Finnmark – where dreams become reality

The economy of Finnmark

The economy of Finnmark grows about just as much as in the country as a whole. As a result of this growth there is a lack of workers, notably in the building industry. Problems are biggest in the western part of the county.

Finnmark is a big exporter of sea food, minerals and LNG gas. The value of all export seen under one was according to figures given by The Confederation of Norwegian Enterprise (NHO) of Finnmark 18 milliards of Norwegian crowns in 2010. Such figures put Finnmark at the first place in added value pr. county inhabitant.

Finnmark is geographically situated close to rich energy resources while prospecting activities for oil and gas in the Barents Sea are being stepped up. Local economic entrepreneurs and scores of subcontractors are involved in this. At the same time work goes on with the development and production of wind and water based power stations. An own company was recently founded with the purpose to build and operate wind and water based power stations in Finnmark in cooperation with local power producing companies and Finnmark Estate Agency which is owner of the ground.

Reindeer husbandry is intrinsic to Sámi  culture and identity. In Finnmark more than 2.000 persons are somehow associated with reindeer husbandry. A number that has been stable for a while, although the number of units as well as the number of reindeer has decreased.
Finnmark is one of the most tantalizing destinations in Europe. After many years with a big flow of tourists during the summer season, winter tourism has increased after a lot of efforts were made by the tourism industry.

But also the competence industry, consisting of many different types of economic activity, is on the increase in Finnmark. Firms busy with this are different from other types of economic activities as their main input factors are not dependent on raw materials, energy, machines or equipment. In such competence based firms the main input factor is competence as such.