Brexit Drives Relocation of 42 Companies; Talks with 250 More in the Works
NEW YORK, Feb. 11, 2019 /PRNewswire/ -- The Netherlands reported a strong uptick in direct investment projects by foreign companies in 2018, driven in part by a surge in Brexit-related relocations and expansions.
The Netherlands Foreign Investment Agency (NFIA), its regional partners in the Invest in Holland network and the Holland International Distribution Council assisted in the attraction of 372 foreign investment projects worldwide last year, totaling 2.85 billion euros in capital investment and the planned creation of 9,847 new jobs.
U.S. and Canadian companies like Timberland and MarketAxess tallied 85 direct investment projects in the Netherlands in 2018, accounting for slightly less than one-third of the 248 foreign investment projects that NFIA was directly involved in worldwide. The North American projects generated 3,296 jobs and 1.205 million euros in capital investment in the Netherlands, with 28 marketing and sales office projects, followed by 15 European headquarters, 10 distribution centers and 6 manufacturing projects. By industry, information technology, services and life sciences & health projects led the way.
"North American companies choose to invest in the Netherlands to capitalize on our country's economic stability, highly educated and multilingual workforce, world-class infrastructure and strong environment for technology and innovation," said Henny Jacobs, Executive Director of NFIA Americas. "We are a beacon of trust as a gateway to Europe."
"Due to the growing international uncertainty surrounding Brexit and changing global trade policies, the importance of a good Dutch business climate for all of us is continually increasing," said Eric Wiebes, Netherlands Minister of Economic Affairs & Climate Policy.
"The impending Brexit and tensions around international trade provide opportunities for Dutch companies," said Sigrid Kaag, Netherlands Minister for Foreign Trade and Development Cooperation. "Our companies are innovative, flexible and adapt to this changing market. Furthermore, the Netherlands' position as a stable economic hub is also attractive to foreign companies."
Brexit Companies More than Double
In 2018, the Invest in Holland network brought 42 companies, including the European Medicines Agency, to the Netherlands as a result of Brexit, accounting for 1,923 jobs and some 291 million euros in investments. That number more than doubles the 18 companies that made a Brexit-related move to the Netherlands in 2017. In 2019, several companies, including Discovery and Bloomberg, have already announced their intention to invest in the Netherlands because of Brexit.
Additionally, the NFIA is talking with more than 250 foreign companies considering setting up operations in the Netherlands following Brexit. These are predominantly British companies, but also American and Asian organizations that are reconsidering their current European structure due to uncertainties caused by Brexit.
Ready to assist companies looking to establish and expand operations in the Netherlands, NFIA has North American offices located in Atlanta, Chicago, New York City, San Francisco and Toronto. For more information, visit www.investinholland.com.
SOURCE Netherlands Foreign Investment Agency