This is a study of industrial parks in Europe and their impact on the places where they are established. The European Union's strategy, the Green Deal, is pushing the green transition in Europe, and large-scale industrial parks are being established in territorial regions in the name of this transition. The aim of this chapter is to explore the challenges and opportunities with industrial parks from the perspective of sustainable territorial development. The study was conducted as a case study where five territorial areas in Europe (located in Finland, Norway, Sweden, Estonia and Italy) were studied. Data collection was conducted with semi-structured interviews, internet sources, and on-site observations. The results show the importance of communication and interaction between the stakeholders. Another result is that culture and language play a significant role in this process. Moreover, when building sustainable communities, well-functioning infrastructure and good services are essential. This study contributes to knowledge about challenges and opportunities when establishing industrial parks. Both managers and officials from municipalities can benefit from this study.