SOURCE: Embassy of Switzerland in the United States of America

Embassy of Switzerland in the United States of America

February 16, 2017 14:00 ET

Switzerland's Investments Strengthen the U.S. Economy

The United States is the top destination for Swiss direct investment abroad; Switzerland is the 7th largest foreign direct investor in the U.S. Swiss firms have created half a million jobs and do business in all 50 states, representing a substantial economic presence in the United States that strengthens the American economy; The new publication Switzerland's Economic Footprint in the United States puts it all together clearly and concisely

WASHINGTON, DC--(Marketwired - February 16, 2017) -

Embargo February 16, 2017, 2:00 p.m. EST

Today Ambassador of Switzerland Martin Dahinden spoke about Swiss direct investment and job creation in the U.S. to members of Congress and the new administration-in short, highlighting Switzerland's strong economic footprint. Ambassador Dahinden gave his remarks together with representatives from the Organization for International Investment (OFII) and two Swiss companies, Zurich North America and Novartis. "Our $224 billion in cumulative direct investment makes us the 7th largest investor in the U.S.," he stated, pointing out that Switzerland punches well above its weight. "Swiss investment rivals that of other considerable foreign investors with much larger economies and populations, including Germany and France. In fact, the United States is the largest recipient of outbound Swiss investment."

Swiss companies are active investors in the manufacturing, wholesale, retail, and service sectors of the American economy. Some 500 Swiss companies have operations in the United States. Many have multiple affiliates in numerous states, accounting for a total of some 3,500 affiliates. "Through these investments and businesses, Swiss affiliates have created and supported nearly half a million American jobs nationwide and they're only going to continue."

The bilateral economic relations between Switzerland and the United States are strong not only in terms of investments, but also when it comes to trade relations: while Switzerland exports goods and services valued at $52 billion to the U.S., Americans export $51 billion worth of goods and services to Switzerland. The United States is Switzerland's second most important trading partner worldwide.

The new publication, which also provides statistics and information for each of the 50 states, is available online at www.swissemb.org/fdi

The launching event for the publication Switzerland's Economic Footprint in the United States will take place on Thursday, February 16, 2017, from 12:30 p.m. to 1:30 p.m. on Capitol Hill at 2253 Rayburn House Office Building.

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