The economy in Groningen is changing. Until recently, the city boasted numerous industrial productions which disappeared in a result of city growth and global economic trends. IT, hospitality, life sciences, tourism, energy, and environment are taking over the economy of Groningen. This shift from industrial to service-based economy did not take the city by surprise. Groningen is gradually growing and this growth slowly pushes industry outside the city, making room for a service-based economy. The city has great potential for becoming a top-notch business location. This is ensured by a range of factors:
Outstanding geographical location. Groningen is a major and the most important city in the north of the Netherlands. It has access to the sea, the German border as well as great transportation links with the rest of the country. The educated talent pool, able to fill job positions that require high qualification. There are about 60 thousand students studying at the University of Groningen or Hanze University of Applied Sciences. Local graduates obtain globally-recognised diplomas in various degrees and can handle difficult tasks. Already a recognised location. The vacancy rates for office spaces in Groningen have already dropped significantly. The city is not providing enough venues, so the market is experiencing a shortage of spaces, similar to the one in Amsterdam.