Our Economic Districts policy fosters growth by clustering and incentivising key industries in carefully-chosen districts.
The different projects under the Economic Districts policy complement and offer an alternative stimulus to existing social and economic programmes mainly in southern Buenos Aires. The project has a secondary objective of reviving less industrialised areas and making them more competitive, attractive to industry and more inclusive of local communities and workers.
Each district development programme incorporates the following elements:
Tax Incentives: Economic incentives and tools to promote and drive competitiveness in the districts.
Infrastructure: Major public works programmes to redress inequalities in infrastructure and transport connectivity.
Public Spaces: The recovery of public areas as community spaces for recreation and socialisation.
Social Capital: Strong involvement in and consensus for the project amongst local businesses, civil society, educational institutions and other community stakeholders.
Urban Complexity: Extending value to urban areas where there is considerable diversity in industrial activity.
Key features of each district are explained below.
Home to more than 190 technology companies and generating over 11,000 new jobs, this district is the most advanced of the six (planning permission was granted in 2008). When completed, it is expected that over ARS $1.7 billion will have been invested, helping to create over 30,000 jobs linked to technology in a low-income area in the southern neighbourhood of Parque Patricios. Companies located in the district include multinationals TATA Consultancy Services, Telefónica, BANGHO and NEC, and homegrown e-commerce or media giants such as Despegar.com or Compañia de Medios Digitales (Grupo Clarín). You can find a map of businesses in the district here at this link.
Land value has increased with the changing urban landscape, and residents and workers benefit from a newly installed Metropolitan Police station, mounted security cameras and LED street lighting, extensively recovered parks and public areas, and improved transport connections through an expanded subway network. When fully completed, the subte network will significantly cut journey times to the centre for 300,000 commuters.
In March 2015, the City Govermnent moved its headquarters to the district. The new City Hall was designed by architect Norman Foster and incorporates a number of important sustainability features.
Planning permission for the development of the district in the Barracas neighbourhood was given in December 2013. The Metropolitan Design Centre (CMD), an enormous renovated fish market, was inaugurated some years earlier in 2010, and marks the heart of the district. It houses classrooms and laboratories, City Government design and fashion offices, and offers up industrial space for emerging designers and companies. It runs a range of workshops and seminars, public conferences, trade shows, open government events such as hackathons, and other activities centred around design and innovation.
Created in 2011, this district is a hub for the advertising, film, television production and video games industries. Currently it has over 175 companies receiving financial support and has created upwards of 50,000 jobs.
It is also home to the eye-catching Centro Dorrego, a converted warehouse which puts on conferences and seminars, trade fairs and audiovisual productions. It spreads across a number of northern neighbourhoods: Palermo Hollywood, Villa Crespo, Colegiales, Chacarita, Villa Ortúzar and La Paternal.
Expected to result in revenues of over ARS $16.2 billion, the Arts District will house over 180 art establishments in the low-income neighbourhoods of La Boca, San Telmo and Barracas. The neighbourhoods are the oldest in the city and have a tradition of attracting artists and musicians. All forms of visual arts will be supported and promoted, from sculpture and photography, to puppetry and performance art.
On top of the Usina del Arte, a handsomely restored former electrics factory (now an arts and music centre), 20 new cultural centres will be installed, plus a further 10 hotels and 200 restaurants, generating around 25,000 new jobs.
Currently in its preliminary planning phase, this district expects to house sports clubs, sportswear and fitness companies, as well as the Olympic Park and a number of Olympic venues for the Youth Olympics 2018, and is designed around the large Parque Roca in the south-west of the city. It will be serviced by a new long-distance bus terminal which will greatly improve accessibility to and from the district.