SODERCAN (The Regional Development Agency of Cantabria)

CANTABRIA, INVESTMENT LOCATION

Cantabria is a Region located in northern Spain covering an area of 5,300 km2. As the per capita income of the region is over 75% of the EU average, Cantabria is presently involved in a transition process to an EU Objective 2 region from its former status of Objective 1.

Cantabria population totals approximately 540,000 inhabitants, with greater demographic concentration and economic activity in the region’s coastal area. The city of Santander, the regional capital, is home to about 35% of the total population.

Over the last years Cantabria has experienced remarkable economic growth, above both the averages for Spain and the fifteen members of the European Union.

The region’s economy is distributed among agriculture (3.9%), industry (25.4%), construction (7.5%) and services (63.2%). The distribution of the workforce shows a similar pattern.

The industrial manufacturing sectors represented in the region and their respective weightings in the industrial regional economy include:

The business community is dominated by small and medium sized businesses (SME), although there are some larger companies employing more than 500 people.

Since 1996 the Regional Government of Cantabria, together with the major trade unions and employers associations, has been renewing the "Social Cooperation Pact". This accord is aimed at improving the competitiveness of the regional industries while creating a suitable operating environment for new and existing businesses, hence contributing to social stability, economic growth and job creation. As a result of this pact, social unrest has been reduced to an irrelevant figure.

The University of Cantabria, the technology park currently under construction and the deep concern of the Regional Government towards innovation and technological development are creating a suitable environment for high-tech and R&D companies.

The availability of industrial land is one of the keys to attracting new industries and encouraging existing ones to expand. The Regional Government of Cantabria through the public company SICAN is continuously promoting new and fully equipped industrial sites.

Continuous investments in infrastructure, (natural gas, highway network, high speed railway, telecommunications, etc) together with a strategic location in Spain’s "northern corridor", competitive services in transport and logistics, the port of Santander, as well as a complete package of financial and non-financial incentives, are also contributing to make Cantabria an attractive destination for national and international business.

Renault-Nissan, Bridgestone, Robert Bosch, Edscha, Solvay, Columbian Carbon, Ashland, Kemira, Bosch-Siemens, Nestlé, Westinghouse, Altadis, Teka, Alcatel and Saint-Gobain are some of the multinationals operating in Cantabria.

GFB, an American company producing building materials, is the latest example of foreign investment in Cantabria. GFB has earmarked over 60 million euros for a plant, which will be located over an area of 120.000 square metres and will represent its first productive plant in Europe. The factory is expected to be operative within 2005.

SODERCAN, S.A.

SODERCAN (The Regional Development Agency of Cantabria) was established in 1985 and its shareholders include the Regional Government of Cantabria, the Cantabria Savings Bank and the Cantabria Chamber of Commerce, Industry and Navigation.

SODERCAN is in charge of the economic development of Cantabria and combines its goal of serving the regional public interest with support for new and existing businesses, the attraction of inward investments and the creation of an adequate operating environment for business and industry, hence contributing to regional economic growth and job creation.

SODERCAN is structured in five areas (Business Creation, Industrial Development, Innovation, International and Information Society).

Business support, consulting services, financial packages (grants, soft loans, venture capital, etc), as well as comprehensive assistance for prospective investors through all the stages of starting up a business (from site identification to help with recruitment, financial sources and legal requirements) complete the services rendered by SODERCAN.

Further information under www.sodercan.com

SODERCAN
C/ Hernán Cortés, nº 39
39003 Santander
SPAIN

Tel: +34 942 290 003
Tel: +34 942 367 240
Fax: +34 942 290 276
Fax: +34 942 217 011
informacion@sodercan.com