Medellín is the capital of Antioquia. According to economics and politics, it is Colombia’s second most important city and is also an internationally well-positioned dynamic center for commerce, industry and technology.
Its architecture, urbanism and the continuity given to its social and economic development policies have transformed it into a new city, with competitive infrastructure and with the highest quality of life rates in the country.
Nowadays, Medellín is experiencing a remarkable social and urban transformation has earned it international recognition for its innovation and resilience. The city inspires with its continuous progress, its remarkable economic performance and for being one of the best cities to do business in the region.
The city we know today, has overcome many difficulties and has become fairer and more sustainable, generating trust in the citizen and offering endless possibilities… Medellín is an ideal destination for investment.
Investment in USD
Between 2008 - 2017
Job positions created in the region
Between 2016 - 2017
Investment Projects
Between 2008 - 2017
Textile, Manufacture, Design and Fashion is one of the economic Clusters of the city. Medellín has a long tradition in this business which generates around 30% of the total employment. The city has consolidated as a host of international fashion fairs and events such as Colombiamoda and Colombiatex. The first one closed 2014 with business expectation for USD 308 million; the second closed the same year with business expectation for USD 267 million.
The Construction Cluster of the city is formed by the most important companies of the construction business: CAMACOL, Lonja de Propiedad Raíz de Medellín y Antioquia, Colombian Infrastructure Chamber, among others.
This sector created 6.8% of total employment rate between October and December 2014.
The Energy Cluster belongs to Medellín and Antioquia. It is made up by 1641 companies (from which 1608 are SME) totaling assets for USD 26, 052 million and exports of about USD 138 million in 2013. About this last, 78% belong to electrical power and 22% to computers and devices.
30% of the country’s energy is generated in Antioquia and it administrates 55% of the total amount generated in the country. In this last issue, companies such as EPM (Property of the Mayor of Medellín), ISAGEN, ISA and XM are worthy to be highlighted.
The IT Cluster was created on 2001. It gathers 2780 companies whose main activity is the added value outsourcing, digital production and animation and Smart Cities technologies. The Cluster strategy is a public-private initiative which focuses the institutional support towards the business development through 6 strategic Clusters.
Forty-Five percent of the IT cluster are dedicated to the development of computer-based systems and the other 25% to consultancy activities.
Medellin Health City was created by the Cluster of Medical and Dentistry Services to gather the medical and dental procedures offered by the city. The cluster consists of a network of hospitals and medical centers with more than 2,300 beds, 88 operating rooms, and 1,035 medical specialists and sub specialists. In dentistry services, it has more than 140 specialized dentists.
According to the Cluster of Medical and Dentistry Services, the cost of medical services in Medellín is 20, 30 or even 50 percent lower than in the United States depending on specialty or intervention.
Medellín has 15,486 rooms / 24,125 beds. 5 new hotel projects were projected between 2017 and 2018, adding about +700 rooms to the local offer. In the last eight years, the reception of events such as the Assembly of the Organization of American States (OAS), the Assembly of the Inter-American Development Bank (IDB), UN-Habitat Seventh World Urban Forum, the Assembly of the World Organization of Tourism (UNWTO) and the World Economic Forum, account for the positioning of the city as a center of international events.
The manufacturing sector is one of the most representative of the local economy. Medellín has 6 companies that contribute more than 50% of the national production of appliances, cars, motorcycles and elevators. In 2013, they joined together to create a network for manufacturing products with high technological component; an alliance that seeks to work together for the development and competitiveness of this sector in the city.
Avianca, Colombia’s principal airline, will build an Aeronautical Center for the maintenance, repair and operation of airplanes near the José María Córdova Airport in Rionegro. The company expects to be a source of technical knowledge and quality referent in aeronautical engineering processes in the region.
Aeronautical Cluster: In order to offer local solutions for the aeronautical and aerospace sector, 16 companies joined forces to form the Aeronautical Cluster. The objective is to cover the necessities of the aeronautical industry, both military and civil, in aeronautical, metalworking and ICT issues.
The strategy to attract foreign investment of Medellín shows promising results. Therefore, it is ranked among the top 10 in the FDI American cities of the future 2017/2018 out of 49 cities. A great record for Medellín.
Here, we provide detailed information the investors must bear in mind when establishing their companies in the city.
