Since 2015, the Transatlantic Business & Investment Council network has helped European companies establish production facilities in the U.S.. Denmark and the Nordic region are now focus areas, and a presence is established at Symbion in Copenhagen. This will strengthen the organization's efforts in the Nordic region.
Trade between Denmark and the U.S. is increasing year by year. In 2017, exports of goods and services reached DKK 125 billion (USD 19 million) and according to the latest figures from 2016, the 760 Danish subsidiaries in the US employ more than 74,000 employees. U.S. experience the lowest unemployment since the 00s and the already high consumer confidence, is expected to increase even further in 2019. In other words, the US remains an attractive market for Nordic companies.
At the same time, the Nordic - and in particular the Danish companies - are attractive partners for the USA. The ability of the Nordic companies to develop innovative, holistic solutions to challenges within the private as well as the public sector. The high degree of digitization and the ability to develop products with a fantastic design makes the Nordic markets attractive collaboration partners.
Transatlantic Business & Investment Council (TBIC) is a network of more than 100 of the most internationally-oriented regions in the United States.
Each region has its own economic development organization (EDO), which proactively works to attract European companies to their particular region. TBIC has offices in Atlanta, Georgia USA as well as Berlin, Germany, and now - as of November 1, 2018 - the network is furthermore present in Copenhagen, with the aim to strengthen its efforts in the Nordic region, and support companies that - as a result of success with direct exports to the U.S - wish to establish themselves more solid on the market through technology cooperation, by establishing production or in some other way, want to develop transatlantic cooperation from a physical representation on the market.
CEO Matthias Beier says: "Denmark and the Nordics are countries extremely interesting for the American market due to their innovative products which can find an enormous customer base in the U.S. and their unique experience in sustainable and cost-efficient business and industry solutions are appreciated. By expanding our presence in the Nordics through the office in Copenhagen and engaging with Charlotte Nytoft, we are able to individually support Scandinavian and Baltic companies on their way to the U.S. – e.g. by helping them to find distribution partners in our more than 100 U.S. member communities, connect them to important American stakeholders and multipliers, and by identifying the potential challenges for their market entry or expansion. Especially when it comes to legal questions, like forming a U.S. entity or support when estimating the costs of doing business for a local office, assembly or production, Charlotte Nytoft and the EAIC network of members and FDI experts in Europe and the United States provide outstanding knowledge and experience, of which Nordic companies can greatly benefit.”
Since spring 2017, Charlotte Nytoft, Senior Consultant and founder of CNR-Consulting has worked with TBIC as member of the Advisory Council, who support companies with specific knowledge in relation to the network's services. Charlotte Nytoft is appointed as contact person for TBIC in the Nordics and is responsible for supporting Nordic companies in the process of establishing a presence in the U.S.A., as well as keeping the American members of the network up to date on relevant and interesting companies and activities in the Nordic region.