ECONOMY

A Global Economy in the Heart of Europe

The European Central Bank, shown left, is only one of many major economic institutions located in Frankfurt.

Many visitors to Hessen arrive through the bustling Frankfurt Airport, one of the biggest employers in the Rhine-Main area.  As they land, they’re treated to a bird’s-eye view of glassy skyscrapers rising up from the banks of the Rhine River, most belonging to major international banks.  The Frankfurt skyline – dubbed “Mainhattan” by locals – serves as a visual reminder of this city’s role as the financial capital of continental Europe.

Hessen, with Frankfurt at its core, is internationally known as a global finance center with more than 300 banks from 53 countries, and Frankfurt is home to the Deutsche Bundesbank (German Federal Bank), the Deutsche Börse, (German stock market), and the European Central Bank. Yet the State of Hessen has an economy that is as diverse as it is dynamic. Highly successful manufacturing and service sectors and innovative companies of every size have made Hessen the economic powerhouse that it is today.

Knowledge clusters, located across the state in high-tech and traditional industries, span sectors and serve as a bridge between industry and academia. The cities of Darmstadt and Wiesbaden, in the southern part of the state, have well-developed knowledge clusters for the automotive, chemical, and information technology sectors, while Kassel and Marburg, in northern Hessen, specialize in logistics, automotive, and energy engineering. Researchers across institutions in central Hessen focus on biotechnology, optics, and medical engineering.

International employees are in high demand in Hessen and options for employment at German and international companies abound. More than 950 US companies such as Amazon, Cisco Systems, Dell, IBM, Microsoft, Motorola, Sun Microsystems, Symantec, QVC – plus all the major banks and consulting companies – are located in Hessen. Over 750 companies from South and East Asia have also set up shop in Hessen.

The manufacturing and service sectors serve as driving forces for the Hessen economy, although services represent a larger percentage of economic output than in any other federal state in Germany. With companies of every size manufacturing products for sale around the world, “Made in Hessen” has long stood for excellent quality, functionality, and reliability.

The clusters of expertise, strong networks for technology transfer, and productive academic facilities and research centers in Hessen attract highly qualified employees and researchers who want to live in a place with great quality of life and excellent conditions for business. Whether working, living, or studying – opportunities abound in Hessen.