In the 19th century, the province situated in the North of Styria was called "Iron-Gusswerk". Initially, it specialized in smelting iron and later in the production of weapons, jewelry and household goods. Towards the end of the iron industry, the total inhabitants of Gusswerksank rapidly. In 2009, Gusswerk's number of inhabitants decreased to a mere 39% of thetotal population in 1869 (STATISTIK AUSTRIA 2009). The master's thesis, "The development potentials of the province of Gusswerk", analyzes the problem of the continuing out-migration and the stagnant economy with the goal of locating possible development potentials for the province. This is achieved through the SWOT analysis, an economic strategy for identifying strengths, weaknesses, opportunitiesand threats for a company - or in this case - the province of Gusswerk. Through the application of the SWOT analysis, it is clear that Gusswerk has various potentials for progress. In the primary sector, the agricultural community could increase its income by creating a standardized trademark to market local agricultural products. In the secondary sector, businesses in Gusswerk are well-situated on the market due to thehigh level of quality in their products. Additionally, the increased promotion of custom tailored products would enable them to fill specific market gaps. Furthermore, a presentation of their products via the internet would increase the companies' national andinternational recognition. Within the tertiary sector it would be possible to offer local agricultural goods as well as fish and deer products in gastronomy in response to the increasing trends in quality diningand well-being. Expanding the hiking trails to include horseback riding, fitness oreducational excursions as well as presenting this information via maps and on the internetwould increase tourism within the area. The ideas above present just a few possibilities forfurther applying the various potentials of Gusswerk.