Idar-Oberstein - Economy and Infrastructure

Economy and Infrastructure

All together, Idar-Oberstein has roughly 219.3 ha of land given over to commerce. Three other areas in town, Dickesbacher Straße, Finkenberg Nord and Am Kreuz, hold a further 28 ha in reserve for economic expansion. The town also has at its disposal the rezoning area Gewerbepark Nahetal in the outlying centre of Nahbollenbach, comprising 23 ha.

The Bundesverband der Diamant- und Edelsteinindustrie e. V. (“Federal Association of the Diamond and Gemstone Industry”) has its seat in Idar-Oberstein. It represents the industry’s interests in dealings with lawmakers as well as federal, state and municipal representatives. It advises members in areas such as environmental protection, problems in competition, questions of nomenclature and so forth, and makes the necessary contacts as needed. To promote the designing and quality of jewellery and gemstones, the Association created the international competition revolving about the German Jewellery and Gemstone Prize.

The Deutsche Diamant- und Edelsteinbörse e. V. (“German Diamond and Gemstone Exchange”) was opened in 1974 as the world’s first combined exchange for diamonds as well as coloured gemstones. It is one of the 25 exchanges in the World Federation of Diamond Bourses.

The firm Klein & Quenzer was among the best known producers of costume jewellery before it rose to become the biggest manufacturer of German medals and decorations during the two world wars.

The Wirtschaftsjunioren Idar-Oberstein were founded in 1972. Entrepreneurs and senior management join in this organization for economic, cultural and social purposes in the region.

The cookware manufacturer Fissler has its headquarters in town. The company became well known for its invention of the mobile field kitchen in 1892. Giloy und Söhne, one of Europe’s biggest diamond jewellery manufacturers, has its headquarters here, too.

For more than 20 years now, the International Trade Fair for Gemstones, Gemstone Jewellery and Gemstone Objects (“Intergem”) has been held in Idar-Oberstein. Some 130 exhibitors present exquisite gemstones in modern and classical cuts, flawless jewellery, artistic engravings, sophisticated chokers with coloured gemstones, uncut gems, the whole gamut of cultured pearls and all that goes with them. The fair takes place at the Jahnhaus in the constituent community of Algenrodt, although as of 2008, a move to the planned exhibition hall in the new Nahetal commercial park (former US Army storage depot Nahbollenbach) was being considered.

The Idar-Obersteiner Wirtschaftstage (“Economy Days”), initiated by the Idar-Oberstein Economic Promotional Association, are regarded in and around Idar-Oberstein as a regional fair.