Lodz trade and industry plays a major role in the Polish economy. Lodz is known in Europe for its thriving textile industry. Service industries like printing also provides a significant number of jobs in Lodz. The other industries that dot the region are energy, IT, food and beverage processing industries. In recent years, Lodz has been witnessing economic developments. It has become the regional center for trade.
The trade and industry of Lodz is characterized by healthy combination of both agricultural value addition and standard equipment manufacturing. Industries like food processing contribute a major chunk of revenue to the Lodz economy. Textile industries also play a substantial role. The local economy is made up of small manufacturing companies. Most of these small companies manufacture terracotta and ceramic tiles.
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The energy industries produce energy from brown coal. The entrepreneurial side of the Polish citizens is apparent from these business ventures.
Many European companies have outsourced their non-core business activities to Lodz. A high quality of research is also being conducted in the Polish city of Lodz. Phillips Company of Netherlands has its research division in Poland. The company also has its accounting center in Lodz.
Lodz has the advantage of being a higher intellectual capital compared to its peer European cities. More than half of the population is high school graduates. This has resulted in higher end service industries like non-voice outsourcing services. The Lodz Special Economic Zone was set up by the city government in order to facilitate both the foreign and domestic investors.
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