Business Environment Development Indicators in Valmiera Region

Valmiera Region stands out for its significant business activity, which is characterized by dynamic economic development, diverse companies, and increasing contributions to strengthening the local economy. The county is home to numerous business initiatives across various industries, ranging from manufacturing and services to innovations and high-tech solutions. The ability of companies in the county to grow and create new jobs by increasing the workforce size demonstrates Valmiera Region’s important role both regionally and nationally.

According to the Central Statistical Bureau’s GDP data, Valmiera has ranked second among Latvia’s cities for several years, behind Riga. Analyzing data from 2012 to 2022, Valmiera achieved a 111% growth rate (compared to the national average of 71%).

As of 2024, according to Lursoft data, 1,966 active companies are operating in the county. Approximately half of these are registered in Valmiera, with the other half spread across the county.

In 2021, the turnover of Valmiera Region companies was EUR 1.04 billion, rising to EUR 1.38 billion by 2023. These figures reflect the stability of the business environment and its ability to adapt to changing market conditions. Profit indicators show volatility between 2021 and 2023. In 2021, company profits amounted to EUR 69.52 million, but in 2022, they sharply increased to EUR 133.06 million. However, in 2023, profits decreased to EUR 45.12 million. The total number of employees and the companies’ contributions to state social insurance mandatory contributions (SSIMC) and personal income tax (PIT) also saw an increase, reflecting growth in employment and income in the region.

Valmiera Region actively supports business development through modern infrastructure construction, the development of industrial areas, and professional support for both new and existing companies. These factors collectively create a favourable environment for entrepreneurs to implement their plans, fostering long-term economic growth successfully.

TOP companies with biggest annual turnover

Cooperative Society VAKS

VALMIERA GLASS GROUP

Ltd. AIMASA

BONO

VALMIERAS PIENS

PIENA LOĢISTIKA

VIDZEMES SLIMNĪCA

WOLTEC

VALPRO

CULIMETA BALTICS

MŪSU AUTO VALMIERA

PADTEX INSULATION

ZAAO

LIEPKALNI

SANART

VALMIERAS ŪDENS

KLASMANN-DEILMANN LATVIA

STRENČU PSIHONEIROLOĢISKĀ SLIMNĪCA

MEŽA ENERĢIJA

BITUS LATVIJA

 

Justīne Skrastiņa, Anete Todu
Valmiera Development Agency

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