Press Release: Industrial revolution brings industry back to Europe

On the 10 October 2012 the European Commission adopted a Communication 'A Stronger European Industry for Growth and Economic Recovery. Industrial Policy Communication Update'.

The Communication responded to the important challenges the European industry faced as a result of the current economic crisis making proposals that should have impacts on the short and medium term. It reviewed the situation of the EU industry since the Commission’s Industrial Policy "An Integrated Industrial Policy for the Globalisation Era" (COM(2010)614) adopted in October 2010, in the context of the Europe 2020 strategy.

The economic and financial crisis has badly affected EU industry. Industrial production at the end of June 2012 was still 10% lower than pre-crisis. In addition, since the onset of the crisis, over three million industrial jobs have been lost, some 10% of the sector's employment. Total investment in the economy has fallen from 21.25% of GDP before the crisis (2007) to 18.6% (2011). It was critical for Europe to foster investment in new technologies that have reached the stage of industrial scale production, the stage where technological leadership translates into competitiveness, growth and jobs.

With this Communication, the Commission intended to create the conditions to maintain a strong industrial basis in Europe. It aimed at strengthening industrial competitiveness to underpin growth and jobs and to enable the transition to an innovative and resource-efficient economy.

The Commission identified four priority areas, which needed urgent attention as a result of the economic crisis:

1. Stimulate investments for promising target sectors such as clean products and vehicles, bio based products, key enabling technologies and smart grids.
2. Allow EU companies to derive maximum benefit from the international markets and the Internal Market, the last one by improving market surveillance, intellectual property rights, and by undertaking fitness checks to assess the overall legislative framework in a particular policy area and competitiveness proofing.
3. Concrete proposals to improve access to finance, particularly for SMEs.
4. Ensure that skills meet industry’s needs. The aim is to converge towards the on-going new industrial revolution.

European Commission: Memo/12/760: Overview of competitiveness in 27 Member States http://europa.eu/rapid/press-release_MEMO-12-760_en.htm

European Commission: Memo/12/759: Industrial revolution brings industry back to Europe http://europa.eu/rapid/press-release_MEMO-12-759_en.htm

EurActiv, 11.10.12: Commission seeks 'new industrial revolution' http://www.euractiv.com/specialreport-industrial-policy/commission-wants-new-industrial-news-515338

European Commission: DG Enterprise and Industry: Mission Growth: Europe at the Lead of the New Industrial Revolution http://ec.europa.eu/enterprise/initiatives/mission-growth/index_en.htm

---