Austria’s economy enjoys a long-held reputation of being among the most vigorous in Europe. Austria, the gateway to Eastern European markets, is now benefiting directly from its proximity to those inexpensive labor markets and growing economies. Austrian companies in the Upper Province – mainly small and medium-sized industrial-based businesses – are currently expanding into Slovakia and Hungary, generating not only good profits but also leading to the creation of new jobs in Austria’s Upper Province. Some 200 Austrian firms are now active in Slovakia. Provincial governor Josef Puehringer was quoted as saying that "all foreign subsidiaries of these companies are profitable, even more than in Austria, and at the same time creating new jobs in Austria."

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