Foreign investor: Philip Morris International
Philip Morris International (PMI) announced in 2014 a 500 million Euros greenfield investment in Bologna for the production of iQos - a cigarette that heats tobacco instead of burning it.
The plant has been completed ahead of schedule in 2015. In 2021, PMI inaugurated the new Center for Industrial Excellence, the largest in the world of PMI with respect to industrialization, process innovation, engineering and sustainability.
The new Center is part of a broader investment plan for Italy amounting to around 600 million euros over three years, linked to the new non-combustion products, with an estimated direct, indirect and induced employment impact of around 8,000 jobs along the supply chain.