The so-called Olomouc City and Olomoucko Micro-Region Strategic Development Plan includes the Economic Growth and Competitiveness as one of its major targets. The city boasts a rich tradition in entrepreneurship of local companies dating back to the late 1800s and early 1900s. Many of these companies still exist and operate in Olomouc. Recently, a number of new enterprises focused on innovation and progressive technologies have been established here. They closely cooperate with R&D centres of the local Palacky University, its Science and Technology Park and several cluster initiatives that have emerged in the city.
Many investors have chosen to invest in Olomouc due to a high quality of living in the historical city with its host of leisure time activities, cultural and sports events, but also outstanding educational institutions, notably the renowned Palacky University, a wide range of secondary schools and the Czech-British elementary school attended (not only) by children of foreign investors.