Economy Of Graz
Because of its prime position in southeast Austria, Graz plays a vital location role for both national and international companies.The central business area of Graz employs over 40% of Styrians and produces over one-third of the industrial added value in the federal state of Styria.One third of all high-tech developments in Austria are produced in the innovation and technology hubs of Graz and Styria.
Of the 10,692 businesses in Graz in 2003, 184,135 were engaged in the service sector, mostly in public administration, commerce, banking, and insurance.That number was still 158,268 in 2001, though.In 2003, 996 new companies were founded in Graz.Over 200,000 people regularly register for the Graz Autumn Fair and other trade fairs, which have been held in the Graz Exhibition Center annually since 1906.The great economic pull of the city means that over 75,000 of its workers commute.Over forty percent of all economic output in Styria is produced in the core area of Graz.
Business and Economic History
The most important economic center in the region and southern Austria, Graz is also home to the headquarters of major national and international companies.Among the large and well-known employers are the plant maker Andritz AG and the car manufacturer Magna Steyr, a worldwide active company founded by the Austro-Canadian Frank Stronach and located on the former Eurostar automotive production site.The forerunner was Steyr Daimler Puch.The Puch plant in Thondorf converted Steyr factories.Graz-born Johann Puch founded his company in 1899; during World War II, the facility was moved to Thondorf in order to produce for the armaments industry.
Graz is well-known worldwide for its very specialised mechanical engineering and environmental technology companies, especially in the SME sector.Shoe store Stiefelkönig was established in 1919 in Graz.Leading firms in Graz include AVL List, headed by Helmut List and Anton Paar, Merkur Versicherung, Grazer Wechselseitiger, many banks, and a wide variety of medium-sized, small, and micro-companies from business and industry.The same-named brewery in Puntigam is now a division of Heineken.Up to its deactivation in 1947, there were in the Eggenberg Reininghaus brewery.The Puntigam location for Reininghaus beer bottling.
Over its long history, the Graz city region has produced a large number of historically noteworthy companies.Former Graz businesses include the machine and motor maker Simmering-Graz-Pauker, the Graz sugar factory, which was established in 1825 and closed at the end of the 19th century, the first Styrian sparkling wine and wine wholesale company of the Kleinoscheg brothers, and the car manufacturer Ditmar & Urban, which produced just one model between 1924 and 1925.
West of the southern runway stood steel dealers Kovac, which is now a hardware store car park and shopping north, and Waagner-Biro, which is now Helmut-List-Halle.The district heating network is still supplied waste heat and concrete reinforcement steel by the scrap-melting Elektrostahlwerk Marienhütte.
Autoclusters
Over 180 Styrian companies engaged in the automotive supply industry are members of the rapidly growing Autocluster Steiermark (also known as “ACstyria”).The hub of the autocluster is in Graz.The biggest and strongest company is the Magna group.About 44,000 individuals worked for the Autocluster in 2006, which also generated revenues of 9.6 billion and added value of 1.6 billion.In the recently created St. Peter area of Graz, KTM manufactures its X-Bow sports car.
In addition, sectors including environmental technology, medical technology, nano and biotechnology, and aircraft construction are growing quickly inside city limits.
Shopping streets and shopping centers
Graz is a major national retail center with a catchment area that stretches well beyond the limits of the city and its environs to southern Burgenland, Slovenia, Hungary, and Croatia.
Herrengasse is a well-known shop street in the city core.Formerly a thriving shopping route, Annenstrasse goes west from the main plaza to the main train station.In the meanwhile, it has mostly lost its historical relevance despite little attempts at revival.Other retail streets are Sporgasse, Murgasse, and Sackstrasse, which contains a number of small galleries and arts and crafts stores.
The largest and oldest department store in Graz, Kastner & hler, is situated on Sackstrasse.Shopping centers include “Shopping Center West” on the Weblinger Belt, “Murpark” on the Liebenauer Tangente, “Citypark” on the Lazarett Belt, and “Shopping North” in Gösting, at the Wiener Strasse junction – Motorway feeder north.
Situated in the Graz district of Seiersberg-Pirka lies retail City Seiersberg, the biggest shopping center.Puntigam intends to build an outlet complex.Since “Shopping Nord” opened in March 2008, Graz boasts the highest density of retail complexes in Austria.As such, every city dweller has at least one square metre of retail space.
Farming
The biggest farming community in Styria is in Graz. About 340 farms in the metropolitan area house roughly 7,600 cattle, pigs, lambs, chickens and other poultry, goats, and farmed game. All year round, farmers offer their unique culinary delights at 14 different farmer’s markets.Among the biggest and oldest in Graz are the markets on Kaiser-Josef-Platz and Lendplatz.The renowned and quickly expanding top gastronomy of the city also offers a wide range of fresh, organically grown food.
