Iceland review - 2015, Page 110

108 ICELAND REVIEW
Innovating Investments
Reykjavík is a burgeoning development opportunity
for investors in science, technology and tourism,
and innovators who like to stay ahead.
IDEAL FOR INVESTMENT
Colorful and coastal Reykjavík lies on a penin-
sula in Southwest Iceland. Flanked by the North
Atlantic Ocean and a series of mountains, it
boasts an impressive number of assets to attract
foreign investors.
When it comes to corporate tax, compared
to other Nordic capitals, Reykjavík comes in
second, just 4.3 percent above Copenhagen
(as PricewaterhouseCoopers concluded in its
analysis Northern Lights – The Nordic Cities of
Opportunity). For those seeking to set up shop, it
also comes second in terms of ease of starting a
business, making it appealing for those who want
to roll up their sleeves and forge ahead rather
than be bogged down by bureaucracy. And per-
haps a factor that frees up more of the business
day and makes Reykjavík a stress-free prospect
is that the average commute is—wait for it—only
11.6 minutes.
COLLABORATIVE SPIRIT
One area ripe for development and growth is
Reykjavík Science City, a collaboration between
the City of Reykjavík and universities, industry
and innovators. Centrally located in Vatnsmýri, the
science center is a stroll away from downtown,
yet remains close to nature. Initially a wetland, and
still home to birds, it’s a flat, green park with pan-
oramic views to the mountains Esja and Bláfjöll
and borders on the Atlantic Ocean and Öskjuhlíð
Park. Reykjavík Domestic Airport is also here, pro-
viding short flights to the rest of Iceland, the Faroe
Islands and further afield to Greenland.
DEVELOPING PARTNERSHIPS
The Science City’s academic residents consist
of the University of Iceland, Landspítali National
University Hospital of Reykjavík and Reykjavík
University. Óli Örn Eríksson, head of economic
Óli Örn Eiríksson,
Head of Economic Development,
City of Reykjavik.
SPECIAL PROMOTION
SPECIAL PROMOTION