Navionics, an Italian-based developer and manufacturer of electronic navigation charts and systems, has opened a research and development center in Estonia.
Founder and president of the company, Giuseppe Carnevali, said in a press statement by Enterprise Estonia on Sunday that his group chose Estonia after comparing all three Baltic states. Estonia was selected due to more its favorable tax and labor legislation, low level of corruption and a balance between labor costs and the cost of living.
Enterprise Estonia was involved with attracting the company to Estonia.
“This type of company is exactly the sort of much talked about smart business that brings high added value and economic growth,” said Martin Hirvoja, a member of the management board at Enterprise Estonia.
The company is hoping to hire 30 people for the center in its first year.