City Investment and Partnership Opportunities: Thessaloniki, Greece

Local Economic Development

Thessaloniki seeks to develop an Integrated Market Redevelopment Strategy for the traditional Kapani market by introducing new decision-making models (i.e. Business Improvement District-BID) and incentives to support traditional SMEs while upgrading urban infrastructure. Recent years have demonstrated a resurgence in interest and renewed appreciation for public markets — which contribute to urban revitalization and play a central role in community life. The Kapani Agora is the oldest open market in the city; in 2016, local business owners launched a new brand identity and visual logo for Kapani, created through inclusive design processes with local partners. The market has potential to lead the regeneration of other historic markets, and contribute to the wider regeneration of the city centre. Establishing a BID and developing an Integrated Market Redevelopment Strategy for the area will be a pilot for replication in other commercial districts.

Investment/Partnership Opportunity: The initiative is currently in feasibility study, and requires support for the establishment of the BIDs. The next phase will require a tiered investment strategy for the refurbishment and for support of the SMEs.

Circular Economy

Thessaloniki is creating the first Upcycling Centre and Educational Centre in the City in collaboration with social businesses and civil society. This is part of a larger, more sustainable waste management system in which product loops and materials chains are closed, and new economic models are developed. Adopting a circular economy approach at the city level requires a workforce with specific skills in redesigning products and services and upcycling used materials extracted from these products. Adopting this approach will also allow the City to create new business and employment opportunities.

Investment/Partnership Opportunity: The initiative is currently in project design phase. Needed is assistance from the Economic Initiatives for Social Businesses, as well as funding for the site development.

Safe and Green Schools

Thessaloniki is creating an investment program for energy and earthquake retrofitting of the City’s school building stock. Thessaloniki’s great earthquake of 20 June 1978 caused 50 deaths, 220 injuries, and left thousands more homeless. Direct physical damage cost €1.2 billion. Protecting and strengthening the City’s buildings and critical infrastructure such as school is essential to its resilience. In collaboration with other Municipalities and stakeholders, the Municipality of Thessaloniki will conduct a portfolio analysis of the vulnerability of its school buildings.

Investment/Partnership Opportunity: The initiative is currently in risk assessment phase (feasibility study), and requires funding for the investment program’s implementation.

Contact: resiliencethessaloniki@gmail.com