Last year, 173 new foreign companies chose to locate in the German state of Hesse. That is 10 more than in 2016, according to the annual report by the state-owned agency Hesse Agentur, based in Wiesbaden.
Most of the new companies were from the United States, China and Japan. The companies were mainly active in the IT and software industry, the financial sector and business services.
In 2016, Great Britain was still among the top three. Over the last four years, a total of 755 international companies have either settled in Hesse or expanded their operations in the state.
Hesse’s business development agency, which primarily generates its income from contracts with the state government, posted revenues of more than 23.9 million euros (plus 4 percent) in 2017.
The annual profit, on the other hand, fell from 487,000 euros to 301,000 euros year-on-year. The reason given for this is the increase in the number of employees from 80 to 97. In addition, there were additional expenses as a result of the foundation of the state energy agency in 2017.
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