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Austrian Firms Still Powerful Investors in U.S.

Austria © Dorn-Fussenegger

© Dorn-Fussenegger

January 13, 2009

After investing 422 million Euro in 2007, 344 million Euro placed in first half of 2008

Capital investments of Austrian firms in the U.S. boomed in 2008. Austrian enterprises put 344 million Euro into the expansion of their existing establishments or acquisitions in the first two quarters of 2008. In all of 2007, they invested 422 million in comparison. Total investments reached 3.46 billion Euro through June 2008. The Austrian Trade Commission estimates that nearly 420 Austrian enterprises in the U.S. employ 16,000 employees. The historically favorable exchange rate and resulting bargain acquisitions could be reasons for this trend.

According to the Austrian National Bank (OeNB-Oesterreichische Nationalbank), U.S. companies decreased their investments in Austria in the first half of 2008. They withdrew 1.7 billion Euro from their Austrian business. There are approximately 400 U.S. companies in Austria and their total investment in June, 2008 was 6.15 billion Euro.