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10,000 New Jobs, Investments Increased
Date:5/12/2009

rther advantage for Germany as a chemical industry site: Every second chemical park, according to Juszak, is directly connected to a research network, as the industry is dependent on a constant flow of research results. The chemical industry also hopes to continue its high research and development investments in order to emerge stronger from the global economic crisis. In this context, Juszak welcomes the federal minister's introduction of tax relief for companies' research and development initiatives. "It is important that both the small businesses and large companies benefit from this support," stressed the Chairman, "because innovation, especially in the chemical industry, is based heavily on cooperation."

GTAI Chief Executive Michael Pfeiffer confirms that Germany is also seen as an attractive investment location for foreign investors. Germany Trade & Invest is the new foreign trade and inward investment promotion agency of the Federal Republic of Germany. One of the organization's missions is to attract foreign investors to Germany. According to Pfeiffer, Germany scores very highly in terms of the country's competitiveness as an investment location. This is true not only for the chemical industry and its related industries, but also extends to other branches. In a recently published study by the American Chamber of Commerce (AmCham), US companies ranked Germany as the most attractive business location in Europe. Reasons cited included the high product and process quality in Germany. These are factors that both companies and customers greatly value, especially in an economic downturn. Pfeiffer further discussed current industry figures. According to these figures, Germany's chemical industry is number one in Europe in terms of revenues, exports, investment, and R&D expenditures. "The German chemical and chemical processing industry is one of the global heavyweights. Germany is a clear leader in terms of exports. Che
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SOURCE Germany Trade and Invest GmbH
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