Milano Expo 2015 grounds to attract investment, jobs

Expo’s legacy a “human technopole”.

The longstanding plan to regenerate the grounds of Expo Milano 2015 into a “human technopole” should create some 6,700 jobs over the first four years and attract almost €7 billion investment in the first 10 years. Added value of the grounds’ real estate should raise another €3.2 bn, and the state should gain €1.3 bn in revenue.

This estimate was announced by former labour minister and chief OECD statistician Enrico Giovannini, presenting a study elaborated by Arexpo, the holding company owning the grounds, and prestigious economic think-tank Studio Ambrosetti.

The plan is to relocate into the former exposition area one of the city’s hospitals, Milan State University and a “human technopole” of research and development companies attracted by Milan’s advanced digital vocation and efficient public transport infrastructure, as well as the ease of access to the grounds both from the city centre and from air, rail and motorway networks.

While central government in Rome has promised a €50 million cash injection towards refurbishing the grounds in the Milan suburb of Rho, investors are already beginning to sign contracts for participation in the scheme.

Now, for the first time, an estimate of the economic advantages for Milan has been drawn up, confirming the optimism displayed by then mayor Giuliano Pisapia as the turnstiles to Expo Milano fell silent in October 2015.

The study results were announced last weekend at the 28th European House-Ambrosetti economic workshop at Cernobbio, for the fourth consecutive year voted to first place in Italy and among the top 10 in Europe out of over 6,800 worldwide surveyed by the University of Pennsylvania.