5/22/2009

Study shows: Germany is first choice as location for US companies in Europe

MUNICH    For the first time Germany has been named as the most attractive location in Europe for American companies. That is the result of the sixth AmCham Business Barometer, a joint survey conducted by the American Chamber of Commerce in Germany (AmCham Germany) and The Boston Consulting Group. Bavaria’s Minister of Economic Affairs, Martin Zeil, was delighted to hear this: “The study endorses the business development policy pursued by Bavaria. Over the past few years, Bavaria has developed into a focal point for US investments in Germany. Google, for instance, has chosen Munich as the site of its first research center in Germany. This impressively demonstrates how attractive Bavaria is for US companies.”

Since 2004, the AmCham Business Barometer has been surveying the satisfaction of US companies with Germany compared to other European countries. Altogether 61 companies with total revenues of 110 billion euro and 250,000 jobs in Germany took part in the current survey. For the first time, Germany performed better than all the other European countries. Last year Eastern European locations came out in top place.

According to Fred B. Irwin, President of AmCham Germany, the fact that this has now changed is not due exclusively to the decreasing wage differential between Germany and Eastern Europe. “Bavaria is very popular especially among US companies in research-intensive sectors. Our survey has shown that of all the locational factors, most importance is attached to the qualifications of talented young employees. Bavaria’s universities and research institutes enjoy an excellent reputation among American companies. This is an important argument in Bavaria’s favor when it comes to planning new research capacities“, Irwin explained.

It was only last March that Intel, the world’s largest semi-conductor manufacturer, opened a new research center at Feldkirchen near Munich. In addition, GE Aviation, a leading producer of jet aircraft engines with its headquarters in Ohio, is currently setting up a new development center in Regensburg. Last fall, IT giant Microsoft had already announced that it was going to establish a new center for search technologies in Munich.

“This successful track record proves that top-class research and infrastructure are convincing even in difficult times. The two Bavarian representative offices in San Francisco and New York were making a major contribution to Bavarian location marketing. Our local offices competently and reliably answer all questions about Bavaria as a top location for industry. We will continue to offer American investors optimal support in the future as well“, Minister Zeil added.

Bavaria and the USA have a long tradition of close business relations. With a trade volume of more than 24 billion euro, the USA is Bavaria’s most important industrial partner after Austria. Some 750 Bavarian companies have a branch office in the USA and, vice versa, about 850 US companies are actively operating in Bavaria.

Source: Invest in Bavaria

For more information about establishing a location in the State of Bavaria, please contact Jan Danisman 212-317-0588 INFO at BAVARIA.ORG