1. WHY INVEST IN TUSCANY Florence, June 2010

2. ACCESSIBILITY & INFRASTRUCTURES KEY FACTS

3.  Population: 3.7 million inhabitants (6,2% of Italy)  Area: 22.994 Km²  Capital: Florence. Other main cities: Livorno, Pisa, Lucca, Siena  Renowned for:  fashion and fine arts (“made in Italy”)  tourism (historic sites, cities, nature)  quality of life  Economy: € 106.073 million (6.7% Italian GDP)  70.4% services, 27.5% industry, 2.1% agriculture  Labour market: 1.7 million people  Unemployment rate: 6.3%, much lower than the Italian and European averages  Manufacturing tradition:  More than 365,000 companies,  12 clusters (industrial districts): fashion-design, marble, wood, furniture, paper, boat building, automotive... International investment:  335 foreign companies, more than 35,000 jobs Source: Italian Bureau of Statistics TUSCANY IN BRIEF

4. 1.ONE OF THE MOST POLITICALLY STABLE REGIONS in Italy 2.A WELL MANAGED REGION providing excellent services to citizens and expatriates 3.TALENTS encouraged by a high-level training offer, with diversified and internationally renowned Universities 4.COMPETITIVE COSTS lower than the Italian and European averages for labour, Real Estate and facility (gas, water, etc) 5.OUTSTANDING SCIENTIFIC AND TECHNOLOGICAL SKILLS AND RESOURCES attracting worldwide references for R&D, particularly in the Life Sciences, Information Technology, Chemicals… 6.MADE IN TUSCANY: A UNIQUE AND VIBRANT INDUSTRY world renowned, built on an long and traditional know- how and with a strong local anchorage 7.THE TUSCAN WAY OF LIFE Why invest here

5. ACCESSIBILITY & INFRASTRUCTURES

6. TUSCANY: A STRATEGIC PLATFORM More than 10% of European GDP and 75% of Italian GDP accessible within a 400km radius around Tuscany Tuscany is a natural entry platform to Italy and a gateway to Euro- Mediterranean markets Source: www.johomaps.com

7. ACCESSIBILITY  Direct flights from Japan to Italy (13hrs): Osaka-Rome Tokyo-Rome  Other flights linking Tokyo and Osaka with Florence through Frankfurt, Paris, Amsterdam, Helsinki, Copenhagen.  Excellent links among Milan, Rome and Florence: By airplane:  Rome-Florence (1hr) By train:  30 daily links Florence-Rome (1hr40)  15 daily links Florence-Milan (1hr35) By car (A1 Highway):  Florence-Milan (3hrs15)  Florence-Rome (2hrs50)

8.  3 key highways ensure good transport links to the whole of Italy:  2 key highways North/South - 1 highway East-West  2 main international airports in Pisa and Florence for passengers and freight, with several daily flights to European and Italian major cities  2 commercial ports in Livorno (ranked: # 7th Italian port, 6th for container traffic, and serving all the major ports world-wide), and Piombino, with immediate proximity to the other major Italian ports  An excellent High Speed Rail network ensuring:  10 daily links Florence-Turin (2hr45)  10 daily links Florence-Venice (2hrs40) A PERFORMING TRANSPORT NETWORK Excellent transport infrastructure and a integrated multimodal network

9. ITALY: A STRONG AND COMPETITIVE ECONOMY

10.  Italy is the 4 th largest economy in Europe (3 rd within the Eurozone), accounting for 13% of EU27 GDP  The 4 th European country in population accounting for 12.6% of the EU27, with 59 million people, amongst the highest economic growth within EU27 ONE OF THE WORLD’S LEADING ECONOMIES Italy is the 4th largest European country Source: Eurostat (2009)

11.  Italy’s GDP is estimated to grow in 2011 by 1.4%, thus reflecting the average of the Euro area ONE OF THE WORLD’S LEADING ECONOMIES

12. Source: Conference Board (2008) Italy’s productivity is higher than European average  Italy is above the European average for overall indicators in terms of quality of the workforce and labour productivity  Italian performance much higher than the EU-27 average  Higher than Sweden and Switzerland, and higher by 20% to Spain’s average HIGH PRODUCTIVITY Czech Rep

13. Italy’s productivity is even higher than other OECD countries  Italian performance much higher than the OECD average  Higher than Japan and United States Source: OECD (2008) HIGH PRODUCTIVITY

14. A flexible labour market  Italy is in the low European average for flexibility of recruitment and dismissal rules  Firing costs are among the lowest in Europe  A contractual diversity suited to the needs of companies’ flexibility Source: World Bank – « Doing Business » (2007) COMPETITIVE COSTS

15. Source: US Department of Labour (2008)  Italian labour costs are among the lowest in Western Europe, with a lower growth in salary increase  among the lower costs per hour in Western Europe for operatives and medium skilled workers,  and also for managing functions (Logistics and Manufacturing)  Italy presents low costs within Western Europe for logistics activities for both skilled and highly skilled resources COMPETITIVE COSTS Italy’s labour costs are among the lowest in Western Europe

16. Source: Apec – Hewitt (2007) Italy’s labour costs for R&D are among the lowest in Western Europe  R&D labour costs are lower - for both Managing and Senior functions - than in other major Western European countries COMPETITIVE COSTS

17. Utility prices in the European average  Electricity & gas: deregulated markets offer opportunities for lower prices  The cost of gas for industrial use in Italy is below the European average, and much lower than in Germany (32% less), or the UK (15% less)  The cost of water is less than those of other major European countries: Germany, United Kingdom, France, Benelux.. COMPETITIVE COSTS

18. TUSCANY’S COMPETITIVE ADVANTAGES

19. A population of over 3.7 million (6,2% of Italy), comparable to Ireland or Finland and greater than various European or American States A modern and vibrant economy with a Tuscan regional GDP over €106bln, larger than the Hungary, Bulgaria or Croatia A regional GDP contributing to 6.7% of Italian GDP and to 7% of Italian export sales TUSCANY: A STRONG ECONOMY Tuscany Source: Italian Bureau of Statistics; Eurostat (2009)

20. Dynamism and diversification of the economy is underpinned by small, medium and multinational companies working in sectors linked to research or high quality and high value added manufacturing MADE IN TUSCANY: A UNIQUE AND VIBRANT INDUSTRY Tuscany has a sound and diversified economic base with strengths in many sectors including: –Advanced Manufacturing, including: Paper Chemicals Pharmaceuticals and medical devices Electronics Transport Industries (boatbuilding, light vehicles, rail…) Food processing –Emerging science-based sectors, including: Software, Telecom Biotechnology –Logistics & Transportation –Energy, including Renewable Energy –Fashion & Design –Real Estate and Tourism

21. A world renowned education system, with 3 Universities (Florence, Pisa and Siena), along with 5 Higher Education Institutes (i.e. Scuola Normale Superiore of Pisa, Scuola Superiore Sant’Anna of Pisa, IMT of Lucca) and many foreign universities (i.e. European University Institute of Florence). More than 21,000 graduates per year with strong competencies in scientific fields: Engineering, ICT, Technology, Electronics, Medicine, Pharmaceutical and Chemistry A 1.6 million workforce, with over 30% of labour force is employed in science & technology sectors Strong competencies in scientific fields OUTSTANDING SCIENTIFIC AND TECHNOLOGICAL SKILLS AND RESOURCES

22. UNIVERSITIES IN TUSCANY AND CENTRES OF EXCELLENCE University of Siena (19,000 students) Faculty of Engineering 7 degree courses, 11 specialization courses Engineering graduates (2008): 189 University of Florence (63.000 students ) Teaching/Research staff : 2,200 Faculty of Engineering 26 degree courses, 21 specialization courses 5,538 students Engineering graduates (2008): 836 University of Pisa (50,000 students) Teaching/research staff: 1,900 Faculty of Engineering 31 degree courses, 9 specialization courses 10,000 students Engineering graduates (2008): 1,426 Scuola Normale Superiore, Pisa 11 Labs and Research Centres Sant’Anna School of Advanced Studies, Pisa - Valdera Hub

23. HIGHER EDUCATION INSTITUTES

24. SOME FOREIGN UNIVERSITIES IN TUSCANY

25. National Research Council Institutes Polo Sant’Anna Valdera TECHNOLOGICAL, RESEARCH & SCIENTIFIC CENTERS

26. Third largest concentration of universities in Italy €542 million - academic research investment – 11% of overall Italian spending More than 10,600 people dedicated to Research in Tuscany, Intensive production of scientific publications, ranking 18 th among European Urban Regions in the number of scientific publications in proportion of the population First-class research facilities dedicated to the development of innovation and technology transfer, science and technology parks and incubators in three main areas: Life Sciences, ICT and Chemistry-Physics Strong University networks and their efficient cooperating model with industries proved by 27 spin offs registered between 2001 and 2007 TUSCANY: R&D Research, Design & Development

27. Why live here One of the most prestigious brand for manufacturing, culture and tourism A preserved environment and a low level of pollution A high level of safety for people and goods An attractive cost of living A temperate climate A good offer for expatriates with 2 international schools, more than 50 foreign universities, and many international cultural associations THE TUSCAN WAY OF LIFE

28. Source: Eurostat; University of Pisa THE TUSCAN WAY OF LIFE RankingRegionScore 1Trentino Alto Adige62 2Toscana57 3Abruzzo54 4Valle d’Aosta54 5Piemonte53 6Lombardia52 7Lazio52 8Umbria51 9Emilia Romagna50 10Liguria50 11Veneto50 12Marche49 13Friuli Venezia Giulia48 14Campania48 15Basilicata47 16Calabria46 17Molise46 18Sardegna45 19Puglia41 20Sicilia38 Tuscany ranks second in Italy for sustainable development

29. HUMAN RESOURCES IN TUSCANY Highly competitive human resource costs Source: Eurostat (NACE DK 29; 10/10 or more employees business) ITALY (FLORENCE)

30. Source: CNEL Tuscany’s labour costs among the lowest in Western Europe and Italy  Employment costs in Tuscany are below the Italian average for industry (in the strict sense - excluding construction)  Labour costs in Tuscany are lower than those of the 12 regions of Central and Northern Italy COMPETITIVE COSTS

31. Source: CNEL Tuscany’s labour costs among the lowest in Western Europe and Italy  Employment costs in Tuscany are below the Italian average for services  and lower than those of the 12 regions of Central and Northern Italy COMPETITIVE COSTS

32. Source : Gabetti (2006) Florence shows lower rental costs than Milan and Rome  Rental costs for offices in Florence are significantly lower than in Milan (20%), and Rome (15%)  Rental costs for industrial facilities in Florence are also notably lower than Milan (20%) and Rome (33%) COMPETITIVE COSTS

33. Source : Gabetti (2008) Florence shows lower rents than Milan and Rome  Rental costs for offices in Florence are 25% lower than Milan and 35% than Rome Rental – Offices (€/sqm/year)

34. FOREIGN COMPANIES

35. 335 foreign companies, active in manufacturing and increasingly in R&D activities, accounting for more than 35,000 jobs in the Region More than 30 new companies have located in Tuscany in the last five years, investing almost $3 billion into the region mostly in the knowledge based sectors of ICT and Biotechnology Driving global excellence from leading industries and blue chip companies operating in Tuscany including: Microsoft, Eli-Lilly, Sun-Microsystems, Novartis, Continental, ArcelorMittal, Saint-Gobain, Boehringer, Solvay, Tioxide, General Electric… They believe in Tuscany FOREIGN COMPANIES

36. Foreign-owned Companies in Tuscany Foreign Investors #260 Companies #335 Employees #35.479 Turnover (mln €)15.170 Source: ICE-Reprint (2009)

37. FOREIGN COMPANIES Source: ICE-Reprint No. Of Foreign companies per Tuscan provinces (2009)

38. Invest in Tuscany is the service of Toscana Promozione dedicated to assist foreign investors wishing to locate their business in Tuscany We support inward investments in order to boost the economic and productive development of the region Invest in Tuscany

39. Invest in Tuscany supports foreign companies willing to locate in Tuscany Our service is free of charge and strictly confidential MS LU PT PO FI AR SI PI LI GR What We Do  Promoting investment opportunities  Scouting and groundwork for potential investors  Establishing of leads  Assisting investors: Assessment Contacts Negotiation  After-care services

40. 40 DESKS Buenos Aires (Argentina) Marcelo T. de Alvear 1119 piso2 C1058AAQ Buenos Aires Tel. +54 11 4816 5900 Email: buenosaires@toscanapromozione.it San Paolo (Brazil) Avenida Ipiranga, 344 - 16° andar - cj 161 - Edifício Itália 01046-926 São Paulo Tel. +55 11 2189-2737 Email: sanpaolo@toscanapromozione.it Abu Dhabi (United Arab Emirates) Bin Arar Tower, Najda Street PO Box: 112358 Abu Dhabi Tel. +971 2 4952783 Email: abudhabi@toscanapromozione.it Mumbai (India) 502, Bengal Chemicals Compound Veer Savarkar Marg Prabhadevi, Mumbai 400025 Tel. +91 22 24368186 extn: 150 Email: mumbai@toscanapromozione.it www.toscanapromozione.it HEADQUARTER Florence (Italy) Via Vittorio Emanuele II, 62/64 50134 Firenze Tel. +39 055 46281 info@investintuscany.com INTERNATIONAL OFFICES Frankfurt (Germany) Friedrich-Ebert-Anlage 58 60325 Frankfurt am Main Tel. +49 69 27390237 Email: frankfurt@toscanapromozione.it Moscow (Russian Federation) Romanov Pereulok n. 4 - 2nd floor 125009 Moscow Tel. +7 495 641 1247 Email: moscow@toscanapromozione.it New York (USA) 55 East 59th Street New York - N.Y. 10022 Tel. +1 212 8916616 Email: newyork@toscanapromozione.it Shanghai (China) Platinum Center Unit 2504 - Tacaing Road 200021 Shanghai Tel. +86 21 63869660-1 Email: shanghai@toscanapromozione.it CONTACT US www.investintuscany.com