Hispanic Enterprise - February/March 2008 - (Page 23)

Madrid Business Resources further cements Spain-based companies as competitors in the global market, and makes it attractive to those looking at growing companies. Spanish companies are hoping the strong link to Latin America enjoyed by Madrid companies would make the city a greater pull for investors than a French or German company. In the past year, Spain’s strong growth has bested Germany, the United Kingdom, the Eurozone, not to mention the United States. It also boasts the eighth largest gross domestic product (GDP) in the world, growing by 4 percent in 2006. And it’s a country easily traveled for Madrid residents, as the country’s transportation infrastructure converges in the city. Madrid boasts the largest concentration of businesses in the country and 72 percent of Spain’s 2,000 major companies are based there, according to madridEmpresa, a business development organization. In terms of big business, the agency reports that 27 of the 35 companies listed on the IBEX, Spain’s Stock Market Index, headquarter in or around the city, as do seven of the nine Spanish companies listed in the Fortune 500. The city is also popular with small business owners as 27,500 new small- to medium-sized companies launched in 2006. Madrid has also instituted some favorable new business conditions as part of its push. For a cosmopolitan European city, the cost of doing business is relatively low. In terms of other large international destinations, the labor costs are low, at approximately $11-12 per hour. This is bested only by Athens, Lisbon and Moscow, according to Price and Earnings. The corporate tax rate has been lowered to 30 percent, and small- and HISPANIC ENTERPRISE Interested in learning about the city’s economic and investment opportunities? These organizations have a wealth of information about the resources available to business investors, new business owners and more. Cámara de Comercio de Madrid Madrid Chamber of Commerce C/ Ribera del Loira, 56-58 28042 Madrid (+34) 91 538 35 00 www.camaramadrid.es Centro de Iniciativas Emprendedoras (Ciade) - Business Initiative Centre Ciudad Universitaria de Cantoblanco Ctra. de Colmenar Km. 15 28049 Madrid (+34) 91 497 34 51 E-mail: ciade@uam.es www.ciade.org IFEMA: Feria de Madrid (+34) 902 22 15 15 E-mail: infoifema@ifema.es www.ifema.es Instituto Madrileño de Desarrollo (Imade) - Regional Development Institute C/ José Abascal, 57 28003 Madrid (+34) 91 399 74 00 www.madrid.org Madri+d C/ Velázquez, 76 28001 Madrid (+34) 91 781 65 70 E-mail: fundacion@madridmasd.org www.madrimasd.org madridEmprende Economic Development agency Bailén, 41. Ground Floor 28005 Madrid (+34) 91 480 32 81 / 82 / 83 E-mail: madridemprende@munimadrid. es www.esmadrid.com/madridemprende PromoMadrid Madrid’s International Development Agency www.promomadrid.com The United States Commercial Service in Madrid Paseo de la Castellana 52 28046 Madrid +34 915 648 976 www.buyusa.gov/spain February/March 2008 23 http://www.camaramadrid.es http://www.madrimasd.org http://Ctra.de http://www.ciade.org http://www.esmadrid.com/madridemprende http://www.ifema.es http://www.promomadrid.com http://www.madrid.org http://www.buyusa.gov/spain

Table of Contents Feed for the Digital Edition of Hispanic Enterprise - February/March 2008

Hispanic Enterprise - February/March 2008 Contents Briefcase: BIZBUZZ: Business Briefs Briefcase: Trendsetters Briefcase: BIZTECH: Virtually Meeting BizLife: Travel: Madrid's New Attraction Q & A: Mi Case es su Casa Hispanic Commerce: The Agenda Cover Story: The Top 50 Corporations for Supplier Diversity Technology: Hispanic Web 2.0 Success & Motivation: Sweetening the Deal Politics & Government: The Rescue Generation Managing: The Method Franchising: The Hispanic Face of Franchising Chamber Focus: It's Showtime Movers & Shakers: Open for Business Finance & Investing: Getting Your 401(K) on Target

Hispanic Enterprise - February/March 2008

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