25. March 2024

Review | Ride into the future – Styria to the Southeast USA

In recent years, the USA, and particularly the Southeast, has developed into a mobility hotspot and one of the most important hubs for production, industry, and trade.
As part of the mobility roadshow “Ride into the future – Styria to the Southeast USA,” we dedicated ourselves to this exciting market. The more than 30 participating companies enjoyed a dense program featuring numerous keynote speeches and a panel discussion.

Peter Hasslacher, Austrian Trade Commissioner in New York, began with an update on the current economic situation in the USA, which remains our second most important export market: With GDP growth of 2.4% last year, favored among other things by strong private consumption, the US economy grew more strongly than those of many other industrialized nations. High government spending on basic research and the close integration of science and industry also make the USA a global tech and innovation hotspot. Lower energy costs and multi-billion dollar investment packages such as the Inflation Reduction Act, the Chips and Science Act, or the Bipartisan Infrastructure Law offer promising incentives for foreign investors.

Eliot Leadem, Mobility Expert at the Austrian Foreign Trade Center New York, focused on the Southeast USA and provided insights into current mobility projects such as Scout Motors (Volkswagen) in Columbia (SC), Hyundai Motor Group in Savannah (GA), and Rivian in Atlanta (GA), as well as business opportunities for domestic automotive suppliers.

The states of Georgia and South Carolina, current local developments, and specific location advantages were highlighted in particular by Stefan Harrigan, Senior Manager at the Metro Atlanta Chamber, and Sergio Domingues, Managing Director of the State of South Carolina Europe Office.

But how do companies assess the opportunities in the Southeast USA? This question was answered by Martin Kollmann, Managing Director of MSG Mechatronic Systems GmbH, which specializes in the development and production of high-quality mechatronic components for the automotive industry. He provided deep insights into his company and its future plans to gain a foothold in the USA.

Marion Kikinger, ICS funding expert, explained how companies can benefit from the go-international export promotion program when entering the US market, how the application process works in practice, and what needs to be considered during processing.

In a conversation with moderator Alexandra Kohrgruber (ICS), Trade Commissioner Peter Hasslacher, US attorney Tycho Stahl, and Senior Commercial Specialist of the Commercial Service at the US Embassy Marta Haustein discussed what matters when entering or expanding in the US market and shared valuable do’s and don’ts with the participants, such as:

  • The USA is a market the size of a continent – choosing the right location, region, counties, etc., for an individual project is essential, and companies should be comprehensively prepared for regional and local conditions.
  • Rely on the expertise of US experts in legal, tax, and insurance matters who bring sufficient expertise regarding the respective market, state, and your specific project.
  • When in the USA – do as the Americans: At first glance, Europeans share many similarities with their American business partners; nevertheless, you should pay attention to intercultural communication and learn to “read” your American business partner to truly communicate in the same language.

Ken Walsh, Senior Commercial Officer at the US Commercial Service, rounded off the morning with a compact summary of the advantages and opportunities in the massive US market, which welcomes Austrian investors.

Following this, participants took the opportunity to exchange ideas with all the experts during informal networking at an American Lunch and to delve deeper into individual projects in personal consulting sessions.

Your contact at ICS

Alexandra Kohrgruber, ICS

Alexandra Kohrgruber

Project Management, DiGEM

Sandra Tanos, Export Consultant at ICS

Sandra Tanos

Senior Project Management | Export Consulting