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The Raahe region comprises Raahe, Siikajoki and Pyhäjoki, with a total population of 32,000, offering a unique combination of coastal city life and rural tranquillity. This vibrant region is home to around 2,000 businesses and service providers on the shores of the Bothnian Bay, an hour south of Oulu.
Momentum – powerful forces in motion
Massive investments in the energy and industrial sectors are boosting construction and the commercial sector, creating new businesses and jobs, and increasing demand for services and housing in the Raahe region. As a new NATO member, the Finnish government has also recognized the importance of Northern Finland in terms of trade and security of supply, for example, and has launched a program to map the infrastructure.
Stability makes investing safe
Finland is one of the world's most reliable investment environments. A strong democracy and the Nordic welfare model guarantee predictable and fair services in society for both individuals and businesses. Finns are considered honest, straightforward, and solution-oriented, which is also reflected in the business culture of Raahe Region.
Experience in major projects
New investors benefit from the fact that the Raahe Region has extensive experience with large investment projects in a variety of sectors. Local officials offer strong support in navigating the regulatory framework and provide the necessary connections to ensure the smooth progress of investment projects of all sizes.
Location is everything
In addition to its logistical advantages and work connections, Raahe Region offers good education and study opportunities, an attractive living environment, cooperation networks, and a wide range of services for businesses. Thanks to the compact size of the region, distances are shorter, relationships are easier to build, and goals are achieved faster.
A strong pioneer
Investments in the green transition in the Raahe Region are key to achieving Finland's carbon neutrality goal by 2035. SSAB, the largest steel producer in the Nordic countries, is converting its Raahe plant to a hydrogen-based process for producing fossil-free steel. The metal industry has been the region's flagship industry in recent decades, with the wood and food industries being newer entrants.
Raahe Region has a long industrial tradition in steel production. The region is one of Finland's leading areas in renewable energy production, and environmentally friendly electricity is already being produced in the region at a capacity of 950 MW. The region a key player in the world's happiest country's efforts towards a more sustainable future.
The magnificent nature and rare gems, such as the coast and archipelago as well as Old Raahe, are the region's tourist attractions. Raahe Region is part of the Pohjola Route, and major steps are being taken to develop tourism.
In terms of distance, Raahe Region is easy to reach, as the E8 motorway takes you to Oulunsalo Airport in an hour and to the Raahe railway station in Vihanti in less than half that time via the E88 main road. In addition to smooth road traffic, the needs of businesses are served by the Port of Raahe, which is also connected by an electrified railway line. The port has made significant investments in even larger project transports and is one of the busiest ports in Finland.
Green transition
The €5–10 billion green transition investments planned for the Raahe Region refer to wind and solar energy parks and the conversion of SSAB's Raahe steelworks to fossil-free steel production. The region already accounts for over 14% of Finland's wind power capacity (2024), and capacity is expected to grow by 600% over the next ten years.
Many opportunities
In addition to the metal industry, circular economy, nuclear energy and green hydrogen, the region offers a wide range of investment opportunities in many sectors. A new commercial city centre, a maritime residential area, the Port of Raahe, a multi-purpose facility in the centre of Pyhäjoki and tourist attractions in the city of Raahe are currently looking for project partners.
Attraction factors
Besides to its exceptional metal expertise, Raahe Region is proud of its commitment to the circular economy and environmentally friendly industry. The region is one of Finland's leading producers of wind power, and growth continues. There is huge demand for clean energy, as expectations for the hydrogen economy are very high in the region. The modernization of SSAB's Raahe steel mill, which is striving for fossil-free steel production, is a significant investment in the region.
The region's logistics support businesses
Raahe Region is located on the coast of Northern Ostrobothnia and, together with the Oulu region, forms a strong industrial base for critical industries such as pulp and paper mills, steel mills, and a strong clean energy hub. The coastal area is home to 50,000 people and around 3,000 companies. SSAB's steel mill forms a significant industrial complex in Raahe, together with support infrastructure, subcontractors, and logistics centers. Oulu International Airport is about a 45-minute drive away. There are more than 400 design, construction, maintenance, and logistics companies in the area. The Port of Raahe is one of Finland's largest ports, and the national E8 road network also runs through the area.
Green hydrogen
One of the key objectives of Finland's sustainable growth program is to make Finland a world leader in hydrogen and the circular economy. The City of Raahe has been involved in three major flagship projects involving close cooperation at the local, national, and international levels. Studies have shown that Raahe has good conditions for hydrogen production and storage in terms of location, conditions, and demand.
The National Hydrogen Network project brought together companies, research institutes, investors, cities, and municipalities interested in the hydrogen sector to share information and expertise. The project also created the BotH2nia brand, which gives visibility to flagship projects in the Baltic Sea region in Europe. You can join the hydrogen network on the BotH2nia website.
R4H2 - REACTions for Hydrogen built a hydrogen ecosystem network in Northern Ostrobothnia and mapped business opportunities in different areas of the hydrogen economy. In addition, the knowledge, research, and training needs related to the transition to a hydrogen economy were identified.
BotH2nia Hydrogen Valley brings together hydrogen development on the west coast of Finland by focusing on key pain points related to, for example, hydrogen transport, safety, market platforms, and the development and testing of business models. With a total investment of nearly €10 billion, BotH2nia Hydrogen Valley is expected to be one of Europe's leading hydrogen regions by 2030. In addition, the valley is closely linked to other hydrogen valleys through partnerships with Swedish, Estonian, Dutch, French, German, Portuguese, and Chilean partners.
Expertise, strong education and jobs
The Brahe Education Centre, which operates in the area, offers high-quality education services to young people and adult students as well as to businesses and industry players in a number of different fields. There are over a hundred different degrees to choose from in the fields of technology, services, creative industries and natural resources. There are approximately 2,000 students in total. The training centre works closely with employers.
Brahe Education Centre has also lead the way in developing a multi-campus model that has attracted nationwide interest, involving cooperation with several universities of applied sciences. Kajaani University of Applied Sciences organises studies in Raahe leading to a bachelor's degree for game industry professionals, nurses and engineers in mechanical engineering, civil engineering and information and communication technology.
The University of Oulu campus is less than an hour's drive away. It is one of Finland's largest universities, with approximately 15,000 students and around 3,400 degrees awarded each year. The university offers more than 20 degree programmes in various faculties: engineering, natural sciences, information and electrical engineering, business school, biochemistry and molecular medicine, humanities, education and medicine. The university has been particularly involved in product development in the metal industry and research in the hydrogen sector in the region.
Industry employs the most people in the Raahe region
There are approximately 8,500 jobs in the region, of which industry employs nearly 3,500 people. The second largest employer is the health and social services sector, with around 2,000 jobs. Wholesale and retail trade and construction each employ around 1,000 people.
Job self-sufficiency in the Raahe region has been over 100% throughout the 2000s, reaching a peak of nearly 120% in Raahe. Around 2,400 commuters from the neighbouring areas of Oulu, Liminka, Kalajoki and other localities work in the Raahe region, while 1,500 people from the region work elsewhere.
In terms of the number of establishments, the largest industries in the Raahe region are, in order, agriculture, wholesale and retail trade, and construction. The total turnover of these establishments was approximately €1.7 billion in 2020. In terms of added value, the metal industry is by far the largest sector.
