Competitive and full of talent

The Valencian Region has a highly productive and competitive business and professional environment, with a highly qualified workforce.

• According to the OECD, Spain, together with Sweden, Greece, and Ireland, are the most competitive economies:
  • in terms of unit labour costs and
  • in terms of industrial energy supplies (gas for industry and telecommunications) which are cheaper than in Europe.
• Salaries in the Valencian Region are
  • 15% lower on average than in Barcelona./li>
  • 21% lower on average than in Madrid.
  • These differences go up to 40% for highly qualified staff.
• Setting up an office in Valencia on industrial land can generate savings of up 90%, compared to Madrid.

Another key factor for business competitiveness is a propitious R&D&I environment. In the Valencian Region, innovation policies for R&D have been strongly supported as a tool to drive the economy, and to help companies become more competitive.

• The consolidation of a powerful network with 11 technology centres (REDIT), a scientific research centre network with its own research centres, and the promotion of innovation and development projects.

The Valencian Region has the following academic institutions:

• Five public universities.
• Six private universities.
• Five science parks located inside the universities.

• Valencia is the fourth city in the human resource category, behind Oslo, Amsterdam, and Helsinki¹.

¹TOP 10 published in the FDI Intelligence report “European Cities and Regions of the Future 2012-2013”.

• Another initiative to promote R&D&I is the Valencian Region University Network for the Promotion of Research, Development, and Innovation (RUVID):
  • RUVID has promoted the signing of a cooperation agreement between the five public universities in the Valencian Region, and two private Valencian universities (CEU and the Catholic University of Valencia).
  • Its aim is to promote scientific research, technological development, and innovation in all areas.