LThe President of the Republic had, as early as 2017, bet on a revival of France’s economic activity. As no country is economically strong without a strong industry and a strong technology sector – France had neither – Emmanuel Macron tried to revive our industry, alongside his ambitions for the “start-up nation”. What conclusions can we draw from these seven years?
The share of non-energy manufacturing in French gross domestic product (GDP) has not really changed since 2017. It has stabilized at around 11%, according to OECD figures. This is low, but it is actually good news, because this figure marks the end of the decline of industry in our economy. Before growth, we must go through a moment when the decline stops. Here we are.
Employment confirms this trend. Industry gained 130,000 jobs between 2017 and 2023, according to INSEE. The number of factories in our territory is also increasing. According to the economic research firm Trendeo, France lost 700 industrial sites between 2009 and 2016, but gained 316 between 2017 and 2023. Symbolizing this renaissance, four battery “gigafactories” have been created or are under construction in Hauts-de-France.
In short, France has finished its cycle of deindustrialization and is hopefully beginning a new cycle of reindustrialization.
There is no miracle here. The President has launched multiple initiatives. The France Relance and France 2030 plans, whose resources amount to tens of billions of euros, have both placed industry at the heart of their objectives. The State has equipped itself with a tool created in 2012 under the Hollande era, the Public Investment Bank (BPI). There is no longer a factory seeking to be born, grow or transform itself whose file does not pass through the BPI’s desks.
On the legislative level, the Green Industry Act was passed in October 2023 without much debate in the National Assembly, which demonstrates the consensual nature of this policy in favor of industry. Production taxes have decreased. They are still well above the European Union average, but the momentum is going in the right direction. Finally, all public stakeholders have started working to restore a positive image of industry. Everyone, especially local elected officials, wants more industry on our soil. That’s the good news. There is less glorious news.
New social pact
Factories in great difficulty are unfortunately still flourishing in the territory: Duralex, MetEx, Ascometal to name but a few. Because the conditions for a massive return of industry to France are not met. And the subjects that cause irritation are numerous and structural: the cost of energy, the tsunami of French and European standards, the absence of private financing in capital…
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