The Potential of Commercial Investments in Medium-Sized Cities

The Accolade ranking covers 10 cities selected from over 30 medium-sized Polish urban centers (with populations between 100,000 and 400,000). The ranking is based on nine criteria: demographics, labor market, wages, residential construction, private sector activity, academic facilities, road infrastructure, and supply/demand indicators for warehouse space. Cities could also earn bonus points for locational advantages, such as proximity to a border or seaport.

Today, medium-sized cities are fully-fledged players in the industrial investment market. They are developing better infrastructure, have access to educated personnel, a growing private sector, and distinct locational advantages. The trend of moving beyond major metropolitan areas in the warehouse sector is deepening year by year, and Accolade is a market maker in this trend. From the beginning of our operations in Poland, we have been investing outside large agglomerations, in cities such as Bydgoszcz, Zielona Góra, Białystok, and Lublin – and we see this strategy working. More and more companies are choosing to locate their operations in these cities, benefiting from factors such as cost efficiency. However, it's important to remember that to strike the best balance between cost and quality, every organization should analyze an investment location in the context of its specific business needs. Large cities are increasingly competing for investor attention – offering various incentives, grants, or infrastructure improvements. That’s why we felt it was time for an equally in-depth look at the potential of medium-sized cities. Our report complements existing analyses of major cities, but it showcases a different and very dynamically developing part of Poland - comments Joanna Sinkiewicz, Director of Commercialization at the Accolade Group.

Number 1: Szczecin

With a score of 77 points (out of a possible 93), Szczecin ranked first in Accolade’s “Medium-Sized Cities – Great Investment Potential” report. It received top scores for road and warehouse infrastructure, as well as for its locational advantages, such as proximity to the German border and a seaport. The city is the leader in terms of warehouse market supply and demand, and is among the top cities for road infrastructure. Its excellent location makes Szczecin one of the most strategic industrial hubs in Poland.

Number 2: Lublin

With 73 points, Lublin ranked second, standing out as the largest academic center in the ranking. It achieved the highest scores for student numbers and was among the best for the number of universities and newly built residential units. As a strong academic center, combined with dynamic residential construction and a highly active private sector, Lublin is becoming a natural destination for investments in services, warehousing, and light industry.

Number 3: Bydgoszcz

Scoring 60 points, Bydgoszcz took third place due to high private sector activity, strong residential construction performance, and an excellent warehouse market situation. The city is steadily strengthening its position as a logistics and industrial hub in north-central Poland. Its location, infrastructure development, and access to skilled labor make it one of the most attractive cities for entrepreneurs.

Number 4: Rzeszów

Just missing the podium with 59 points, Rzeszów received high marks for its low unemployment rate, active private sector, and number of new residential units. The city is experiencing rapid development, and its importance as an industrial and logistics center is growing both regionally and geopolitically. In recent years, Rzeszów has become a key location for investors looking for sites in eastern Poland.

The top three cities – Szczecin, Lublin, and Bydgoszcz – are locations where Accolade has already completed many investments and has ambitious plans for the coming years. These locations prove themselves not just on paper, but more importantly in practice. Rzeszów, on the other hand, is a rapidly developing ‘rising star,’ - comments Joanna Sinkiewicz on the ranking results.

Number 5: Częstochowa

With 58 points, Częstochowa is among the top cities thanks to a strong labor market, a growing number of businesses, and a solid academic base. The city benefits from both its internal potential and proximity to the Silesian agglomeration, building a competitive position in the commercial investment market.

Number 6: Białystok

Białystok scored 57 points, achieving high results in student numbers and completed residential units. The capital of the Podlasie region is gaining attention as an educational center with growing infrastructure potential. Improving transport accessibility is making the city increasingly attractive to investors.

Number 7: Kielce

Kielce scored 43 points and stood out with strong ratings in unemployment, number of businesses, and access to road infrastructure. It is a solid location effectively attracting manufacturing and logistics tenants.

Number 8: Gliwice

Gliwice earned 41 points, distinguished primarily by its strong academic base, led by the Silesian University of Technology. A well-developed road network and a technically skilled workforce make the city attractive for companies in the industrial and advanced technology sectors.

Number 9: Zielona Góra

Zielona Góra, with 26 points, received high marks for its locational advantages – proximity to the German border and increasingly robust road infrastructure. The city is successfully attracting investments in modern warehouses and distribution centers, especially in the context of exports to the West.

Number 10: Gorzów Wielkopolski

With a score of 20 points, Gorzów Wielkopolski rounds out the first edition of the ranking, placing it among the 10 most promising medium-sized cities in Poland. The city’s investment appeal is growing thanks to available development land, improving infrastructure, and its strategic location near the western border.

Cities like Białystok, Zielona Góra, or Gorzów Wielkopolski are now permanent fixtures on the commercial investment map. Each has its own strengths – proximity to Germany, a strong automotive sector, or developed road infrastructure. These are locations with a bright future, and they are very likely to climb higher in future editions of the ranking - concludes Joanna Sinkiewicz from Accolade.

Source: Accolade