 28 business location projects. Fourteen firms from Great Britain located in Austria in 2018 with the support of ABA, twice as many as in the seven projects in 2017.

Interest on the part of companies from the CEE/SEE countries remains high. The region accounted for 88 investment projects in 2018, or about one-quarter of all new ABA business location projects. Hungary was ranked first (17) companies, followed by Slovenia (14), Russia (10) and Slovakia (8). With 377 regional headquarters of multinational companies, headquarters location Austria is far ahead of its CEE competitors, namely Poland, Slovakia, Hungary and the Czech Republic. Austria is in the top ranks when it comes to international ratings for “soft” location factors such as quality of life, legal certainty, health care infrastructure and a clean environment.[4]

On balance, ABA-Invest in Austria has concluded 4.177 international business location projects, attracting total investments of EUR 9.9 billion and creating 60,588 jobs, since its founding in the year 1982.

Number of companies settled in Austria, ABA-projects (Source: ABA-Invest in Austria)
Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Companies 82 107 123 152 201 256 158 198 183 201 228 276 297 319 344 355

See also

References
  1. Bundesministerium für Digitalisierung und Wirtschaftsstandort (BMDW) der Republik Österreich|Federal Ministry for Digital and Economic Affairs www.bmdw.gv.at
  2. ÖIAG - Österreichische Industrieholding AG, www.oebib.gv.at
  3. Eurostat 06/2018, BIP pro Kopf in KKS
  4. World Competitiveness Yearbook 2016, „Quality of life“, “Pollution Problems”, “Health Infrastructure”, “Risk of political Instability”
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