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Across the Atlantic, residents in a little-known State are toasting Steins in German beer halls, enjoying bratwurst and schnitzel in Bavarian restaurants, and working for giants like Siemens and Schott Pharma. They have a surprising share of German immigrants to thank.<\/p>\n
North Carolina, an east coast state with a relatively attractive six-hour time difference from mainland Western Europe, has long been an attractive destination for businesses from Europe and other regions. But there has been renewed attention from Germany in recent years.<\/p>\n
German firms significantly nearly tripled<\/a> their investments in the U.S. last year. The $15.7 billion splurge resulted from Germany\u2019s flatlining domestic economy, incentives flowing from Joe Biden\u2019s Inflation Reduction Act, and a pivot away from Germany\u2019s long-standing trade dependence on China amid geopolitical tensions and an economic slowdown there.<\/p>\n Much of that has flowed to North Carolina, where German giants like Siemens<\/a>, Daimler Trucks<\/a>, and Schott Pharma have each invested hundreds of millions of dollars in recent years. Some 109 German companies have invested more than $2 billion in North Carolina over the last decade.\u00a0<\/p>\n Even the NFL franchise Carolina Panthers, based in the North Carolina capital of Charlotte, will get in on the partnership when it plays the New York Giants in Munich in November, transforming long-standing business links into cultural ties.<\/p>\n North Carolina\u2019s 2.5% corporation tax is set to be phased out entirely by 2030, attracting foreign businesses to the State.<\/p>\n<\/blockquote>\n<\/figure>\n But Anders Victor, director of business development at the Economic Development Partnership of North Carolina (EDPNC), points out the relationship goes back to the 1700s when German settlers migrated south from Philadelphia and settled<\/a> in the state.<\/p>\n \u201cIt\u2019s a multi-century relationship that we have with German expats, and it manifests now as a very organized and passionate community,\u201d Victor said.\u00a0<\/p>\n North Carolina\u2019s 2.5% corporation tax is set to be phased out entirely by 2030, attracting foreign businesses to the State.<\/p>\n But within that thriving direct investment is an engine of German expats and their offspring bringing a quirk to the State\u2019s workforce. More than 15,400 Germans have immigrated to the State since 2017.<\/p>\n Siemens helped inspire a surging apprenticeship program in North Carolina, which has grown in popularity<\/a> across the U.S. as the value proposition for a college degree declines. Colleges and universities in the State also provide German companies with a skilled local workforce in life sciences.<\/p>\n The outward perception shows a win-win for German immigration to North Carolina.<\/p>\n Hans Hilgenstock moved to North Carolina in 2004 after relocating from San Diego. Initially planned as a short-term move, he quickly fell in love with the State and its bulging German diaspora.<\/p>\n Hilgenstock led a somewhat nomadic life before settling in North Carolina. He grew up in several parts of Germany before moving to the U.S. in 2001.<\/p>\n \u201cI moved here thinking I\u2019m going back to paradise [San Diego], and I stayed because this is paradise, and it\u2019s not just paradise, because everything is perfect. I have everything in front of me.\u201d<\/p>\n Hilgenstock says he speaks about 80% English and 20% German day-to-day. He works as a logistics salesperson during the day and interacts with a German and English-speaking community in his downtime.<\/p>\n There is a swathe of German restaurants and traditional beer halls in the State. Hundreds of people will attend these beer halls on Fridays at 4 p.m., a sign of the traditional European approach to work-life balance making its mark in the U.S.<\/p>\n \u201cYou could take this up, even to Germany, it would be packed,\u201d Hilgenstock says of the beer halls in North Carolina.<\/p>\n Hilgenstock\u2019s kids even attended Deutsche Schule Charlotte, the only German language school in the State.<\/p>\n In the business world, Hilgenstock has noticed more of a divergence that can take the typical German some time to get used to. One is the culture of meetings.\u00a0<\/p>\n With German companies, calls are limited to 30 minutes and focused on the transaction.<\/p>\n \u201cYou can talk about rates, you talk about cost, you talk about the product, talk about service, whatever it is, you talk.<\/p>\n \u201cIn America, I know when I have the same one-on-one, I will block two hours because it can last two hours. You talk about kids, family. You get to know the person, and it\u2019s not so focused on the sale.\u201d<\/p>\n Since 2016, the U.S. political environment has grown increasingly toxic, as three different Democratic candidates ran against Republican and former President Donald Trump.<\/p>\n Trump\u2019s return for another crack at the Presidency has left Americans making alternative plans for where they may live after November 6.\u00a0<\/p>\n A record number of ultra-high-net-worth and high-net-worth individuals in the States are applying for second passports as a safety net against the prospect of civil turmoil due to the U.S. political landscape, with many looking across the Atlantic.<\/p>\n Visa and second passport experts in Europe began noticing a spike<\/a> in inquiries from Americans last year. Some told Fortune <\/em>the prospect of a Trump second term forced them to look for properties in Spain and Portugal.<\/p>\n\n
\u2018Paradise\u2019<\/h2>\n
\u2018The wrong president\u2019<\/h2>\n