Porta Nuova (Milan)

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rdf:langString Milan skyline with Unicredit Tower and Bosco Verticale.jpg

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rdf:langString Porta Nuova (pronounced [ˈpɔrta ˈnwɔːva]; literally "New Gate"; Milanese: Pòrta Noeuva [ˈpɔrta ˈnøːʋa]) is one of the main business districts of Milan, Italy in terms of economy, and part of the Zone 2 administrative division. Named after the well-preserved Neoclassic gate built in 1810 on this site, it is now one of Italy's most high-tech and international districts, containing the country's tallest skyscraper: the Unicredit Tower Porta Nuova has a 2017 city GDP of €400 billion, which makes it Europe's richest district within any city. A concentration of companies are based in Porta Nuova, with 4% of all institutions and conglomerates found in Italy, while Milan has 40% of all these business, and Milan's Lombardy Region has 53% of it. Industrialization is also profusely increasing within the district. A total of three Fortune 500 companies are located in it, namely AlfaRomeo, Pirelli and Techint, with a lot of other significant companies, including luxury fashion house Versace and italian football giants Internazionale. Geographical Porta Nuova was the main engine of the global invention of "polypropylene" by Giulio Natta, or in other terms, plastic, popularized by several companies within the city during the 1950s. Porta Nuova began manufacturing trams, buses, and trains, as part of Milan's public transport system which now gave Milan Europe's most advanced light rail system. In 2019, Milan is in course to have several tax-free or flat tax services, as part of attracting domestic and international businesses which will be initiated in the area of Porta Nuova. It is also an integrated response to gain several European Union agencies from United Kingdom following Brexit and to prevent a possible economic fallout.