Anders Victor, director of business development at EDPNC, emphasized the historical depth of the connection: "It's a multi-century relationship that we have with German expats, and it manifests now as a very organized and passionate community." This highlights how long-standing ties have evolved into a robust network of mutual support and investment.
German firms have significantly increased their investments in the U.S., nearly tripling last year to $15.7 billion, driven largely by the flatlining domestic economy back home and Biden's Inflation Reduction Act. This pattern indicates a strategic shift among German businesses seeking stability and growth outside their traditional markets.
In terms of economic incentives, North Carolina's attractive 2.5% corporation tax, which is set to be phased out entirely by 2030, has made the state a prime destination for foreign investment. This structural change is drawing even more international businesses to settle in the region.
The cultural celebration in North Carolina is deepening as evidenced by the Carolina Panthers' scheduled game in Munich, which showcases how historical business ties are fostering culturally rich exchanges, further solidifying North Carolina’s relationship with Germany.
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