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German companies with record investments in the USA – “We are currently falling behind”

2024-02-22T19:42:10.892Z

Highlights: German companies with record investments in the USA – “We are currently falling behind’ Germany is the fourth largest foreign investor in the United States, creating over 330,000 jobs there. The main reason for the attractiveness of the USA as a location is the Inflation Reduction Act (IRA) drawn up by the US government under President Joe Biden. The clear framework conditions of the IRA give companies investment security, according to economists. Then there are the cheaper energy prices and the strong growth of the US economy.



As of: February 22, 2024, 8:27 p.m

By: Lisa Mayerhofer

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VW is building a new production facility in the USA – and is investing two billion in it.

(Symbolic image).

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German companies invested record sums in the United States in 2023 - also because there is an extensive funding program there.

Meanwhile, Germany's attractiveness as a location is declining.

Munich - Germany is the fourth largest foreign investor in the United States, creating over 330,000 jobs there, reports the Federal Ministry of Economics.

Maybe there will soon be more: While there is a lot of discussion about the attractiveness of Germany as a location, more and more local companies are taking a look across the pond - and apparently prefer to invest there.

German companies are investing billions in the USA

This is shown by figures from the data provider fDi Markets, which is part of the Financial Times business newspaper.

According to this, there were 185 German investment projects in the USA last year, which were valued at 15.7 billion dollars (14.5 billion euros), explains

ntv

.

The year before, the value was $8.2 billion.

The former leader China only has around six billion dollars.

A prominent example of German investment in the USA is the new plant of the VW subsidiary Scout, which is expected to cost two billion euros.

There, in the US state of South Carolina, electric pickup trucks and SUVs are expected to roll off the assembly line in two years, creating 4,000 jobs.

Inflation Reduction Act makes the USA attractive for German companies

The main reason for the attractiveness of the USA as a location is the Inflation Reduction Act (IRA) drawn up by the US government under President Joe Biden, which includes numerous tax breaks and subsidies - especially for climate-friendly future technologies such as electromobility.

The clear framework conditions of the IRA give companies investment security, according to economists.

Then there are the cheaper energy prices and the strong growth of the US economy.

Last year, an evaluation by the German Chamber of Commerce and Industry (DIHK) pointed out that investment activities by German companies were moving towards the USA.

In the DIHK analysis, 17 percent of German companies stated that they would expand their US investments - which would also be at the expense of the local location, reports the Handelsblatt, DIHK foreign trade chief Volker Treier said in this context, according to the magazine.

“It is noteworthy that the investment dynamics of German companies worldwide are significantly higher overall than at home and that they are particularly strong in North America.”

American companies are increasingly critical of Germany as a location

Andersherum nimmt die Begeisterung eher ab: So bewerten US-Unternehmen Deutschland nach Einschätzung der Amerikanischen Handelskammer in Deutschland (AmCham Germany) zunehmend kritisch. Die Bewertung des Standorts habe sich im Jahresvergleich etwas verschlechtert, sagte AmCham-Präsidentin Simone Menne der Deutschen Presse-Agentur vergangenen Dezember. „Und für das kommende Jahr wird keine Verbesserung erwartet.“

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Sie sehe zwar keinen Niedergang des Standortes und keine Deindustrialisierung in Deutschland, „aber wir fallen derzeit zurück, und das macht allen Sorgen, auch unseren transatlantischen Partnern, die große Erwartungen an die größte Industrienation Europas haben“, so Menne.

Verbände fordern industriefreundlichere EU-Politik

Das sorgt für immer mehr Unmut – denn in Deutschland herrscht in der Regierung derweil Unstimmigkeit, wie genau die Wirtschaft angekurbelt und der heimische Standort attraktiver gemacht werden soll. Mehr als 50 hochrangige Unternehmensvertreter und 15 Industrieverbände haben sich nun diese Woche gleich an die EU gewandt und in der sogenannten Antwerpener Erklärung eine industriefreundlichere EU-Politik gefordert.

Unter anderem sprechen sie sich für einfachere Staatshilfe, niedrigere Energiekosten und mehr europäische Bergbauprojekte für wichtige Rohstoffe aus. Während die US-Wirtschaft von Staatshilfen über IRA profitiere, erhöhten chinesische Überkapazitäten und zunehmende Exporte nach Europa den Druck auf die europäische Industrie, so der Vorwurf. „Unsere Unternehmen sind täglich mit dieser Herausforderung konfrontiert. Standorte werden geschlossen, die Produktion gestoppt, Mitarbeiter entlassen“, heißt es. Unterschrieben wurde die Erklärung unter anderem vom Bayer-Vorstandsvorsitzenden Bill Anderson und dem BASF-Unternehmenschef Martin Brudermüller. 

Mit Material der dpa

Source: merkur

All news articles on 2024-02-22

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