Greater Zurich Area’s newest member canton Uri is experiencing an unparalleled level of investment right now. While especially the Andermatt tourism project is enjoying a strong national and international media presence, it surely is hard to find a region where so much is being invested in such a small area. This creates economically important growth prospects and means the region is anticipating a bright future.
The snow that’s already fallen in high-lying areas has got winter sports enthusiasts looking forward to the coming winter season with growing anticipation. And in the canton of Uri, the anticipation is particularly strong this year. The ski season in Andermatt will be kicked off on November 3, and the area convinces with impressive developments. The new transport facilities and ski slopes from SkiArena Andermatt-Sedrun mean there’s a particularly large number of new things to experience this winter. This years’ level of construction has been unparalleled. 200 people are currently working on eight different construction sites just to connect the ski resorts of Andermatt and Sedrun. A total of 14 transport facilities are being built, but there will also be new ski slopes, snow cannons and restaurants. Significant investment is also being made in “Andermatt Reuss” holiday village itself, for example in the Gotthard Residences with the new Radisson Blu Hotel, which includes a convention and concert hall.
Andermatt Swiss Alps AG and Egyptian investor Samih Sawiris’ investments in developing the new tourist resort already totaled CHF 725 million by the end of 2016. Investments of this size are surely unique in the Alps at the moment. The fact that this is happening in Andermatt might astound you. Around 12 years back, no one could even imagine a development like this. The gradual withdrawal of the army meant jobs were being lost and the population was steadily decreasing. As a result of the investments by Andermatt Swiss Alps AG, fast approaching the billion mark, the centrally located mountain village has now definitively found its way back onto the tourist map. The strong presence in international media, increasing numbers of overnight stays and considerable investments by third parties are proving this. But the positive impetus can also be felt beyond the field of tourism: Andermatt is showing a tendency towards a rise in the population again and many new companies are setting up business in the area surrounding the tourist project. Tax revenue in the Municipality of Andermatt has increased drastically in just a few years and the village has already been able to lower its tax rate.
But the Andermatt tourist project is not the only large project in this dynamic business location. The canton at the intersection to the Italian-speaking area of Switzerland is the site of unique investment projects: The Gotthard Base Tunnel – the longest tunnel in the world – opened last year and creates an even shorter route to the south. Moreover, millions of francs are about to be invested in a new train station in Altdorf, which will enable regular stops by intercity trains. Investments in the second Gotthard road tunnel, the new construction and remodeling of the cantonal hospital, an interchange for the highway at Altdorf and a new west-east road connection in the valley floor have already been approved, too. The canton of Uri wants to benefit sustainably from these investments in terms of the economy: Attractive spaces in Werkmatt Uri are being offered for sale to investors interested in a prime location in order to create jobs with a long-term future. In so doing, the canton of Uri is ensuring that the anticipation of a bright future will continue for years to come.
About the author
Stefan Büeler is the Head of the Business Promotion of the Canton of Uri. He is the key contact partner for all questions related to set up business in the canton of Uri (member of the Greater Zurich Area since 2015). He and his team support companies interested in the business location Uri as well as existing companies. Before being appointed to the Head of the Business Promotion this year, he worked in the economic and tourism promotion of the canton of Uri for more than six years. Stefan Büeler holds university degrees in Public Management & Economics as well as in Business Development & Promotion and studied in Lucerne, France and Sweden.