Officially in the Modena area balsamic vinegar has been produced since 1933. Balsamic vinegar is a typical product of the Modena and Reggio Emilia areas. Traditional vinegar is made by fermenting the must, acetifying it and aging it for at least 12 years, while the non-traditional one, through the mix of must, wine vinegar and a minimum percentage of caramel.
For further information:
https://it.wikipedia.org/wiki/Aceto_balsamico
https://www.consorziobalsamico.it/aceto-balsamico-di-modena/come-si-produce/