Berlin Economic Development Agency supports 58 new settlements

Berlin remains an attractive business location for many companies.

In the first half of the year alone, the Berlin Partner economic development agency helped 58 new companies to settle in Berlin, as the agency announced. That is an increase of 32 percent compared to the same period last year, said the managing director of the state-owned economic consultancy, Stefan Franzke. "In the whole of last year there were 75, which was already very good."

Economic growth of around two percent expected

Most of the new companies, 21, came from Germany. Five companies each came from Great Britain and Turkey. For British companies, Brexit still plays a role in their decision to come to Berlin. "Because you simply don't have access to the European internal market from London," Franzke stressed. "That's what drives companies to Berlin." Despite the global crises, the Senate is expecting Berlin's economy to grow by around two percent this year. "We assume that we will again be well above the national average and will also be better than last year," said Economics Senator Franziska Giffey (SPD). Nationwide, growth of 0.3 percent is expected for 2024.

Potential in the areas of finance, medical technology and computer games

Berlin is still the start-up capital in Germany, especially in the areas of finance, medical technology and computer games, the senator emphasized. Around 88 percent of German venture capital for the financial industry is invested in Berlin. There is still great potential in these segments, emphasized Giffey. The capital will continue to grow here. In total, all companies supported by Berlin Partner invested almost 650 million euros in the capital in the first six months. That was the highest figure since the outbreak of the corona pandemic. The majority of these investments come from the transport sector. Franzke cited the digital conversion of the Mercedes plant in Berlin as well as large orders from train manufacturers such as Alstom, Siemens-Mobility and Stadler as examples.