Twenty-two foreign companies set up business in Schaffhausen

Of the 22 companies that set up business in the canton of Schaffhausen over the course of 2017, eleven were from the U.S., nine from Europe and two from Asia, according to a statement from the Economic Promotion of the Canton of Schaffhausen. This positive figure is confirmation that Schaffhausen is a great place to do business, said Christoph Schärrer, head of the economic promotion team.

Alongside attracting new businesses to the region, the economic promotion agency also helps companies with project initiatives. This can include early discussion of expansion and investment projects, but also corporate restructuring. According to the agency, 130 such advisory sessions took place in 2017, with a number of companies investing in major expansions of their capacity in the canton. 

Several events were also held for SMEs and startups. “Long-established local businesses and young entrepreneurs are both vital to the local economy. They are tax-payers, employers and they drive forward innovation,” said Schärrer. “That’s why we also invest a lot of time advising and helping this type of business.” 

According to government councillor Ernst Landolt, corporate tax revenues played a considerable role in generating a surplus in the public sector finances in 2017.

To ensure that the canton of Schaffhausen remain an attractive place to do business, the economic promotion agency has launched several initiatives, such as the electronic identity eID+ and the driverless bus project Route 12 in Neuhausen am Rheinfall. The latter is meant to position the canton as a centre for transport of the future. 

In 2018, the economic promotion team will continue to implement its proven strategies while at the same time focus on new projects. This includes attracting international business services and corporate headquarters to relocate to Schaffhausen, but also helping the canton build on its manufacturing expertise and develop into a digital, high-tech location.