Economy of Kaunas

There are also some innovative companies located in Kaunas, such as leading wholesaler of computer components, data storage media "ACME group", internet and TV provider, communications JSC "Mikrovisata group", developer and producer original products for TV and embedded technologies JSC "Selteka". Joint Lithuanian-German company "Net Frequency", based in Kaunas, is a multimedia and technology service provider. Kaunas is also home to JSC "Baltijos Programinė Įranga", a subsidiary of No Magic, Inc., producing world-leading software modeling tools. A LED lighting assembly plant was opened in Kaunas by South Korean company LK Technology in February 2011. JSC “Baltic car equipment” is one of the leaders in Baltic countries, in the field of manufacturing electronic equipment for automobiles. It also specializes in development of new telemetry, data base creation, mobile payment projects. Kaunas Free Economic Zone established in 1996 has also attracted some investors from abroad, including the development of the new 200 MW Co generation Power Plant project, proposed by the Finnish capital company Fortum Heat Lithuania. Before its disestablishment, Air Lithuania had its head office in Kaunas. Kaunas Hydroelectric Power Plant is the largest one in Lithuania.

Some notable changes are under construction and in the stage of disputes. The construction of a new landmark of Kaunas - the Žalgiris Arena - began in the autumn of 2008. It was completed in August 2011. Currently discussions are underway about the further development of the Vilijampolė district on the right bank of the Neris river and the Nemunas River, near their confluence