The economic impact of the Turku shipyard and its extensive network of partners clearly extends beyond Southwest Finland and continues to grow.
A recent study commissioned by the City of Turku and Meyer Turku Oy from the University of Turku – the fourth of its kind – confirms this trend: the shipyard is an increasingly significant employer and a driving force behind economic activity in Finland.
Meyer Turku Oy’s turnover has roughly doubled since 2021, and its impact on economic vitality is widely evident across the business network. The growth in the value of the shipyard’s deliveries and its impact on employment is consistent with previous studies (from 2017, 2019 and 2022). The shipyard’s own workforce has grown to 2,400 (an increase of around 30% since 2021), and the total employment impact in Finland has risen to over 10,000 (in 2021: 8,583).
A recent analysis shows that the shipyard’s operations boost employment, increase tax revenue and strengthen business activity throughout Finland. These impacts arise primarily through extensive supply chains and partnerships. The Turku shipyard, together with its network of suppliers, is a key part of the economy of both Southwest Finland and the country as a whole.
– The Turku shipyard is one of Finland’s most significant industrial players, and its growing impact is clearly visible in employment, business networks and tax revenue across the country. The City of Turku views the shipyard and the maritime industry ecosystem as a key part of the city’s long-term growth and competitiveness, and will continue to actively collaborate to strengthen expertise, investmentand development, says Turku’s Chief of Staff Tuomas Heikkinen.
Supply chains have far-reaching impacts across the country and internationally
A broad and diverse network of suppliers has developed around the Turku shipyard. In 2025, more than 1,100 supplier companies were linked to the shipyard, of which 755 were domestic and 391 foreign.
Domestic deliveries accounted for around 70 per cent (around 60 per cent in 2021), which highlights the shipyard’s significance specifically for the Finnish economy. The greatest domestic impact is felt in Southwest Finland and Uusimaa, but the effects are felt widely across the country.
The largest foreign supplier countries are Poland and Germany. The scale of the operations is illustrated by the total value of deliveries, which rose to approximately €1.45 billion in 2025.
The impacts of the supplier network extend beyond direct industrial activity to society at large. Demand is generated around the shipyard for housing, education, transport and various services, among other things, which also indirectly strengthens the vitality of the regions.
– The shipyard has experienced strong growth in terms of both turnover and workforce numbers. At the same time, the role of domestic suppliers has grown, and the value of their deliveries already exceeds one billion euros. The shipyard’s direct and indirect employment impacts have risen to well over 10,000 people, which highlights its key role in the business sector. The impacts are greatest in Southwest Finland, but extend across the whole country through an extensive business network, according to Mikko Grönlund, Research Manager at the University of Turku, and Tuomas Ranti, Research Coordinator.
Southwest Finland at the heart – impacts across the country
The shipyard’s supplier network includes companies from over a hundred municipalities across Finland, and supplies are sourced from dozens of countries. This illustrates the extent of the impact both nationally and internationally.
– The significance of the Turku shipyard for Finland stems from the network built around it. The majority of the cruise ship’s value is generated by the work of our partners. Since the previous study, the shipyard’s turnover has doubled and employment has increased by around 2,000 people. The domestic content has risen from 60 per cent to over 70 per cent and will continue to rise as we transfer more production to Finland. The company’s €200 million investment strengthens competitiveness and determines how much of this value will remain in Finland in the future, says Meyer Turku’s CEO Casimir Lindholm.
– The shipyard’s impact extends across Finland. There are companies in 103 municipalities that supply the shipyard directly. The international reach is also significant: supplies come from 32 different countries, says Tapio Karvonen, Account Manager for the Blue Economy and Maritime Industry at Business Turku .
– The shipyard’s impact should not be viewed as a one-way flow, where the shipyard generates prosperity for its surroundings, but rather as a relationship of mutual dependence. A successful shipyard needs a skilled workforce, research and development collaboration, effective training pathways, international experts and services within the urban area. That is why the shipyard’s competitiveness is built just as much outside its gates as inside them, says Minna Arve, CEO of Business Turku.
Photo: Copyright Meyer Turku
Translated using AI.