Hamburg Invest: Business development secures 8900 jobs

The partnership with Scandinavian countries plays a key role in Hamburg Invest’s international activities: “Year after year, the Scandinavian countries are among the top 10 in the Global Innovation Index and are regarded as pioneers for innovative solutions in areas such as digitisation and mobility. Relocating Nordic companies thus helps consolidate Hamburg’s position as a dynamic, attractive centre for business and innovation,” said Dr Rolf Strittmatter.

Looking forward, the Fehmarnbelt Fixed Link will bring Northern Europe even closer together with Hamburg, the most southerly metropolis of Scandinavia. In future, the Fehmarnbelt corridor will connect the metropolitan regions of Hamburg and Copenhagen, while also integrating Southern Sweden. This connection will offer the opportunity to strengthen collaboration across different fields and to compete globally as one larger region with a population of around 10 million people. Current projects include the development of a hydrogen corridor from Hamburg via Copenhagen to Oslo, branding the region as a green hub, as well as promoting green initiatives and investment projects.

With the establishment of the Swedish Chamber of Commerce in Hamburg in 2019, Hamburg Invest was able to support an important strategic step for the city’s German-Swedish business community, which comprises more than 110 companies and has supraregional appeal thanks to major players such as Vattenfall and Securitas.

Especially the relocation of electric car battery manufacturer Northvolt, in which Hamburg Invest played a decisive role, underlines Northern Germany’s particular strengths: the company’s production facilities in Heide and its head office in Hamburg represent two major components that complement each other. The Hamburg branch will be opened on 1 July 2024 in the presence of Hamburg’s First Mayor, Dr Peter Tschentscher.

The year 2023 also saw other companies such as Stock Republic (fintech) and Consid (IT) setting up business in Hamburg. Consid, one of the fastest growing companies in Northern Europe, realises digital business models based on its clients’ visions. Patrik Hall, CEO of Consid, said: “We chose Hamburg as the location for our expansion project because it is the economic centre of Northern Europe. Thanks to the region’s proximity to Scandinavia, people in Northern Germany have a pronounced interest in Swedish business culture and are familiar with Swedish values in business cooperation.”