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This article proposes a dynamic representation of the relation between stakeholder networks and the territorial attractiveness of companies in the Moroccan context. The objective is to show that, beyond the financial and economic factors, this intervention mode constitutes, through proximity, an important managerial opportunity for public action, complementing those based on the dichotomy between territorial supply and business demand. To this end, we test six propositions based on the theory of proximity. The results demonstrate that geographical, organizational, institutional, and relational proximity promote stakeholder networking and thus the development of territorial attractiveness.