News stories and community news from the East Coast

NEWS | Economy

GERMAN COMPANIES IN U.S. GROW DESPITE CONCERNS ABOUT FREE TRADE AND WORKFORCE

German subsidiaries in the U.S. are growing and investing heavily despite some skepticism regarding the state of free trade and the availability of a skilled workforce, according to the 2019 “German American Business Outlook” (GABO) survey conducted by the German American Chambers of Commerce (GACCs) and the Representative of German Industry & Trade (RGIT).

Despite concerns related to protectionist tendencies in U.S. trade policy, a vast majority (91%) of the surveyed German companies are expecting growth for their own businesses. Workforce remains a vital issue for German subsidiaries in the U.S.: Companies continue to face a lack of skilled workforce (87%), and difficulties in obtaining work visas have increased from 58% to 78% compared to 2018.

“The increasingly uncertain investment environment is a roadblock of this positive trajectory, and the GACCs are here to support German subsidiaries with their continued success in the U.S.,” says Peter Riehle, the newly elected Chairman of the GACC.

Key opportunities for German companies in the U.S.—according to the survey—are the 2018 tax reform as well as a reduction of regulations that have had a favorable impact on a broad majority of respondents’ businesses. In addition, companies increasingly focus their growth agenda on mergers and acquisitions (M&A), with one out of five companies planning on expanding their business in 2019.

GERMAN COMPANIES CREATED MORE THAN 674,000 JOBS IN THE U.S. AND TOTAL INVESTMENTS FROM GERMANY TO THE U.S. AMOUNT TO US$ 373 BILLION.

Key challenges, however, lie in the workforce development and visas: Finding skilled labor and obtaining work visas increasingly worry German companies. 90% of respondents say open markets are rather or very important to their business.

Immediately following the mid-term elections in November 2018, the GACCs and RGIT approached 1,900 senior executives of German-owned subsidiaries in the U.S. with the “German American Business Outlook”. German companies created more than 674,000 jobs in the U.S. and total investments from Germany to the U.S. amount to US$ 373 billion.

"See www.ahk-usa.com/gabo for more information.

12 | HEIMAT abroad | SPRING 2019

NEWS | Wirtschaft

TROTZ ERSTER ANZEICHEN FÜR EINEN WIRTSCHAFTSABSCHWUNG WACHSEN DEUTSCHE UNTERNEHMEN WEITER

Deutsche Tochtergesellschaften wachsen und investieren immer mehr, trotz Freihandel-Einschränkungen und Fachkräftemangel, besagt die aktuelle Studie „German American Business Outlook“ 2019 (GABO). Die GABO-Umfrage wird jährlich durch die Deutsch-Amerikanischen Handelskammern (AHK USA) sowie dem Delegierten der Deutschen Wirtschaft (RGIT) durchgeführt.

Trotz Sorgen bezüglich der protektionistischen US-Handelspolitik erwartet ein Großteil (91%) der befragten deutschen Tochtergesellschaften Wachstum für ihr Unternehmen. Der Fachkräftemangel bleibt jedoch eine Hauptsorge für 87% der deutschen Unternehmen in den USA. Zusätzlich ist es für Firmen schwieriger geworden, Arbeitsvisa zu erhalten: 2018 haben 78% der befragten Unternehmen dies als Schwierigkeit angegeben, im Vergleich zu 58% im Vorjahr.

DEUTSCHE UNTERNEHMEN SCHAFFEN MEHR ALS 674.000 STELLEN IN DEN USA

„Für diese positiven Entwicklungen sind die sich vergrößernden Unsicherheiten eine Gefahr. Die AHK USA wird die deutschen Tochtergesellschaften daher umso mehr bei ihrem Geschäft in den USA unterstützen“, sagt Peter Riehle, neu gewählter Vorstandsvorsitzender der AHK.

Chancen, laut GABO, liegen in den wirtschaftsfreundlichen Reformen, wie die Steuerreform 2018 und die gleichzeitige Deregulierung, die einen positiven Einfluss auf die große Mehrheit der befragten Unternehmen hatten. Der Kapazitätsausbau nimmt weiterhin zu und Firmen setzen bei der Erweiterung vermehrt auf Mergers und Akquisitionen (M&A): Eine von fünf Firmen plant ihr Geschäft in 2019 durch M&A zu erweitern.

Auf der anderen Seite stehen die Herausforderungen im Bereich Fachkräftemangel und Visa: Qualifiziertes Personal vor Ort zu finden sowie Schwierigkeiten beim Erhalt von Arbeitsvisa machen deutschen Unternehmen zu schaffen. 90% der befragten Unternehmen sagen, dass offene Märkte wichtig oder sehr wichtig für ihr Geschäft sind.

Direkt im Anschluss an die amerikanischen Midterm-Wahlen im November 2018 schickten die AHK USA und RGIT die Umfrage „German American Business Outlook“ an 1.900 Führungskräfte deutscher Firmen in den USA. Deutsche Unternehmen schaffen mehr als 674.000 Stellen in den USA; deutsche Investitionen in den USA belaufen sich auf 373 Milliarden US-Dollar.

"Weitere Informationen unter www.ahk-usa.com/gabo

HEIMAT abroad | SPRING 2018 | 13

COMMUNITY NEWS | East Coast

ICH BIN EXPAT FAIR in New York City

Many major cities like Amsterdam, Singapore and Munich have annual fairs and events for their expat community. With New York being one of the most diverse cities in the world, one would think that it definitely has a similar event. To our surprise it did not – until the HEIMAT abroad team came along and changed that. At least for the German speaking community.

On November 3rd, 2018 the second annual ICH BIN EXPAT FAIR took place at The Mezzanine in downtown Manhattan. It was another huge success with close to 600 attendees, more than 40 exhibitors, talks and lectures, and a kids’ program.

Exhibitors representing industries like education, moving, housing, finance, law, and interior design showcased their products and services throughout the day. The food related booths featuring “quark” by WünderCreamery, cold pressed organic oils by Ulli‘s Oil Mill, and delicious Schmitt Lebkuchen and other imported European sweets by European Deli were well received by our visitors. Our caterer Essenscrush made

sure no guest left the premises hungry. Throughout the day, visitors attended seminars and workshops covering topics like „Navigating the U.S. Healthcare system“, the „Importance of LinkedIn for your professional presence“, or „Insights in U.S. Tax Law for Expats“.

One of the highlights was the door prize drawing which included a large print by famous New York based photographer Karsten Staiger (read more about him in our interview on page 27) from his “New York Love Story” collection, a Miele vacuum and tickets to the prestigious annual Goose Dinner hosted by the German American Chamber of Commerce.

At the ICH BIN EXPAT FAIR we aim to not only support businesses, but also artists in our community. We were honored that world-renowned photographer Karsten Staiger joined us as our featured artist. The talented magician Lukas Baeskow headlined the entertainment part with his magic shows throughout the event.

This fair would not have been possible without the support of the German American Chamber of Commerce and our media partners. A big thank you goes out to our event sponsors Eurowings, Engel & Völkers, and Aprio.

Co-HostSponsors

Media Partners

JOIN US IN 2019!

If you are a business or organization serving the German-speaking expat community either in the Greater New York area or independent of location, visit our website www.ichbinexpatfair.com or contact us at info@ichbinexpatfair.com to inquire about sponsorship and exhibitor options.

You can watch our event video here:

COMMUNITY NEWS | East Coast

ACG’S MCCLOY AWARDS DINNER

Honors Joe Kaeser of Siemens AG and 38th U.S. Secretary of Commerce Penny Pritzker

The American Council on Germany’s 26th annual John J. McCloy Awards Dinner paid tribute to two distinguished leaders who have fostered close economic ties across the Atlantic while celebrating the longstanding important partnership between Germany and the United States.

On December 3, the ACG honored Joe Kaeser, President and Chief Executive Officer of Siemens AG, with the 2018 McCloy Award and Penny Pritzker, 38th U.S. Secretary of Commerce and Founder and Chairman of PSP Partners, with the 2018 Transatlantic Leadership Award at Capitale in New York City. ACG Chairman Ambassador John B. Emerson, Vice Chairman of Capital Group International and former U.S. Ambassador to Germany, was the emcee. David Gill (1992 ACG Young Leader), Consul General of Germany in New York, read a letter from Chancellor Angela Merkel and also recounted the strong impact his experience as an ACG Young Leader had on his career trajectory. ACG President Dr. Steven E. Sokol gave an overview of the ACG’s recent initiatives and moderated a panel discussion with the honorees. About 325 thought leaders, decision-makers, and stakeholders from both sides of the Atlantic were in attendance.

The American Council on Germany is an independent, nonpartisan nonprofit organization that was founded in 1952 to strengthen German-American relations. Today, through a range of programs and activities – including policy discussions in New York and across the country, conferences, a Young Leaders program, fellowships, and outreach – the ACG addresses the most pressing economic, political, and social challenges of the day to ensure better

mutual understanding across the Atlantic and across generations.

In his acceptance speech, Mr. Kaeser highlighted the importance of dialogue in these times of division: “Today it takes dialogue to unite a divided society. Today it takes courage to speak up against racism, nationalism, and speak up for human rights. Today it also takes, more than ever, people like John McCloy. And last but not least, it takes leaders who show our people the way.” Ms. Pritzker underlined the ongoing importance of German-American ties, saying that “our partnership was and is vital to getting things done globally.”

Both honorees made a heartfelt mention of the pivotal role of the late George H.W. Bush – whom Mr. Kaeser called “one of America’s greatest sons” – in building transatlantic relations and helping to foster Germany’s unification.In the panel discussion that followed, Mr. Kaeser and Ms. Pritzker addressed topics including the roles of multinational corporations in a globalized world, how to address the skills gap and prepare for AI and other technological change, and how best to preserve and strengthen transatlantic relations in the coming years.

Responding to a question on what can be done to support and strengthen the transatlantic relationship now, Ms. Pritzker ans-

wered, “Dialogue and engagement. When you are engaging, you are trying to understand. And when you are trying to understand, you’re not fighting.” Joe Kaeser concurred, saying simply, “Talk to each other and not about each other.”

Musical performances were provided by Suspicious Package, a Washington-based band that boasts one ACG Young Leader alumna and three Pulitzer Prizes.

HEIMAT abroad | SPRING 2019 | 15