city on the Arctic
Oulu is the fastest growing city of Arctic Europe. Signs of growth can be seen all over the place.
The strong expertise in ICT has created a unique base for innovations and new business in Oulu. Within the last three years, over 500 startups started operating, and the amount of rented offices has grown 140% within the last year. Bigger investments in the area are from Taiwan, China, USA, and Germany.
Population of Oulu is expected to continue grow around 20% during the next decades. Also the consumer potential is growing, as the amount of wage income tax has grown the most (+3.5%) of all Finnish cities.
Significant city center development projects have been finished: underground parking facility Kivisydän started operating in 2015 and Valkea shopping center opened in 2016. However, they are just the peak of the iceberg – still, around 300-400 million euros in investments on Oulu city center are yet to be realized. There are also several other areas of development in reach of investors.