Economy

Chemnitz - A place for investors

Economy and science – Chemnitz was and is a city with a flourishing economy and the spirit of invention. The fileback fastener, the Thermos flask, mild detergent and many more innovations were all invented here in Chemnitz. The “King of Locomotives” Richard Hartmann, Louis Ferdinand Schönherr’s mechanical weaving looms and the founder of the West Saxon knitted fabric industry, Hans Eugen Esche, established the city’s reputation as an economic centre. Industry was not only responsible for developing successful products and generating profits, but also laid the foundations for the excellent reputation of Chemnitz companies, which still opens doors today.

 

Today, Chemnitz is once more a competitive technological centre, and sectors which previously enjoyed success such as the automotive supply industry, mechanical engineering and the textiles industry are still the engines of growth now. Companies value the city’s central location within the EU, its excellent infrastructural links and the short decision-making channels in its administration.

 

Science and the economy have traditionally enjoyed close connections in Chemnitz. This is fostered by the presence of around 50 research and development centres, a dynamic higher education landscape and the most successful technology centre in Eastern Germany. Studies have shown that Chemnitz and the surrounding Erzgebirge (Ore Mountains) offer the most favourable environment in Eastern Germany for new businesses.

 

The Smart Systems Campus at Chemnitz University of Technology is a model example of the interaction between research and the economy. The park, which covers almost 4.5 hectares and is situated in close proximity to the university, connects scientific and technological institutions directly with the start-up spirit, entrepreneurship and economic growth. The Technologie-Campus Süd also makes available an additional 23 hectares for the development of the University of Technology, the Fraunhofer Institutes and technologically oriented companies.

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