Essen forms the heart of Germany's industrial landscape, which makes it a preferred destination for major companies, SMEs, startups, and research institutions. Home to many corporations, Essen is home to many corporations and as a result has become a breeding ground for innovation and entrepreneurship. The city’s economy is continuously growing, which has had a positive effect on the consumer goods industry, and the city witnesses dynamic trends develop seemingly overnight. Essen boasts the headquarters of several prominent companies, including three DAX-listed firms like E.ON, RWE and Brenntag, along with major players like thyssenkrupp and Evonik. These industry giants drive economic growth and provide employment opportunities. Additionally, Essen is home to hidden champions such as ifm electronic and ista, which excel in innovation and compete on a global scale with their cutting-edge products and services. With over 85% of employees working in the service sector, Essen’s economy is increasingly driven by services such as finance, healthcare, and information technology. The city boasts a highly educated workforce with over 22% of employees holding academic degrees, surpassing regional and national averages. This skilled talent pool contributes to Essen’s reputation as a knowledge hub and fosters innovation across industries. Essen offers a relatively high wage level coupled with a comparatively low cost of living, making it an attractive destination for businesses and residents alike. According to a report by the job exchange StepStone, Essen ranks first among the 30 largest cities in Germany in terms of cost-effectiveness. Residents possess high spending power, which drives sales in the consumer goods sector. The city's economic backbone is formed by a strong industrial core, supported by sectors such as construction, energy, metal, electrical engineering and mechanical plant engineering. This diverse economic landscape ensures resilience and adaptability, positioning Essen as a dynamic business hub capable of navigating changing market trends.