March 21, 2011

 U.S. Operations of Global Companies Key Component to U.S Economy, Jobs

OFII Releases Annual State Jobs Study

 Washington, DC- The Organization for International Investment (OFII) today released its annual State Jobs Study, which shows how integral U.S. subsidiaries of global companies are to the U.S. economy.  According to recently released Department of Commerce statistics, California, Texas, New York, Illinois and Pennsylvania top the list of states with the greatest number of jobs at U.S. subsidiaries. Throughout the country, 5.6 million Americans work at these businesses—nearly 5 percent of the private sector workforce.

 “At a time when America is still trying to dig out of recession, creating jobs has never been more important,” said Nancy McLernon, President & CEO of the Organization for International Investment. “Global companies insource millions of good paying jobs each year—and pay workers 33 percent higher than all U.S. companies.”

 For a complete list of the top twenty states click here.
 To view state by state jobs information for all 50 states visit OFII's Jobs By State page.

 Insourcing Facts:

Jobs: U.S. subsidiaries of global companies employ 5.6 million Americans;
Payroll: U.S. subsidiaries support an annual payroll of $408.5 billion;
Manufacturing: U.S. subsidiaries heavily invest in the American manufacturing sector; nearly 40 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 more than 18 percent of all U.S. exports, or $232.4 billion.

 *Statistics are the latest publically available government data from the Bureau of Economic Analysis http://www.bea.gov

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The Organization for International Investment is a Washington-based business association representing U.S. operations of global companies. To view OFII's membership list click here.