Hamburg News: Trade and Finance. High-class shopping area in the city centre shown.
HWF-Geschäftsführer Dr. Rolf Strittmatter und Wirtschaftssenator Frank Horch © Karolin Köcher

Hamburg Business Development Corporation (HWF) presents annual balance

Nearly EUR 600 million invested in Hamburg's economy - HWF remodelled as One Stop Investment Agency

Almost EUR 600 million were invested in Hamburg’s economy in 2016 by companies supported by the Hamburg Business Development Corporation (HWF) nearly doubling the 2015 investment levels, according to Frank Horch, Minister for Economics, a press release said Friday (February 3). He added: “The Hamburg Senate’s government programme set the goal of remodelling HWF into a ‘One Stop Investment Agency’. HWF’s annual results reflect the successful implementation.” Dr. Rolf Strittmatter, Managing Director of HWF, added: “Our 2016 results are extremely gratifying. At the same time, we do not want to stop at this point, and have further expanded HWF’s services at the beginning of 2017. Additional specialists are now available here as contacts for companies from industry and trade, research and innovation, digital economy and e-commerce as well as services and tourism. Thus, we expect further positive effects.”

Last April, Mindspace, the Tel Aviv-based international co-working space provider, opened a branch in downtown Hamburg. Dan Zakai, Manager and co-founder, noted: “Hamburg is a centre of innovation and creativity, and we at Mindspace are delighted to offer companies a home that inspires them for success.”

Hamburg as a centre of excellence

Last April, Hi-Fi Klubben, a Danish specialist in entertainment electronics, opened its first German branch in Hamburg’s Stadthausbrücke. Svend Erik Kristensen, Managing Director of Hi-Fi Klubben, said: “Northern Germany is the first address for expansion in Germany.” The wind energy sector is also brisk with more and more Chinese wind energy companies pushing towards Europe. Four Chinese companies including Envision Energy are presently among the Top 9 wind turbine manufacturers. HWF was influential in bringing Envision Energy to Hamburg. A second Chinese company is currently in talks to set up a business in Hamburg with the support of Hamburg’s Liaison Office (HLO) in Shanghai. Envision has four branches in China, three in the U.S. and one each in Mexico and Denmark. The Hamburg branch is the “centre of excellence”.

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