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Economic and Financial Affairs
The Embassy’s Economic and Financial Affairs Division monitors developments and changes in U.S. economic, financial and foreign trade policy. It strives to provide sound basic conditions for Swiss-U.S. trade and investment relations. The Embassy’s economic team keeps track of relevant regulations and legislation and supports and protects Swiss economic interests where necessary.
Swiss Made: The Untold Story behind Switzerland's Success is a book by James Breiding. A panel hosted by the Cato Institute on April 23, 2013, discussed what other countries could take from Switzerland’s economic success story.
View podcast of panel discussion below.
Swiss Foreign Direct Investment in the United States Report 2013
(Based on the most current business activities of Swiss affiliates reported to the U.S. Bureau of Economic Analysis (BEA))
How Swiss Investors Create Jobs and Growth in the U.S.
Switzerland was the largest foreign direct investor in the U.S. in 2010 (in absolute dollar terms) and is among the largest direct investors in the U.S. overall.
Swiss investors include agribusiness (Syngenta), financial and insurance (Swiss Re Group, UBS, Zurich American Insurance Company–Farmers Group), flavors and fragrances, food manufacturing (Nestlé), manufacturing and electronics (ABB, Holcim, Schindler Group and many more), pharmaceutical and medicine (Novartis Group, Roche Holding Group–Genentech), business process management services (Swiss Post Solutions).
- Through 2011, Swiss cumulative foreign direct investment in the U.S. was $212 billion with $57 billion in value added.
- R&D investments by Swiss affiliates were the highest of all countries in 2009 and 2010 at a total of $9.1 billion per year.
- Swiss affiliates supported 408,000 jobs in 2010.
- States with Swiss companies providing the greatest number of jobs: California, New York, Texas, New Jersey, and Illinois.
- In 2009 and 2010, Swiss affiliates paid the highest average salary among foreign affiliates in the U.S., $100,100.
- At $3.6 billion, Swiss companies paid the third highest amount in income taxes of foreign-owned companies in the U.S. in 2010.
The division closely follows U.S. financial markets and their regulations, macroeconomics, as well as monetary and fiscal policies and covers issues such as agricultural, environmental and competition policies as well as development cooperation.
With the enactment of the Foreign Account Tax Compliance Act (FATCA), the United States wishes to ensure that all accounts held abroad by U.S. taxpayers can actually be taxed. On February 14, 2013, Switzerland and the United States signed the FATCA agreement.
Recent Measures to Ensure the Integrity of Switzerland’s Financial Center
In collaboration with the Swiss Business Hub USA, the division assists Swiss companies and industry in establishing contacts, promotes the export of Swiss products and services, and supports the promotion of Switzerland as a location for foreign investment.
Swiss Foreign Investment Agency
Tel.: +1 202 745 7900
Fax: +1 202 387 2564
Josef P. Renggli, Minister-Counselor