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Greece represents a very peculiar case of industrial development due to a series of historical evolutions. Hence, the present paper aims to discuss the shift from the unregulated and unplanned spatial development paradigm of productive activities to the one of modern “Business parks” (hereinafter BPs), expected to adapt to international standards the location and function of industrial activity, in the Greek territory. Inherent problems and constraints hampering the modernization of industrial development are presented and specific policy recommendations are formulated, with the aim of embedding the industrial parks in sustainable territorial development. This is done through a four-step methodology including (a) an inventory of BPs from the international milieu and the review of current trends in view of the green transition, (b) an analysis of the effects of Greek regulations on the development of the so-called “Organized Receptors of Manufacturing and Business Activities” (OYMEDs) and the suggestion of guiding principles as BPs become more attractive, and (c) the construction of a system of indicators that may govern the transformation of existing parks into eco-industrial parks (EIPs) and monitor their multiple performances. Lastly, an attempt to apply this system of indicators on a national and local level was carried out. Findings show that the regulatory and operational framework concerning BPs in Greece requires a comprehensive revision so as to (a) increase synergies of BPs with the implemented or planned territorial policies, (b) establish collaborative mechanisms acting as catalysts of creativity and innovation, (c) introduce a system of indicators to monitor the development of BPs on the basis of the international framework for eco-industrial parks (EIPs), and (d) pursue an evidence-based industrial policy on national and local levels. A critical outcome is also that strong coordination between spatial and industrial policy is needed, through a high-level inter-ministerial body.
