Switzerland's 2011 Scores in Investment Projects and Rankings

NEW YORK, Aug. 23, 2011 /PRNewswire/ -- Despite a lackluster performance in the global economy, Switzerland scored a number of new and expanded investment projects during the first part of 2011, reports Daniel Bangser, Director North America of Switzerland Trade & Investment Promotion.  The alpine nation also continues to rank high in key investment decision criteria, Mr. Bangser said.

"By mid-year at least 24 projects from North America have landed in Switzerland generating an estimated $625 million in investment and leading to about 1,737 new jobs," Mr. Bangser said. Among those announced:

• Newell-Rubbermaid's new EMEA headquarters in Geneva
• Hewlett-Packard's new Cloud Service Center in Zurich
• Nestle/General Mills joint venture Cereal Partners Worldwide's innovation center in Orbe
• KAYAK's European headquarters in Zurich
• J.P. Morgan increasing its private banking team in Geneva from 650 to over 1,000 and doubling its staff in Zurich to 120
• Johnson & Johnson's acquisition of Swiss medical devices maker Synthes, valued at over $21B
• Google's expansion in Zurich, adding 300 employees at its development center
• Staples' strategic alliance with Swiss office products company Buro Schoch Direct AG
• Dow Chemical's packaging facility expansion in Horgan
• Hasbro' new administrative building in Delemont
• Philip Morris selecting Neuchatel for its European research site

"Recently released FDI criteria rankings also position Switzerland well within the top 10," Mr. Bangser said.  Examples include:

• 1st in Europe in the 2011 Index of Economic Freedom
• 1st in the 2010-2011 Global Competitiveness Report
• 2nd in Europe in the 2011 World Competitiveness Yearbook
• 1st in INSEAD's 2011 Global Innovation Index
• 1st  in the 2010 Innovation Union Scoreboard
• 2nd in China's National Innovation Index
• 4th in the 2010-2011 Global Information Technology Report

Mr. Bangser commented, "Switzerland is often mentioned as a low-tax country for corporations.  But a study by Osec Business Network Switzerland revealed that taxes rank 11th in a list of factors why foreign companies set up operations there.  Political stability, legal security, quality of life, social climate, purchasing power, and transport and logistics make up the first five."

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SOURCE Switzerland Trade and Investment Promotion