The article “Shaping the local business structure: drivers of firm location at the municipal level” by Fausto Pacicco (Researcher), Andrea Venegoni (Associate Professor LIUC), and Massimiliano Serati (Associate Professor LIUC), analyzes in detail the factors influencing firms’ decisions to settle in specific areas, focusing on the municipalities of Lombardy. Through a combination of sophisticated econometric models, the authors examined a vast number of socioeconomic indicators collected between 2005 and 2019. The novelty of this study lies in its depth and the variety of data used, surpassing previous analyses that often limited themselves to the regional or national level.
The results indicate that the main factors attracting businesses are the presence of infrastructure, taxation, labor market conditions, and the availability of highly skilled workers. These elements provide policymakers with concrete tools to promote local economic development, adapting strategies to the specifics of each municipality. Additionally, the approach employed allows for the consideration of inter-municipal connections, ensuring a more comprehensive and accurate view of territorial dynamics.
The study represents a significant contribution to the economic literature, proposing an advanced and detailed methodology that can be applied to improve local development policies and stimulate economic growth at the municipal level.
