The region is perfect for environmentally concerned industries requiring renewable energy at internationally competitive prices, in particular if both heat and electricity is required in the manufacturing process. Data centres are welcomed along with various material processing industries, such as metal alloying or carbon fibre production. New technologies in agriculture and in particular in the ocean (aquaculture) are of huge interest. Various sustainable biofuel and biomass or synthetic fuel production could also be ideal.

In short, we need sustainable production in the circular economy we all want and need to live in.

With increased tourism and opening up of new sea routes when Arctic ice melts, both passenger and cargo transport is expected to become more intense in the region and an important hub for Arctic services half way between mainland Europe and North-America.

The hospital in Akureyri serves a large area and provides services outside the region, primarily Greenland, with staff that have in some cases received their education at the University of Akureyri.