Akureyri's Regional  Growth Agreement in brief

Hearkening back to 2004, Akureyri's Regional Growth Agreement is a programme in which public and private parties around Eyjafjörður fjord cooperate in bolstering the local economy. The first entire year of operations under the Growth Agreement was 2005, when the activities of every cluster were launched.

The programme adheres to theories on company clusters, whereby business firms, institutions and municipalities join hands to stimulate the economy. Those branches of employment in the Eyjafjörður area that already stand strong will be in the spotlight, and will receive added support in dealing with international competition. During the term of the Agreement so far, some 400 people have participated in cluster activities, with around 100 companies and institutions sending their representatives to workshops and introductory meetings.

Objectives

The objectives of Akureyri's Regional Growth Agreement are to achieve the following:

• Enhance the Eyjafjörður area as a popular place to live
• In the period of 2003 to 2007, encourage an area population increase of 1,500
• Raise area competitiveness and nurture economic growth
• Develop and strengthen the area's growth sectors
• Increase the number of competitive companies and jobs, augmenting the supply of products and services
• Exploit the possibilities created by joining in international projects ? Attract international investment and knowledge.

Parties to Akureyri's Regional Growth Agreement

The following bodies are party to Akureyri's Regional Growth Agreement:

• Ministry of Industry and Commerce
• Akureyri municipality
• Eyjafjörður Investment Promotion Agency, on behalf of municipalities around Eyjafjörður fjord
• Institute of Regional Development
• University of Akureyri
• IceTec Technological Institute of Iceland - Impra Innovation Centre
• KEA - Kaupfélag Eyfirðinga
• North Iceland Office of the Federation of Icelandic Industries
• Trade unions around Eyjafjörður fjord
• Trade Council of Iceland

The parties to the Agreement are obligated to contribute funds and/or expertise to Akureyri's Regional Growth Agreement. Funds contributed directly to the Agreement total ISK 142.5 million during the period of the Agreement, in addition to contributions of ISK 35 million in the form of specialised expertise. Participation in Akureyri's Regional Growth Agreement remains open, so that businesses and organisations can apply and join in the Agreement.