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Project code: A72494
Project name: 64 North Portfolio
Policy: 1. Competitiveness of SMEs
Specific objective: 1.1. Creating new business activities
Planned completion time: Start 1.1.2017 and end 28.2.2019
Operational status: Ended
Responsible authority: Regional Council of Kainuu
Official name of the applicant: KAINUUN ETU OY
Organisation type: Other legal person governed by public law
Business ID: 0784050-4
Street: PL10
Telephone number: 0445514554
Postal code: 87100
City/town: Kajaani
Website: http://www.kainuunetu.fi
Project contact person's name: HEIKKINEN KAROLIINA MARJUKKA
Contact person's position in the organisation: Business Development Officer
Contact person’s email address: karoliina.heikkinen(at)kainuunetu.fi
Contact person's phone number: 0445514611
Number of applicants or subsidy transfer:
Capital inflows have seen challenging times across the whole of Finland since 2008 (see appendix "Suomeen tehtyjen investointien aktiivisuus 2006-2015") and Kainuu region has seen FDI activity in other sectors. The tourism real estate sector whilst seeing some fragmented investment has not delivered a coordinated and clear portfolio of bankable investment propositions around the regional tourism hotspots. Given current market conditions investors are becoming more active, due to low interest rates, currency fluctuations and geopolitical changes. Previous FDI activities in region have evidenced that investors are not able to make decisions to investigate potential propositions without material that substantiates bank-ability of a case. Equally it is essential to utilise reference cases in the process of investor attraction. This project will establish a regional template for bankable investment targets and develop a portfolio of tourism real estate offerings, to include bankable financial data based upon reference cases and where appropriate operator and developer related material. The first phase will be focused on Vuokatti (where reference cases exist).
To achieve investor engagement, the following marketing activities will be delivered throughout the project:
- Engagement of "close to market" client principles who are currently involved with Investor due diligence processes
- Development of portfolio as short, medium and long term exit options, cautious, balanced and speculative options and case size dependent grading
- In market investor presentations, on-site investor visits and combination of internet and social media marketing
- The existing CRM and connection networks of the Invest in Kainuu model will be exploited as will the award winning processes (best practices) and to market strategy developed since 2010 that has yielded results in other sectors.
- Provide information to national investment promotion organisations when requested
Targeted results of this project are as follows:
1. The production and visibility of a dynamic growth portfolio representing the most bankable tourism cases from the Kainuu region (supporting the overall attractiveness of the region of Kainuu)
2. The realization through the subsequent negotiation of the stakeholder with investors of at least one of the target cases
3. The stimulation of construction employment, tourism operations employment and capacity/revenue increase and the positive impact upon direct and indirect local taxation
Hankkeen kohderyhmänä ovat Kainuun kunnat sekä yhden Kainuun päätoimialan, matkailun, toimijat, jotka etsivät sijoittajia investointikohteilleen. Nämä toimijat ovat pk-yrityksiä, jotka haluavat kehittää Kainuuta matkailumaakuntana ja stimuloida työllisyyttä ja palveluntuotantoa alueella. Näiden kohteiden investointimahdollisuuksista rakennetaan kattavat sijoittajamuistiot, jotka kohdennetaan oikeankaltaisille sijoittajille. Pääsijoittajamarkkinat hankkeelle sijoittuvat Kiinaan ja Lähi-Itään (linjassa Finnairin ja Visit Finlandin kanssa), Keski-Eurooppaan ja UK:iin.
Välillisiksi kohderyhmiksi nähdään ne toimijat, jotka ovat investointien vaikutusalueella. Nämä toimijat ovat palveluntarjoajia matkailualalla ja rakennusalalla. Myös peruspalveluiden tarjoajat kunnissa ovat investointien vaikutusalueella ja näin ollen heidät lasketaan välilliseksi kohderyhmäksi.
EU and State funding granted: 277 083
EU and State funding used: 270 303
Planned public funding (total): 336 809
Planned public funding used (total): 339 112
Regions: Kainuu
Subregions: Kajaani, Kehys-Kainuu
Municipalities: Ristijärvi, Paltamo, Suomussalmi, Puolanka, Kajaani, Sotkamo, Hyrynsalmi, Kuhmo
Street: Seminaarinkatu 2
Postal code: 87100
City/town: Kajaani
Planned: 30, in which women are employed 15
Completed according to monitoring information: 4.00, in which women are employed 3.00
Planned: 5, which are founded by women 1
Completed according to monitoring information: 0.00, which are founded by women 0.00
| Direct | Indirect | |
| Luonnonvarojen käytön kestävyys | 5 | 3 |
| Luonnonvarojen kestävyys ja prosessit tullaan huomioimaan rakentamiseen liittyvissä asiosisa | ||
| Ilmastonmuutoksen aiheuttamien riskien vähentäminen | 4 | 4 |
| Mahdollisuuksien mukaan elektronista aineistoa suositaan | ||
| Kasvillisuus, eliöt ja luonnon monimuotoisuus | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen | ||
| Pinta- ja pohjavedet, maaperä sekä ilma (ja kasvihuonekaasujen väheneminen) | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen | ||
| Natura 2000 -ohjelman kohteet | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen | ||
| Materiaalit ja jätteet | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen | ||
| Uusiutuvien energialähteiden käyttö | 6 | 6 |
| Yksi avainelementeistä tässä hankkeessa rakentuu kestävän rakentamisen ympärille, hyödyntäen paikallisesti tuotettuja materiaaleja. | ||
| Paikallisen elinkeinorakenteen kestävä kehittäminen | 10 | 10 |
| Hankkeella on merkitystä koko Kainuun elinkeinoelämään investoinneilla mahdollistetun uuden liiketoiminnan luomisen avulla. | ||
| Aineettomien tuotteiden ja palvelujen kehittäminen | 3 | 3 |
| Hankkeen aikana kehitetään paikallista osaamista ja tuntemusta liiketoimintamallien ja investointikohteiden valmistelussa. | ||
| Liikkuminen ja logistiikka | 5 | 5 |
| Tarkoituksena on saavuttaa lisää kapasitettia ja herättää tarvetta, jolla parannetaan kaupallista kestävyyttä liikkumiseen ja logistiikkaan alueella | ||
| Hyvinvoinnin edistäminen | 6 | 6 |
| Hankkeessa pyritään luomaan hyvinvoivaa Kainuuta elinkeinoelämän kehittämisen avulla. | ||
| Tasa-arvon edistäminen | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen | ||
| Yhteiskunnallinen ja kulttuurinen yhdenvertaisuus | 4 | 4 |
| Koska puhutaan ulkomaisista investoinneista, hanke tuo uusia kulttuuritapoja alueelle, mikä lisää eri liiketoimintakulttuurien yhdenvertaisuutta | ||
| Kulttuuriympäristö | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen | ||
| Ympäristöosaaminen | 0 | 0 |
| Ei suoraa vaikutusta hankkeeseen |
The main objective of the project was to activate construction investments into the key tourism locations of Kainuu, by building a portfolio of the most bankable and investment ready targets. The area of Vuokatti was identified as the most substantial tourism area and the most potent area to increase employment with the potential construction investments and their multiplier effects.
The second main objective of the project was to maintain the visibility of Invest in Kainuu -service so that the investment opportunities have on-going visibility towards international investors of differing profiles. The result of this visibility was to guarantee that Kainuu is active in investment processes and can respond effectively to investor enquiries.
The more specified objectives of the project were divided into four main parts, which were the construction investment activation in Vuokatti area by building a portfolio of the most bankable targets, conduct an early stage marketing activities for targets offered by Kainuu municipalities, market these targets, and arrange investor visits and maintain the visibility of the cross sectoral investment attraction service.
12 investment targets offered by Kainuu municipalities and companies were identified during the project. These targets were prepared to the pre-feasibility level and they were compiled into a regional portfolio. The prepared targets were taken into investor markets via project’s marketing channels and with close cooperation with Invest in Finland.
As a direct result of project’s marketing and awareness growth activities in total of 26 investor visits were conducted into the 12 investment targets. Three of these visits have led to investor engagements and negotiations and their investment plans will realise jointly between the investor and the case owners post-project. In addition, as a result of the project activities, different financing tools are available for local SMEs and investors after the project. Subsequently 4 new companies has been formed in Kainuu as SPV’s for the purpose of construct, investment and operations.
The success rate of the project was prolific and the invest in process at the tourism industry created by the project has now been recognised and replicated at national level by Business Finland (Invest in Finland and the Client Principal). Kainuu region has created a solution to carry out innovative investment attraction activities that has been recognised and expanded nationally, whilst identifying some key competitive advantages of rural areas in the tourism and wood construction segments that should be further exploited.