German Investments create 672,000 jobs in the USA

03/14/2017

The Representative of German Industry and Trade (RGIT), along with the German Embassy in Washington DC, presented the latest edition of its flagship publication “German Business Matters – A State-by-State Analysis of Imports, Exports and Jobs.”

In his opening remarks, Daniel Andrich, President and CEO of RGIT, spoke of the close German-American economic relationship, highlighting the latest bilateral trade, investment, and jobs numbers. In his welcoming address, Dale Tasharski, Deputy Assistant Secretary for Europe at the Department of Commerce, underlined that the USA is working to deepen this relationship through various trade promotional activities, such as participation in the annual Hannover Messe. Subsequently, an expert panel discussion on current challenges and opportunities for the transatlantic marketplace agreed that open markets were crucial to generating economic prosperity both in the USA and in Germany. The panel consisted of Judy Marks (CEO Siemens USA), Dr. Markus Kerber (Director-General of the Federation of German Industries), Boris Ruge (Deputy Chief of Mission of the German Embassy in Washington DC), and Bryan Riley (Senior Trade Policy Analyst at the Heritage Foundation).

4,700 companies in the USA benefit from German direct investment, and with a cumulative investment of $255 billion, Germany is one of the top-10 most important investors in the USA. German subsidiaries and affiliates based in the USA create 672,000 jobs, almost half of which are in the manufacturing sector, and play an important role in their communities across the country.

Compiled in cooperation with the German-American Chambers of Commerce (GACC), the “German Business Matters” reference booklet illustrates the number of jobs created by German affiliates in each of the 50 states. California and Texas are, respectively, with 69,600 and 43,000 jobs created, in first and second place.

Furthermore, “German Business Matters” examines the bilateral trade relationship between each state and Germany. States with the highest trade volumes with Germany also benefit from the highest number of “German-created” jobs.