"Smart public location policy" : a policy statement regarding emerging market multinationals in Europe

With the expansion of emerging market multinationals into Europe, Western domination, open regionalism, and established standards of sustainability are being put to the test. A smart public location policy can contribute to mutually beneficial and sustainable development. We propose that a smart location policy starts with the identification and selection of multinationals in line with the regional economic structure and with long-term development goals. The evaluation has to be carried out at macro (e.g. reciprocity, role of the state), meso (compatibility with regional economic policy strategies, contribution to innovation and to ecological, social, and economic sustainability), and micro (compliance with sustainability goals, specific political and economic background) levels. Moreover, support should be provided for multinational corporations to achieve adaptation to European standards and integration into local networks.