Business development secures 8,900 jobs in Hamburg

4 June 2024
Collaboration and interchange with Nordic countries gaining importance for Hamburg Invest

The Hamburg Invest business development agency attracted and secured a record 8,900 new jobs in 2023 and prompted 45 companies including 31 foreign ones to relocate to the city. Most of the new jobs were in renewable energies, logistics, IT and media. During a press conference Tuesday (June 4, 2024) Hamburg Invest said companies in Scandinavia are showing keen interest in Hamburg.

Hamburg attractive for Nordic countries 

"Securing jobs was particularly successful. We are retaining skilled workers in Hamburg in the long term," said Melanie Leonhard, Senator for Economics. "Given the geopolitical situation, alliances with neighbouring countries are becoming increasingly important." As the 'southernmost metropolis in Scandinavia', Hamburg is attractive in the north as a gateway to the German and European markets. Leonhard added: "We are linked not only by geographical proximity, but many strategic similarities as well. They include the availability of renewable energies, climate targets, mobility and investments in green technologies."

Secure jobs, new companies - good annual result 

Rolf Strittmatter, Managing Director of Hamburg Invest, added: "We achieved a very good annual result with an investment volume of EUR 502 million - especially against the backdrop of subdued investment given the high interest rates, price increases in construction and energy costs. Our focus on innovative companies with high added value per job help strengthens our innovative location both structurally and sustainably. It creates the best conditions for meeting the dynamic demands of the market and enables future growth."

Hamburg Invest balance sheet: jobs, start-ups and co.

Location in demand nationally and internationally

Apart from 45 new companies relocating to Hamburg, Hamburg Invest also lent its support to 40 expansion projects in the city. Thirty-one foreign companies chose to relocate to Hamburg. In addition to markets in Denmark, Sweden and the Netherlands, Hamburg Invest is increasingly active in Singapore, the United States, Britain, Poland, Turkey as well as Austria and Switzerland. "The Scandinavian countries are among the top 10 in the Global Innovation Index year on year and are seen as pioneers of innovative concepts in digitalisation and mobility," said Strittmatter. The Fehmarn tunnel will bring northern Europe and Hamburg even closer together. Earlier in 2019, Hamburg Invest established a strategic pillar of German-Swedish economic relations when it helped set up a branch of the Swedish Chamber of Commerce in Hamburg. The chamber’s 110 members include major players such as Vattenfall and Securitas.

Jobs and relocations in Hamburg: Vattenfall building
Vattenfall's office block in Hamburg

Scandinavia-focused entrepreneurs join forces

A hydrogen corridor from Hamburg via Copenhagen to Oslo is currently under construction and the region is being branded as a green hub. Environment-friendly initiatives and investments are also being developed. The decision by Sweden’s Northvolt to build a gigafactory for battery cells in Heide with headquarters in Hamburg, and in which Hamburg Invest played a key role, is an example of the power of north Germany. Other companies such as the fintech Stock Republic and the IT company Consid have also moved to Hamburg. The latter is one the fastest growing companies in northern Europe and sets up digital business models based on its customers’ wishes. "We opted to expand to Hamburg because it is the economic centre of northern Europe. Due to its proximity to Scandinavia, interest in Swedish business culture and the experience of Swedish values in business relations is very high," said Patrik Hall, CEO of Consid.

Marketing Hamburg's start-up ecosystem

Scandinavian scale-ups are also showing interest in the Hamburg Metropolitan Region. Since 2022, such companies have been particularly active in the "Scaleup Landing Pad" scheme. It has attracted growing international start-ups in the mobility, logistics, energy and construction sectors making them potential settlement candidates and helps them set up a branch in Hamburg. Demand among founders remains strong, according to Hamburg Invest's Startup Unit which has notched up over 200 consultations. Hamburg's start-up ecosystem is marketed internationally through a large number of trade fairs and events such as the Hamburg Copenhagen Startup Forum, the Nordic Startup Challenge or the Slush fair for founders in Helsinki, the Web Summit in Lisbon or Viva Technology in Paris. The online platform "Startup City Hamburg", managed by Hamburg Invest, links up founders and offers an overview of funding opportunities in the city.

Health Hub for Startups

Körber and tecHHub Hamburg innovation parks

Hamburg Invest brokered 24.1 hectares of commercial space to companies last year. Of this, around 7.8 hectares were privately owned and around 16.3 hectares urban-owned. Hamburg Invest also allocated 7.9 hectares directly. Since May 2018, a total of 51 hectares have been allocated in 51 projects of which 68 per cent are leasehold. The development of the Bergedorf Innovation Park was a top priority in 2023. Körber Technologies opted to relocate and restructure its factory there. Hamburg Invest also created the forward-looking tecHHub in the Altona Innovation Park for the life sciences industry with around 5,600 m² of laboratory and office space.

Sources and further information

About Hamburg Invest

Hamburg Invest is the one-stop agency for relocations and investments in Hamburg as well as the main point of contact for all business development issues. A wide range of services is available especially for SMEs. Hamburg Invest also markets urban commercial and industrial sites - from site development, advertising and customer approach to the land contract. Technology and knowledge-based start-ups can contact the Startup Unit and Startup City Hamburg there.

Similar articles

Twelve companies launch Hydrogen Alliance Hamburg

Companies now seek EU funding for nine hydrogen projects
Arbeitsumgebung von Startups

Family background often driving force behind start-ups

Role models and education also crucial factors, survey by Bertelsmann Stiftung and Startup Association finds
Young Makers Hamburg unterstützt Schüler:innen

Young Makers Hamburg for more entrepreneurs

Ministry of Economics and Hamburg lnvest to boost entrepreneurial spirit among pupils

Techhub Hamburg to boost Hamburg as a centre of life sciences

Foundation stone laid for new technology hub in Altona - start-ups to start work in 2024
The Consent Management Platform ( we use could not be loaded. This can happen if AdBlockers incorrectly block this URL. Some features such as maps, proximity search or forms, cannot be used this way. To use these features, please deactivate your AdBlocker or allow access to *