Reindustrialization: the step is “high” but “attainable”, according to Bpifrance

The objective of reindustrializing France, which has no longer been debated since the shortages of masks and medicines during the Covid crisis, requires increasing the added value created by industry more quickly than by services and agriculture, recalls Bpifrance.

The public bank, which surveyed 2.800 business leaders and 5.000 French people, sets the objective of 12% share of manufacturing industry in GDP by 2035, compared to 9,7% in 2023, to achieve balance of the trade balance in manufactured products.

This requires, according to her, gaining “233 billion in manufacturing added value”, therefore “strongly accelerating industrial production” and “anticipating the creation of 600.000 to 800.000 additional salaried jobs”.

“The step is high but it is achievable,” commented Philippe Mutricy, director of studies.

“The existing industrial fabric represents 70% of the steps to be taken,” he explained, the remaining 30% to be carried out by new projects, French or foreign, for a total of 71 billion euros.

On Monday, fifteen billion euros of investment projects were announced during the “Choose France” summit held in Versailles.

While the establishment of factories is sometimes contested locally, 82% of French people say they are in favor of reindustrialization, even if price remains the first purchasing criterion cited, far ahead of French production.

The most popular sectors nationally are pharmacy and health (60%), followed by electrical and electronics (41%).

In terms of representations, the photo of a factory with smoke coming out comes first, and 56% of respondents say they are concerned about the negative consequences of reindustrialization, particularly in terms of pollution.

Employment concentrates by far the majority of French people's expectations (44%).

Several maps also reveal the employment areas where the potential for industrial development is greatest.

“While industrial dynamics are currently developing in the West and the South-West, the potential for the future seems to be located in the formerly deindustrialized North and East,” note the authors.

“All territories have potential for industrial projects, but not all can and do not want to attract all projects,” they note.

Given the issues of land sobriety and water resource management, "the industry will no longer be able to choose its territory as before", judges the study, citing its necessary acceptability by the population.