Wed, Jan. 07, 2004

Moves to Euro Zone

CK - Washington.   The Wall Street Journal reports today of a growing trend by small and medium-sized U.S. business to move production abroad. Roger Krieger, a German-trained lawyer with operations near Boston, confirms the trend. He observes, and assists, Europe-bound bound investments by U.S. companies seeking to establish a presence in the Euro zone. "The recent changes relaxing tax and employment law in Germany, for instance, really favor companies venturing into the Euro Zone for the first time," he notes. "You used to be almost wedded to your employees, but now a new business can operate with up to ten employees under rules much more similar to U.S. practices. And the recent tax relief is substantial." Industrial Investment Council, a public-private partnership, "provides additional incentives for companies interested in testing the waters in former East Germany," adds Dr. Schmidt in IIC's Washington office.


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