Despite a slowdown in France, Provence-Alpes-Côte d'Azur attracted 125 international projects in 2024

The South of France is still a magnet for investment in its globally acclaimed sectors of excellence, including AI, health, and decarbonization

 

Although the 125 incoming investment projects that were confirmed in 2024 aren't creating as many jobs as the 2023 investments, they are boosting the sectors of excellence in the South of France, with 62 projects creating 1580 jobs in the eight strategic sectors covered by the OIR economic development program.

 

Thanks to a strengthened prospecting and promotion campaign for the region's strategic sectors that was carried out by risingSUD in conjunction with its partners, the South of France attracted 12 artificial intelligence projects that will create 192 jobs (compared to five projects and 112 jobs in 2023), including Accenture's new AI laboratory in Sophia-Antipolis.

 

The South of France is also attracting projects that meet the regional objectives for industrial sovereignty and carbon neutrality. Companies in the aeronautics, naval, and rail sectors confirmed five new projects that will create 223 jobs (vs. two projects for 25 jobs in 2023) and stakeholders working for the decarbonization of industry, including the British company VEV, signed deals for seven new projects that will create 522 jobs in 2024 (four more projects than in 2023).

 

The South of France is once again proving to be a global center for innovation. In 2024, Provence-Alpes-Côte d'Azur was the #2 region in France for investment in research and development, with 20 R&D projects (vs. 13 in 2023) and 37 new decision-making centers (vs. 26 in 2023). Provence-Alpes-Côte d'Azur also has vibrant ecosystems in biotherapies, green energy systems, sustainable cities, and smart buildings.

 

A business climate that continues to win over companies and reassure investors

 

With 81 planned projects (+3% compared to 2023), the South of France is benefiting from the Région Sud’s ambitious strategy to attract business and investment. The region continues to be a top choice for global companies despite the high demand for property and land and rigorous environmental requirements.

 

Provence-Alpes-Côte d’Azur also attracted 43 projects to expand existing sites, reflecting the confidence of companies already eastablished in the region and enabling the creation of 1611 jobs in the territory (56% of the 2024 target).

 

Metro area continuing to attract investments

 

With 65% of the incoming projects located in major urban centers, the Aix-Marseille, Toulon-Provence, and Nice-Côte d'Azur metro areas remain strongholds of investment. The Var department, which is home to Toulon, has seen the largest increase in investment with 14 projects that will create 530 jobs (vs. 121 jobs in 2023), including the expansion of Lapp-Müller in Grimaud.

 

Investments from a diverse range of countries are strengthening the region's economic resilience

 

Europe remains the main source of investment in the South of France, with 74 projects or 59% of the 2024 total, which accounts for an increase of almost 14% compared to 2023. Germany (15 projects vs. 11 projects in 2023), the Netherlands (12 projects vs. 7 in 2023), Switzerland (6 projects vs. 3 in 2023), and Belgium (6 projects vs. 3 in 2023) were all notable for the increase in investments coming from their countries.. Italy (10 projects) also stood out in 2024 thanks to the takeover of Ascométal in Fos-sur-mer by Marcegaglia (323 jobs maintained).

 

Tunisia is back in the Top 5 investing countries with 10 projects (vs. 4 in 2023) creating 107 jobs, led by startups such as Medpackinter in Nice and Guepard in Marseille. The South of France attracted a total of 14 projects from the African continent (vs. 11 in 2023), including the Côte d'Ivoire companies Cerco and Biokim Control, which were identified and supported by risingSUD during a mission to Abidjan in September 2023. In fact, the Côte d'Ivoire is the leading source of African investment in France (27% of African projects).

 

The United States remains the leading investor in the Sud Provence-Alpes-Côte d'Azur region, with 18 projects, which break down into 10 new projects (including Salesforce in Marseille) and eight expansions. Canada is also maintaining its record of investments with seven projects coming from SMEs.

 

Nearly 1000 international projects have been attracted to the region in the past decade

 

Over the past 10 years, Provence-Alpes-Côte d'Azur has attracted 904 investments from around the world that have created or saved 23 955 jobs in the region. The region set its record for job creation (4147) in 2022 and its record for projects in 2024. This trend illustrates the growing confidence of international investors, who are choosing the South of France in ever greater numbers to set up or expand their businesses. These investments are facilitated by the best-in-class prospecting and support programs offered by risingSUD and its partners.

 

"With 125 new projects in 2024, Provence-Alpes-Côte d'Azur has confirmed it is a highly attractive region for investment and has outperformed the rest of the country. This positive momentum is propelled by our excellent sectors, such as AI and decarbonization, and our ambitious strategy to make our territory more attractive for investment.  We will continue to invest and innovate to make the South of France a driver of growth and a territory of opportunity!" says Renaud MUSELIER, President of the Provence-Alpes-Côte d'Azur Region, Deputy President of Régions de France.

 

"In the context of global political and economic instability, France lost its place atop the podium for European investment, but the country has nonetheless maintained its appeal, and the Provence-Alpes-Côte d'Azur region is doing especially well! Thanks to a strategy focused on our sectors of excellence, we are managing to attract more international projects than ever before, and in 2024, there were nearly 2900 jobs created, particularly in sectors of the future such as artificial intelligence, carbon-free industry, and healthcare. While our major cities are welcoming the majority of international projects, all of our territories are benefiting from direct and indirect economic benefits. These successes are the result of more than 260 meetings that risingSUD and its partners held over the course of the year with investors from all over the world. They are complemented by French investments in the South of France in 2024, which risingSUD is currently measuring and will communicate shortly," explains Bernard KLEYNHOFF, Regional Councillor and President of risingSUD.

 

Read the media release (in French) 

 

risingSUD contacts: Camille KLEIN-GONSOLIN, International Project Manager, economic attractiveness of the Sud region & Virginie VIAL ISNARD, Project Manager for Communication, Media Relations