Bydgoszcz - Economy

Economy

In the city there are 38 banks represented through a network of 116 branches (including the headquarters of the Postal Bank), whilst 37 insurance companies also have offices in the city. JP Morgan Chase, one of the largest financial institutions in the world, has established a branch in Bydgoszcz. Most industrial complexes are scattered throughout the city, however, the 'Zachem' chemical works deserves attention, covering tens of square kilometers in the south-east of the city, the remnants of the German explosives factory built in World War II occupy an area which has its own rail lines, internal communication, housing, and large forested area.

Since 2000, Bydgoszcz has been annually subjected to international 'verification' ratings. In February 2008 the Agency 'Fitch Ratings', recategorised the city, increasing its rating from BBB-(stable forecast) to BBB (stable estimate).

In 2004, Bydgoszcz launched an Industrial and Technology Park of 283 hectares, an attractive place for doing business as companies which relocate there receive tax breaks, 24 hour security, access to large plots of land and to the media, the railway line Chorzów Batory – Tczew (passenger, coal), the DK5 and DK10 national roads, and future freeways S10 and S5. Bydgoszcz airport is also close by.

The city has, in recent years, become one of Poland's most important economic centres. This is especially true for the role the city plays in the economy of the Kuyavian-Pomeranian Voivodeship, of which it is, along with Toruń, capital.

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