Market Perspective: Switzerland and Europe
World Trade Center Utah and the Salt Lake Chamber welcomed Consul General Jonas Brunschwig and Martin Ritter, CEO of Stadler US for a discussion on Switzerland's economy, European market trends, foreign direct investment, workforce development, and opportunities for Utah companies.
Switzerland's competitive advantage
Switzerland employs 400,000 people in the U.S., with 6,700 in Utah, making it the state’s fifth- 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 $40,000 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.
Key takeaways from the Germany and Switzerland trade mission
Gov. 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.
Key themes:
Dual education: Utah is working to expand “dual education” beyond technical trades. Employer buy-in is key.
Advanced manufacturing and AI: Visits showed rapid integration of robotics and digital control.
Investment opportunities: Firms like Trafigura and Partners Group showed strong interest in Utah projects and energy opportunities in Delta (IPP site).
Collaborations with Bayer’s global research network could strengthen Utah’s life sciences ecosystem.
Building Utah's workforce through dual education
Stadler employs 720 people in Utah and plans to expand to 1,000 employees and six dual education programs by 2027.
The company introduced Switzerland’s dual education model in 2019, emphasizing practical and academic training.
Benefits highlighted included:
Tailored workforce aligned with industry needs.
Higher retention, with graduates tending to remain long term.
Training costs breaking even within three years.
Stadler and partners, including the Governor’s Office and state agencies, will help expand youth apprenticeship pathways across manufacturing, hospitality, banking, and administrative services.
Businesses were encouraged to participate in Utah’s industry-led apprenticeship system.
FTZs: A practical tool for importers
Foreign-Trade Zones allow companies to defer or eliminate import duties until goods leave a facility.
Currently available to eligible companies within the FTZ service area surrounding Salt Lake City International Airport; efforts underway to expand coverage statewide through additional Customs and Border Protection staffing.
Key benefits include:
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 complimentary FTZ benefit analyses for eligible companies.