Market Perspective: Switzerland and Europe
World Trade Center Utah and the Salt Lake Chamber welcomed Consul General Jonas Brunschwig and business leaders from across Utah for a discussion on Switzerland's economy, European market trends, foreign direct investment, workforce development, and opportunities for Utah companies.
Featured speakers
Jonas Brunschwig, consul general of Switzerland
Presenter: Consul General Jonas Brunschwig
Switzerland employs 400,000 people in the U.S., with 6,700 in Utah, making it the state’s 5th largest foreign employer.
Swiss firms have invested $350 billion across the U.S. and spend $15 billion annually on R&D, the highest among foreign investors.
Average Swiss-company salary in the U.S.: $131,000, about $40k above the U.S. average.
Switzerland’s model of independent but interconnected trade with the EU enables global competitiveness.
Sectors to watch: Life sciences and advanced manufacturing.
The Swiss–U.S. Apprenticeship MOU was renewed in October 2024, supporting nationwide scaling of dual education programs.
Trade Mission Highlights: Germany and Switzerland
Presenter: David Carlebach, World Trade Center Utah
Governor Spencer Cox led a 50-person delegation to Switzerland and Germany to strengthen ties in apprenticeship systems, advanced manufacturing, and investment.
Meetings included ETH Zurich, Stadler Rail, Roche, UBS, Partners Group, Trafigura, and Siemens.
Three core themes:
Dual Education / Apprenticeships: Utah aims to rebrand and expand “dual education” beyond technical trades. Employer buy-in is key.
Advanced Manufacturing & AI: Visits showed rapid integration of robotics and digital control; Utah companies encouraged to adopt emerging technologies.
Investment Opportunities: Firms like Trafigura and Partners Group showed strong interest in Utah projects and energy opportunities in Delta (IPP site).
New potential collaborations with Bayer’s global research network to strengthen Utah’s life sciences ecosystem.
Foreign-Trade Zone (FTZ)
Presenter: Rich Israelsen, World Trade Center Utah
FTZs allow companies to defer or eliminate import duties until goods leave a facility.
Applicable within 60 miles of the Salt Lake City Airport; efforts underway to expand coverage statewide through additional Customs and Border Patrol staffing.
Benefits for companies:
Cash flow improvement through tariff deferral.
Potential duty elimination for re-exports.
Reduced paperwork and lower import fees (e.g., consolidation savings).
Stadler is completing its FTZ certification—one of 10 Utah companies approved.
WTC Utah provides free benefit analysis for companies within the FTZ range.
This series will continue with market-focused briefings throughout the year:
July 30 — Australia
October 29 — Mexico