The Volkswagen Commercial Vehicles Transporter (VWN) factory at Hannover-St�cken is the biggest employer in the region and operates a huge plant at the northern edge of town adjoining the Mittellandkanal and Motorway A2. Jointly with a factory of German tire and automobile parts manufacturer Continental AG, they have a coal-burning power plant. Continental AG, founded in Hanover in 1871, is one of the city's major companies. Since 2008 a take-over is in progress: the Schaeffler Group from Herzogenaurach (Bavaria) holds the majority of the stock but were required due to the financial crisis to deposit the options as securities at banks. TUI AG has its HQ in Hanover. Hanover is home to many insurance companies, many of which operate only in Germany. One major global reinsurance company is Hannover Re, whose headquarters are east of the city centre.
Hannoverimpuls is a joint business development company from the city and region of Hannover. The company was founded in 2003 and supports the start-up, growth and relocation of businesses in the Hannover Region. The focus is on seven sectors, which stand for sustainable economic growth: Automotive, Energy Solutions, Information and Communications Technology, Life Sciences, Optical Technologies, Creative Industries and Production Engineering.
A range of programmes supports companies from the key industries in their expansion plans in Hannover or abroad. Three regional centres specifically promote international economic relations with Russia, India and Turkey
