January 10, 2012

White House Event to Highlight Insourcing American Jobs  

 Increasing Global Investment in the U.S. Should be National Imperative

Washington, DC  – Nancy McLernon, President & CEO of the Organization for International Investment (OFII), an association representing the U.S. operations of global companies, will take part in an important forum, “Insourcing American Jobs,” being led by President Obama at the White House on Wednesday, January 11^th.

 “There is an urgent need to work harder to make the U.S the most attractive place in the world for both global and domestic companies to invest and create jobs,” said McLernon. “With a growing number of choices around the world, global companies need to know that their investment is welcome and supported here in the United States.”

 The U.S. subsidiaries of global companies have already insourced over five million American jobs.  However, the U.S.’s share of worldwide foreign direct investment (FDI) has fallen over the last decade from more than 40 percent to 17 percent.  While still the largest recipient of global investment, during the first three quarters of 2011, FDI inflows in the U.S. fell nearly 6 percent compared to same time frame in 2010.

INSOURCING FACTS
Insourcing Companies  (in-sôrs-ing) n. Companies based abroad investing in the United States and creating jobs for Americans.

Jobs: U.S. subsidiaries of global companies employ 5.3 million Americans;
Payroll: U.S. subsidiaries support an annual payroll of $409.7 billion;
Manufacturing: U.S. subsidiaries heavily invest in the American manufacturing sector; 37 percent of American jobs at U.S. subsidiaries are in manufacturing;
Exports: U.S. subsidiaries manufacture in America to export goods around the world — accounting for nearly 21 percent of all U.S. exports, or $232.4 billion;
Reinvestment:  U.S. subsidiaries reinvest an annual $93.7 billion in their U.S. operations.
Taxes:  U.S. subsidiaries pay $38 billion in annual U.S. corporate taxes, nearly 17 percent of total U.S. corporate tax payments.

*All statistics are the latest publicly available government data from the Department of Commerce and the Internal Revenue Service.

 RECENT INSOURCING HEADLINES
“Brownback: Bombardier Growth Can Help State,” The Wichita Eagle, December 16, 2011
“Magna International To Open Manufacturing Facility In Phoenix,” Phoenix Business Journal, December 13, 2011
“Hundreds Brave Cold To Apply For Jobs At Nissan,” The Tennessean, December 11, 2011
“As Foreign Investment Shores Up U.S. Jobs, Companies Like Pemko Part of New Wave Helping Memphis,” The Commercial Appeal, October 30, 2011
“Carmakers Plan To Hire 25,000,”The Economic Times, October 29, 2011
“German Manufacturer To Bring 200 Jobs To Georgia,” Global Atlanta, October 28, 2011
“Unilever Adding 125 Jobs in Jonesboro, Ark., Plant Expansion,” Memphis Business Journal, October 26, 2011
“Foreign Companies That Aren’t So Foreign,” The Boston Globe, October 16, 2011
“Growing Faurecia to Hire 800: French Supplier Rides Globalization Wave,” Crain’s Detroit Business, September 27, 2011
“Bridgestone Investing $1.2B in SC, adding 850 Jobs,” The News Tribune, September 21, 2011
“Tata Steel An Example of Job Creation in USA Through FDI,” CNBC Money Control, August 26, 2011
“Novo Nordisk to build new US Headquarters,” Times of Trenton, August 2, 1011

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The Organization for International Investment is a Washington-based business association representing U.S. subsidiaries of global companies. For additional information, see OFII’s web site at www.ofii.org.