The traditional industrial area was located at the beginning of 20th century between Trieste and Muggia (Zaule) that was easy to reach with the goods unloaded in the port and from Istria the peninsula to the South-East of Trieste.
After the changing of administration from Austrian to Italian rule in 1918, great changes took place and the support of the central government was needed to develop the local economy in a new province. In the mid 30s a project to house promising industries focused on the port activities and a refinery was passed.
After the World War II the local industry was totally depressed; most of the buildings and also the port equipment had been bombed and unuseable. However the reconstruction started and new areas for the location of important factories were identified. Generally speaking the longstanding industrial tradition of Trieste was resumed and in 1956 the number of industries was around twenty among which: a mineral-oil refinery, an iron and steal industry, a pharmaceutical industry, texile factories, an electric bulb factory, a food preserved factory, a coffee roasting mill, a playing card factory, a distillery, a factory producing cured meats and sausages, etc.
In 1959 the free zone in the port was approved by the Italian government to enable the development of loading, unloading, transists of goods as well as the construction of industrial and transformation activities inside the area. In 1969 the big factory of Grandi Motori (diesel and marine engines) started the production; this ment the replanning of the area with the updating of the infrastructures located there. Quite recently this enterprise was merged with a Finnish holding.

The new trends of local industries can be based on an effective interaction with universities and research in general. In the 70s it was founded a new concern devoted to research the so-called "Science Park Area" in fields of biotechnology, informatics, telematics and spatial researches. Another important scientific complex is set close to Basovizza: in this complex the light generator of synchrotron "Elettra" is situated (1994).
Another institution is the BIC - Business Innovation Centre - whose main task is to assist young and active entrepreneurs to develop their new enterprises based on high-technology, cutting of the costs, sharing of information and legal and financial help.

Also the ship-building has been able to strengthen its working capacity with help of computerized planning and design. In fact new quite advanced cruise-liners have been planned and built in one of the biggest Naval Project Centres in Europe. The construction of these imposing passenger liners (as the Crown Princess) is carried out using prefabricated modules assembled and sealed together on the building-slips. The "Disney Magic" ready to sail from Trieste.

Tertiary sector and services.
Nowadays the most promising and rewarding field in the local economic is based on tertiary and in particular on insurance and banking that along with research and electronics form the foundation of the development of Trieste.

Since its first economic development in the first half of 19th century our town has been the seat of very important insurance companies: Generali (Assicurazionali Generali Spa) established in 1831, RAS (Riunione Adriatica di Sicurtà) in 1838 and Lloyd Adriatico founded as ship-building and shipping company under the Austrian rule and developed into an insurance company later. These companies have acquired a world wide importance in the insurance sector but also as holdings and are involved in the development of many foreign countries. In Trieste we can also find a Stock Exchange, constituted under Austrian rule, where securities, shares, debentures, bonds and other obbligations from all over the world are daily sold and bought.