The purpose of this study is to investigate how human capital influences the regional distribution of Greenfield investments. The research strategy is to classify employees into different occupational groups based on their knowledge and skills, and examine how the regional distribution of human capital influences the probability of a region receiving new foreign start-ups. The relationship between multinationals´ location choice and human capital is studied on a population of new foreign start-ups in business services that established in Sweden between 2001 and 2008.