"IMS Gear Construction Initiates Initial Factory Establishment in Europe, Excluding Germany, at Osijek"
In a significant move for Osijek, Croatia, the globally recognized industrial company, IMS Gear, is set to establish its first European production facility outside Germany in the city. This development marks a promising step forward for local employment, economic growth, and the broader Croatian economy.
Boosting Employment Opportunities
The new plant, situated in the Nemetin Business Zone of Osijek, is expected to initially employ up to 300 workers. This addition supports an already positive employment trend in Osijek, where the number of employed people has increased by approximately 4,500 over the past four years. The arrival of IMS Gear is anticipated by local officials to further strengthen employment growth and opportunities in the region.
Stimulating Economic Growth and Investment
IMS Gear’s decision to build the large-scale factory in Osijek reflects substantial investment confidence in the local economy. The City of Osijek sold IMS Gear a 33,442 square meter plot for about €1.1 million in 2023, emphasizing the city’s proactive role in attracting foreign investment. The plant’s presence complements other high-tech industrial investments in Osijek, such as the American firm Jabil, which plans to employ thousands in similarly advanced manufacturing sectors.
Enhancing Croatia’s Position in Global Manufacturing
IMS Gear is a leading global developer and producer of critical automotive components used worldwide, contributing to around one in every four cars globally containing their products. Establishing operations in Croatia enhances the country’s position in international automotive supply chains and industrial manufacturing, particularly in high-tech, precision drive solutions. This could stimulate further industrial development in the eastern region of Croatia, boosting economic dynamism and creating opportunities for technology transfer and skills development.
In summary, the IMS Gear plant in Osijek is expected to create hundreds of new jobs directly, attract considerable foreign investment, and reinforce Croatia’s status as a rising hub for high-tech manufacturing, contributing positively to local and national economic growth. The decision by IMS Gear to choose Osijek for its first European plant outside of Germany is significant as Osijek and its region have a history of emigration and wealth disparity compared to other parts of Croatia.
The establishment of IMS Gear's factory in Osijek is not only anticipated to create employment opportunities for up to 300 workers, but it also signifies a substantial investment in the local economy by the finance sector. Additionally, the plant's production in the manufacturing industry is expected to boost the city's position in global automotive supply chains, thereby stimulating industrial development in Croatia.
