Wirtschaftsstandort Oldenburg

Fußgängerzone in Oldenburg
Pedestrian area in Oldenburg
THE REGION’S ECONOMY: AN OVERVIEW
23
“In recent years, the economy in the North West has
turned into something like a powerhouse for our economy
in the State of Lower Saxony. The food sector, the
aviation industry, logistics and the maritime industry
together with other branches are role models in this
success.” There can scarcely be any better way of briefly
describing the current economic status of the Oldenburger
Land than using the words chosen by Lower
Saxony’s Prime Minister Stephan Weil in early 2014 at
the New Year Reception of Oldenburg’s Chamber of
Commerce and Industry (CCI). Looking back at developments
over several centuries, one could also say that
a region which had essentially been a poorhouse has
become a boom region.
There are two main reasons for the good development of
the region. On the one hand, as applauded by Stephan
Weil, it offers a highly varied branch structure with a mari -
time focus in the North and an agrifood focus in the
South. On the other hand, the economy is shaped by
family-run businesses in a strong SME sector, embodying
traditional values such as a willingness to work hard, a
sense of community and ambition together with a downto-earth
approach and family cohesion.
A look back over the last 20 years or so shows just how
successfully the economy has developed in the Oldenburger
Land. Over this period, value creation in the CCI
district increased by more than 60 percent to reach
30 billion Euro today. The rural districts of Vechta and
Cloppenburg were particularly successful with increases
of about 160 percent and 140 percent. The number of
those in work also grew constantly in this period by
around 27 percent to reach nearly 540,000. The number
of gainfully employed workers increased by about the
same extent and is now around 360,000.
The service sector is the strongest branch of the economy,
accounting for a good 32,000 of the approx. 66,000 CCI
companies. In recent years, these businesses have been
Continued on page 29