Dr Rolf Strittmatter, Managing Director of Hamburg Invest, noted: "In view of the pandemic, there is great demand for consulting services among companies. Projects, on the other hand, are being postponed in some cases. This applies in particular to smaller, local expansion projects and, due to travel restrictions, to international settlements, especially from overseas. Larger projects will continue in Hamburg unchanged." Last year, Hamburg Invest focused on innovation, digitalisation and sustainability. Most of the companies supported by Hamburg Invest were innovative SMEs or start-ups.
Major projects by Hamburg's firms noticeable, great demand for consulting services
Hamburg Invest presented Tuesday (February 1, 2022) key results for 2021 with 9,168 jobs secured or new jobs created, 1,058 companies serviced and an investment of around EUR 752 million. "Following the positive signals from the labour market, Hamburg Invest’s results confirm that the pandemic has not yet had a lasting impact on Hamburg's economy," said Michael Westhagemann, Senator for Economics, at the state press conference. " Hamburg Invest has achieved a result that follows on from before coronavirus. The urban economic and fiscal effects are outstanding. Hamburg Invest's work strengthens Hamburg as a business location in the long term and sustainably. Every euro invested in economic development pays off," Westhagemann stressed.
Results in figures
The results are strong despite the ongoing pandemic. Demand for consulting services was even higher than in 2020, although the number of projects declined. The most successful projects were larger in scale. Of the 969 consultations, 336 were for "non-Hamburg companies". Of these, 158 were international companies. 633 were for clients based in Hamburg.
Results high despite crisis
Expansion projects by companies in Hamburg dropped from 60 to 36. Larger projects remained unaffected. As a result, the number of jobs secured and the number of new jobs created are only slightly below levels in 2020. However, SMEs proved reluctant to invest and are making increasing use of Hamburg Invest's advisory services. The pandemic also forced the postponement or cancellation of travel plans, attendance in trade fair road shows, seminars, presentations and one-on-one meetings in 2021 similar to 2020
International investors and their delegations also postponed or cancelled trips to Hamburg. However, new contacts were established through hybrid and digital events, organized by Hamburg Invest, for target groups in various source markets and regions.
Outlook 2022
Despite the pandemic, demand for commercial space remains high among companies across Hamburg. The lack of sites often impedes the completion of projects. Given that backdrop, procuring investment projects in the Hamburg Metropolitan Region will become increasingly important in future. Small-scale users in offices remain cautious and are waiting to see how things unfold. The commercial property database will be relaunched soon and likely to prove successful.
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Sources and further information
Hamburg Invest
Hamburg Invest is the one-stop agency for relocations and investments in Hamburg as well as the main point of contact for all business development issues. A wide range of services is available especially for SMEs. Hamburg Invest also markets urban commercial and industrial sites - from site development, advertising and customer approach to the land contract. Technology and knowledge-based start-ups find their central point of contact there.
Hamburg Metropolitan Region
Hamburg Invest considers the Hamburg Metropolitan Region a single economic area. Companies that cannot find a suitable site in Hamburg are actively placed in the metropolitan region to keep economic clout in the north. On average, this involves six companies per annum. However, Hamburg Invest also helps companies based in the metropolitan region find space in the City of Hamburg and assisted seven firms with their search in 2021. Hamburg Invest also helped AstraZeneca, the globally active pharmaceutical company with Swedish-British roots, move from Wedel to the City of Hamburg.
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